Remember The Weird Geico Piggy; Gone Wild?
Maxwell goes; Whee! …Whee! …Whee! …all the way home.
Pinwheel in hand…self absorbed …Maxwell goes; Whee! Whee! Whee! …all the way home.
Keep that in mind as I ask you to remember the statement which Draggi made recently? “…prepared to do …whatever it takes …â€
I want to call this forward to preface yesterday’s Fed announcement of QE-3 and take the opportunity to note that Ben Bernanke’s verbiage followed Draggi’s statement IN THE SAME VIEN …effaced within a seemingly unassuming rhetorical valor.
Seemingly In valor …selfless service were these declarations made; were they not?
Regardless, they both echoed one another in the rather highly correlated harmonic; “I am prepared (implied present, plu-perfect tense …moving forward?) to do WHATEVER (…yeaaah, right!) whatever it takes …â€
To this, I must ask; what does “…WHATEVER it takes …â€ imply? Furthermore what does this open-ended stance HOLD IN STORE for “…We the People …â€? Promise of added Hope? Great positive change?
By this, I mean to imply that “…We the People …â€ are not Lilliputians from Gulliver’s Travels, but from the size of our nation’s National Debt, its service load and the size of the Fed’s balance sheet; we might as well bring some heightened level of our collective consternations to bear by raising some rather pertinent and rather pointed questions.
For, when one wakes up from a tale such as this fiction …only to discover the realization that Ron Paul may actually have got something right in his obsessive compulsive attempts to drive and force Congress to audit the Fed; one must face a very stark reality …and that is one which begs the question as to who is serving who …or rather …at which point in time did the Fed’s service become derailed to the point that may actually compromise its service to America ….a case in point whose scrutiny may very well include a closer and all inclusive comparative look at Greenspan’s turn at the Fed’s helm.
Therefore, this morning …a better question may more aptly be framed by asking whether or not you have been served by the Fed’s monetary policies and actions?
How have you been served?
Now? How about your hopes for the future …in the next four years …yes, and beyond.
Remember the words of the immortal Buz Lightyear? To infinity and beyond!
After all, that is the direction and size in which the Fed’s is aimed at taking its balance sheet’s mix of equities and securities …its losses and risk exposure not withstanding.
…least of all that the expression “…taxpayer hookedâ€ connotes is yet to be seen in how the Fed may be shooting itself, congress, the political process, and yes “…We the People …:â€ all in the foot.
And “…we all …â€ is in this …having pretty much allowed this aggregately to happen with …or without one voice …unified in either our silence and our blind oblivious indifference to all things “…WHATEVER.â€
Yet; if one is not being served BY THE FED …the best and most revealing question might as well then be coming in one like this that begs an answer which leads TO A CONCLUSION like THE FINALITY OF THE TRUTH OF a loaded, double edged sword.
In other words, if one is not being served by either and or both the LIKES OF the Draggi and the Helicopter Ben Bernanke; who is not so much as similar …and not so much on their playwright’s page?
But before contemplating the answer, I challenge one to review a particularly interesting perspective by taking a look at the before 2008 and after 2012 balance sheets of the Federal Reserve …I.E.; its asset allocations thereof.
Yesterday morning, I was listening to a CNBC guest commentator reflect upon just this sort of review’s figures. The guest commentator built his startling comparison by contrasting the relative sizes and classes of the assets which the Fed’s held on its balance sheet on two dates …1st, at the end of 2007 and then …secondly, by restating the same classes’ …yet, stating larger figures for the ending contrasting period …which I believe were given as coming from 2010
In doing so, the guest gave the impression that the Fed’s protracted leverage and risk exposure had become built out from a 20:1 ratio to more than a 50;1 ratio.
Now, I understand how the Wizzard of OZ may have felf when he said; “…Pay no attention to the man behind the curtain.â€
Good grief Ben; don’t do as you do …do as you say?.
Now, with respect to systemic risk; is that the sort of leadership by example …exemplary of whatAmericarates?
For notion of an answer to this, one needs look no further than back at the previous politically charged conversations which surrounded the debates which preceded Congress’ recent vote to raise the debt ceiling’s limit.
And, in like fashion …the recent prefacing conversations which allude to and point to what may likely become a possible subsequent second credit rating downgrade; the upcoming January 2013’s vote to further raise the debt ceiling will not be made any easier …as it simultaneously coincides with the conversation and debate which will needs must determine what and how best to treat the issues surrounding what has become aggregately known as “THE FISCAL CLIFF.â€
SO, I GUES ALONG WITH THE OTHER CLICHES …ONE MAY AS WELL LUMP THE FOLLOWING IN WITH THE REST; DON’T PUT OFF TILL TOMORROW WHAT ONE MAY DO TODAY.
TWIST AND SHOUT
And my! How THE FED’S BALANCE SHEET’S components figures have ballooned NOT DOING AS THIS CLICHÃ‰’S WISDOM CONOTES…not merely in terms of its components sheer factors of both size and leverage …but also from a view which contrasts both A CONSIDERABLE RISE IN risk exposure and potential for loss.
The discussion centered around the comparisons of the makeup of the Feds beginning balance sheet (+ $ 900 Bln) by stating the amounts of its equities ($ 40 Bln) relative to the securities ($ 500 Bln) it held at the 2007 period stated.
Next the commentator moved forward a few years (2010 I believe) and stated figures which took the leverage from approximately 20/1 up to over 50/1 in terms of its overall balance sheet holdings which exceeded 3 trillion dollars = more than a tripling of what the commentator stated in his 2007 year end + $ 900 Bln. figure.
From this discussion …from this conversation …one may …as I did …come away with a greater appreciation for his simple revealing explanation which served to uncover an growing greater paradox whenever one mentions the Fed’s phrase; “Dual Mandate.â€
I rather believe that this term has been allowed to mean “TWO-FACEDâ€ instead.
And that is a tragically sad socio-political economic tragedy …totally unresolved …with no appreciable growth …nor, bang for your buck confidently in plain sight.
The reality of just the mention of this Faux Pas should NOW …actually, taken …NOT SO lightly …as in the context of a looming …not so funny paradox …so much as it should be taken as an the oxymoron it has been allowed to become …especially when attempting to contemplate whether or not …the Federal Reserve has failed to serve one’s (the public’s) interests any more or, rather any less than it has continued to act under its license to serve its own ginormous self-interests …NOW being forced to be more inclined, more unbalanced …more overleveraged …MORE FEARFUL of its GREATER POTENTIAL FOR ITS INABILITY TO BALANCE AND MANAGE RISK EXPOSURES RELATIVE TO BOTH INTERNATIONAL AND RELATIVE DOMESTIC MANDATES (THE DRAGGI CURRENCY AFFECT NOT WITHSTANDING) and therefore BE MORE likely to abandon its dual mandate AUTHORITY which is a covenant responsibility granted it IN AN agreement from and by a rather larger moral governing body …the U.S. Congress …which seems to be NOW still more well served the more than even “…We the People …â€
What a pecking order this is?
Indeed! Are you being served?!!!
Are you and your dollar being led?
If so, then …where?
Down the toilet …step for step along with ever flush of the Draggi toilet.
Such sovereignty indeed!
If the answer you arrive at is merely found in a response which leaves you anxiously anticipating the next election any more than currently has cause you to wait on Draggi’s next statement; then consider yourself are not alone.
And at that point in time; I would only hope that after you have done all to stand on your own two feet, I would therefore hope that you are more than prepared to stand on you feet prepared to vote.
And if you personally have come to believe that this nation is being misled, then …after standing up; become prepared to join with me and pray in a NEW SPIRIT …to BOTH …RECEIVE THIS UTTERANCE AND BOLDLY SPEAK up and out AS WE OUGHT TO …WITH ONE VOICE IN ALL OF THAT WHICH TRULY SMACKS OF HOPE AND CHANGE …CHANGE WHICH IS TRULY FOR THE BETTERMENT OF ALL …NOT JUST A SINGLE PARTY NOR A SINGLE JOB (HELLO BEN!) NOR OF A SINGLE HIGHLY CORRELATED ONE-WORLD GOVERNMENT …which is BECOMING a GREATER possibility …EVER MORE LIKELY in light of what is being allowed to swamp out our sacred independent sovereign freedoms …chiefly by reason of what interests lead to service nations totally beholding of THEIR RESPECTIVE debt.
Where is service to God and COUNTRY today? Buried under mountains of growing debt and our service to it. That’s right, we own it; inherited or not.
And we can not afford to burry our heads and believe that it will magically disappear …or SOCIALLY BE MADE to go away …not even with the best well chosen whipping boys, scapegoats. Leading with excuses of derision, shame and belame belittle and belie one’s fundamental leadership capacity. Not even finger pointing …nor ascribing shame and blame will do the trick to hide a problem which has …for the better part of the Obama Administration …gone without ownership.
As is, this appeal to weakness has yet to produce a bold solution of strength which is capable of taking the reins and helm of responsibility in what is now best seen for what it is …a total abandonment of leadership and full ownership for what it is.
Americadid not send a president to the Whitehouse merely to occupy it with a renter’s mindset.
Yet, this lackadaisical slacker mentality in the Whitehouse is principally that which can only be seen as a stark derelictions of all of duty …a direction which is characteristic of a liberal social agenda which has chosen to turn a blind eye on the urgencies and greatest needs of this nation’s economic priorities.
Sadly, over the last + 3 YEARS of this sort of whatever mentality …the order of America’s urgent priorities were …are …and will …continue to largely go wanting …still suffering from abject neglect …still in dire need of a prudent measures, attention, resolve and action.
However, in the lack and continuing wake of such; this administration’s adherence to its agenda’s priorities have, in no means served to lead America forward and out of Her peoples’ quagmire; but rather …merely served to afford Obama the opportunity to redefine Liberty’s freedoms merely as ownership responsibilities which he “…MERELY INHERRITED …â€
AND IN CHARACTERIZING LADY LIBERTY’S FREEDOMS AS A “mess which I merely inherited …â€ OBAMA has enjoyed Lady Liberty’s freedom to continue to make matters worse …rather than better his condition.
And instead of making the most of every opportunity to make for a Better America; Obama chooses to continue along a path in which his only hope to establish and further his legacy is to continue to divide America by his lame appeals which may easily be seen as no more than the least common denominators of self service.
Is this pitiful manner of blame enough to justify giving Obama another four years to continue tearing this great nation apart? I rather think NOT!
In the wake of its abandon …this administration …has given over to Congress …and to the Fed …and to our enemies …an example which may continue along a path of blind-eyed leadership, which ….by doing WHATEVER IS NECESSARY just so long as it leads to SERVE ITSELF.
Americadeserves better than WHATEVER LEADS IN THIS MANNER.
And what is that which testifies to WHATEVER …WHATEVER IS BECOME OF THEE I SEE?
- GERATER DEFICITS
- GREATER DEBT
- GREATER DEBT SERVICE COSTS
- Reduced ability to return FEDERALLY MANDATED SOCIAL SERVICES DELIVERD
- GREATER UNCERTAINTY
- LOWER UNEMPLOYMENT
- SHRINKING GDP
- LESS TAX REVENUE COLLECTED
- SLOWER ECONOMIC ACTIVITY BOTH AT HOME AND ABROAD
- LESS HOPE
- LESS CHANGE
- A FEDERAL GOVERNMENT DIVIDED AND AT ODDS WITH ITSELF
- “…we the people …â€ caught in the crossfire …not being well served at all
- A foreign policy void of the same lack of decisive leadership which lacks the courage and conviction of a more virtuous substance called “Faith in the truth of what precepts this nation was founded upon.
15. Just to name a few …
No wonder our domestic policies have failed to adequately serve this once great nation.
In its present course and condition, I Pray in hopes our nation’s true leaders may receive wisdom and revelation in true knowledge that a singleness of vision and voice may emerge; that once united …will purpose to work all things to served to maintain the unity of the bond of Liberty’s freedoms …and so release this nation principally out of the grips of the ways and means of the fear mongers who have sought to grow out and sustain overly leveraged, oppressive, unworkable …and unmanageable unbalanced policies and dangerous balance sheets …solely under a guise which merely seeks to further its opportunities to efface its debilitating and belittling ways and means as worthy of service to the public good.
Oh brother! How for art thou gone so far astray? Art thou not indeed, yourself …become too big to fail …or are you merely become too big to see your way to serve anyone but self now the more?
How opportune …see “…We the People …â€ any more the better?
God I hope so. And I do so ever more …longing for a more meaningful …more change in all that purposes to serve all with truth and honesty …primarily in pursuit of whatsoever things are just, pure and lovely.
If there be any praise and if there be any virtue; letAmericapursue these things by and in and with leadership which leads by a virtuous best example.