Archive for the ‘economics’ Category

Money’s Swan Song

August 11, 2019

In the beginning God created the heavens and the earth.

Well a lot has happened since then.

Our Creator had done some amazing creating through that original sparkle, and has given us the wherewithal to jump in there and participate in the creative playing out of all things in our domain.

The power to create was not given to other species on our planet—only to us.

We humans have done some pretty amazing things with our God-given talents.

After hunting and gathering, we planted, harvested and ate the fruits of our labors.

in the course of history, we have moved far beyond just eating, drinking and homesteading.

It’s been ever onward and upward for us, since we got a hold of this divine spark thing that we call creativity.

We’ve built pyramids and great walls, temples, mosques, cathedrals, skyscrapers, great bridges and machines that move across those bridges.

We’ve built roads, rails, blazed trails, had great successes and fails. We’ve devised tools, schools, lots of rules; we’ve forged implements, arts, coins, currency, and we’ve maintained a steady errancy.

We’ve painted, sculpted, interpreted the real world as works of art. We’ve disrupted, interrupted, corrupted and upended nature itself.

Now our carbonized creation turns—in some ways—against us.

Back at the olden time, when we received the power to cultivate earth, we were instructed to subdue those elements of the natural world that seem to be active against us—like, say, lions and tigers and bears. Such critters we had to subdue, so they would not make mincemeat of us.

Earthquakes, volcanoes, storms, tsunamis, etc.— these adverse forces we could not subdue, so we took shelter. As the ages rolled by, our sheltering instincts developed into elaborate structures.

And we have done pretty well with that. We homo sapiens have taken control of the planet—or at least we think we have. The planet may yet rise up to bite us in the ass. We shall see what happens with that.

A major sea-change that happened along the long odyssey of our progress was: we devised ways to substitute real goods into artificial representations of wealth.

Better known as making money.

MoneySwan

Land, food, livestock, clothing, shelter and such commodities that are essential for survival—all these are now exchanged by monies, currencies, paper-backed assets. And the latest thing is: electrons seem to be our new currency.

Our ancestors carved trails out of the wilderness. They gathered grains, sowed seeds, domesticated animals, and sold to neighbors or merchants all the produce thereof.

As those primary goods coalesced over the ages as markets, their value was measured and traded as money. This we called trade. Then we called it commerce, then business, and now. . . economics. We humans invented the system a long time ago because . . . well, because . . . I don’t why.

lt’s just what we do I guess.

For one thing, it made the process of manipulating wealth easier.

In economics, wealth was and is evaluated in terms of dollars or yuan or yen, or marks, francs, drachmas, denarii, zlotys, rubles, pesos, pounds sterling, etc.

Euros are the new kid on the block. They seem to have trouble making that one work.

The difficulty with retaining true value in these currencies is related to the fact that they’re—in real survival life terms—not really worth anything.

They only represent wealth. But they are not really the real thing.

I say the EU is having trouble establishing the value of their Euro. This goes way back.

The Brits, for instance, were having trouble in the 1930’s retaining the value of their pound. It seemed that their constructed currency could not maintain its value compared to gold.

Who the hell can compete with gold?

Gold goes way back.

Way back.

The second chapter of Genesis, for instance, mentions gold.

“The name of the first (river) is Pishon; it flows around the whole land of Havilah, where there is gold.”

I suppose there’s a reason why gold goes way back in our history. Even though you can’t eat it, drink it, or keep your household warm with it, it is . . .

quite shiny.

Beautiful stuff, that gold. Precious!

Back to the Brits. As the world economy was falling apart back in the ’30’s, many savvy persons decided they would trade their British currency—pounds—for gold.

So many savvies were wanting to get back to gold, that the British government quit selling it.

What would happen after such an arrangement?

I think it was that fellow Keynes who figured out that—guess what—the economy just kept on cranking—all the goods and stuff and commodities and products and financial instruments and whatnot—just kept swirling around in international commerce.

The world didn’t stop turning. Business just kept on doing their thing. Rich get richer and poor get poorer and hey what else is new.

What else is new? Nothing. Nothing new under the sun.

Guess what. We didn’t really need gold to back currency! It was just a phase we were going through—the golden age of gold.

Back in ’73, Nixon pulled the same trick as the Brits had done in the ’30’s. He and his Bretton Woods powers-that-be decided we could no longer afford to sell gold for dollars. Too many folks wanted the gold instead of the dollars.

So we see that man-made currencies are not foolproof, and the gold bugs are always trying to make a comeback.

Money is a habit; that’s all. A very old habit.

Folks are born and bred into this modern economic world.  We are commercialized, or socialized (depending on your politics) to just keep spending those pounds and dollars and cents and euros and yuan and yen and SDRs and thusandsuch.

Nowadays we don’t really even use the money any more. Now it’s just electrons flowing around that represent debits and credits.

And that’s why—I suppose— the central banks of the world can keep cranking out their reserves, because the right to assign value is now reserved to them. It has nothing to do with gold or fiscal guarantee.

The central banks, in the fatal footsteps of every financial crisis, have reserved the right to “create money out of thin air.”

I told you we were creative!

The greatest discovery of the modern world:  we don’t even need anything to take the place of gold.

Money is just an old habit we have; we’ll never put it to rest. So somebody has to be “printing” it somewhere.  We spend so much money that all the .govs of the world are running deep debts trying to keep all the citizens fat ‘n happy.

There’s so much liquidity in the world today that the dark swan of excess has smooth sailing. Someday, some Leninish strongman will come along and dissolve all that debt into even more liquidity.

It will be a meal ticket for everybody. Yes, Virginia, there is a free lunch, doesn’t matter who’s paying for it.

It’s only money.

Glass half-Full

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From Enlightenment to Onlinenment

May 4, 2019

Peering way back in human history, we find . . . generally, the battles have indeed been won by the strong, and the races are usually won by the swift of our species.

There are exceptions, for sure, but generally you know it’s true. Them who know how to throw their weight around  usually manage somehow to outweigh the rest of us.

The people who manage to work, or fight or compete, to the top of the heap—those folks pretty much stay on top of things until some group or faction that is lower on the pecking order manages to muster enough money, or strength or discontent or firepower or political power to throw the bums out and usher in a new regime of wealth, or weapons, or wherewithal to take charge of things and call the shots.

Throughout history we talk about this and wonder about how to deal with it in ways that are fair and equitable, and maybe even civil.

In the last 300 years of pondering these issues, we’ve moved from the Age of Enlightenment, through the Age of Development, and now we’ve progressed into the Age of Onlinenment.

Three centuries ago, power was all about royalty. The royal houses pretty much ruled the world. They divided it up. Now and then they fought battles, or even wars, to re-draw the boundaries of ownership and authority and hegemony etcetera etcetera.

The printing presses had gotten in gear back in the 1400’s; over time all those mechanically copied manuscripts began to make a difference in everything that happened.  Ideas got spread around through documents and books, and people began to think more, exchange ideas and information more, think differently about themselves and the world they lived in, and . . .

People got smarter, or at least they thought they were smarter. At any rate, they had more information (more data!) to work with. Many of these smart folks figured out that they could work their way out of indentured servitude or serfdom or whatever royal arrangement had been holding them back.

So they moved off the estate, and into town; there they set up shop, doing business, making goods and services that people needed.

Capitalism was born. . . little people doing business and making it on their own.

Along with capitalism came the age of Enlightenment, a time in history when more and more folks were figuring out that hey! we can do this this thing we don’t need the bluebloods up in the castle to tell us what to do.

Although it took a century or two for these changes to really make a difference on a societal level, eventually the newly emerging middle classes had enough members and resources and smarts and clout to push the old fuddy-duddy royals out of power.

It was a long bloody process. Our American revolution busted out and changed the world forever.

Revolutions (1)

The French did an even bloodier version when they guillotined the Bourbon monarchs. As the proletarian uprisings gathered steam across Europe,  Napolean and Marx and hordes of discontented Europeans got out in the streets to rearrange the economic structure of things into a state more fitting to their demands.

Eventually, the Bolsheviks in Russia managed to run the royal Romanovs outa town. The new revolutionizing proletarians cornered those royals and put  bullets into their fair-haired Romanov heads.

Further down in Europe, the same Revolutionary zeitgeist was burning hot. 20th-century Liberation busted Western civilization out of its old royal antiquities. Along with the supposed modernizing came a bloody mess called the World War I.

Archduke4

When the guns were finally silenced in 1918 and the smoke cleared and the dust settled, the world was a different place.

Most of the royal houses had been run out of their big houses; what was left of them were cornered into ceremonial roles, and a new way of doin’ things became the order of the day.

Our yankee country country here had a lot to do with the way things turned out. After we had sent King George and his reds back to Britain with their tail between their legs, we had a whole, vast, 3000-mile continent just waitin’ to discover what the steam locomotive and the motorized tractor and the combine and the cotton gin and the blast furnace and everything from Pittsburgh to Pacific was all about.

And by the time we got to the Pacific, by crackies, the world was mechanized.

We had wrought it into a whole New World.

However, as things developed here in the 19th-century in the big wide bustin’-out USA, the ancient hierarchical tendencies of the human race had re-asserted themselves the fray, and before you know it—in spite of all the wide open spaces and new opportunities— we were back into a situation where the rich got richer and and the poor got poorer.

As the tycoons and magnates—Carnegie, Rockefeller, Bell, Edison, Morgan—got America all cranked up on oil and gas and electrical power, they formed companies.

By ’n by, them companies grew and prospered, and—long story short—those little startup corps from our late-19th, early 20th-century developments eventually morphed into giant corporate behemoths.

Even so, every now and then throughout the last century, a big economic reset button gets pushed somewhere and the forces of mankind whack the hell out of all our wealth-gathering institutions.

The biggest Depression hit back in ’29 and hung itself around our necks until the big guns showed up to blast us out of the trenches. After the Second Big War, we had a big round of wealth-spreadin’, middle-class widenin’ expansion with more folks than ever before jumpin’ on the middle and upper-class band wagons.

It went on a half-century or so, with ups and downs along the way but most everybody gett’n’ at least a little better off along the way, until ’08 when another whopper hit wall street; it dumb-struck the powers-that-be for a few weeks until they got their act together and yacked their way into a deal in which We the People baled them and ourselves out of what would have been disaster, or so the tale is told.

Anyway, here we were a century+ past those robber barons and big wheels and under-the-table deals, and the corporations are thought to be running the whole shebang.

19th-century: the Royals, kings and queens, monarchs, dukes, earls, counts, etcetera etcetera

20th-century: CEOs, CFOs, Chairmen of the Boards, etcetera etcetera

All along the way, a whole lotta regular folks have jumped onto the Corporate bandwagon and wiggled their way into some of the booty therof. Out here on the coasts and in Flyover country, a whole lot more of us consumers are in a big way dependent on this Corporatized way of doin’ things.

By the late 20th-century—and now going into the 21st—the upper-middle-class’emites who keep the electrons and the debits and the credits and the assets  hummin’ along through that vast Corporate power Web— they are pretty well fat n’ happy, like their blueblooded ancestors.

Their modern morph-up into class and privileged status was Corporate-fueled, not Royal-based like in the earlier versions.

Especially since ’08 when the whole financial world blew apart again and We the People bailed the Bankers and their kissin’-cousin Corporate mavens out.

In this round of history, the Discontents among us not using the printing press so much to drum up all this protest and pushback we see rising . This time it is more about the the Twit and the Web and the Net.

We’ve progressed past Enlightenment, past Development . . .

to Onlinenment.

DigitHeads

And by means of this digitized Onlinenment, folks are gettn’ all hot n’bothered again, and workin’ themselves into a tizzy about those same ole inequality-breeding patriarchal tendencies, which have forever reared their privilege-seeking heads into positions of authority.

We find ourselves once again passing Go. Roll the dice and collect $2 million. And so the rich get richer and the poor get poorer. What else is new?

But this time the disruption is not about throwin’ out King George or King Louie or Czar Nicholas or the Archduke of Serbia.

In this round, its about throwin’ out the Corporate mavens and their kissin’-cousin Politicians, and maybe even the Digitheads along with them, and then replacing them with . . .

um . . . with what?

Y’all Discontents be careful now. We don’t want any more Stalins or Maos, or even Chavez. Let’s talk about this.

Go easy on us who are fellow-travelers in this planetary arrangement. Let’s not throw the baby out with the bathwater. Don’t wanna throw the can-do out with the carbon.

Glass half-Full

The Knave New World

May 2, 2019

In 2007, Alan Greenspan published a fascinating book that chronicled not only his own life, but the life of the monetary world in which he grew up,  and in which he ultimately played a major role as Chairman of the Federal Reserve.

  https://www.amazon.com/Age-Turbulence-Adventures-New-World/dp/0143114166 

Mr. Greenspan’s keen observation of contemporary monetary history is demonstrated throughout the book. On page 92, Alan had this to report about the legendary Reagan tax cuts of the 1980’s:

“The cornerstone of the Reagan tax cuts was a bill that had been proposed by Congressman Jack Kemp and Senator William Roth. It called for a dramatic three-year, 30 percent rollback of taxes on both businesses and individuals and was designed to jolt the economy out of its slump, which was now entering its second year. I (Greenspan) believed that if spending was restrained as much as Reagan proposed, and as long as the Federal Reserve continued to enforce strict control of the money supply, the plan was credible, though it would be a hard sell. This was the consensus of the rest of the economic board as well.

But (David) Stockman (Reagan’s Budget Director) and Don Regan, the incoming treasury secretary, were having doubts. They were leary of the growing federal deficit, already more than $50 billion a year, and they began quietly telling the President he ought to hold off on tax cuts. Instead, they wanted him to try getting Congress to cut spending first, then see whether the resulting savings would allow for tax reductions.”

Well good luck with that!

And gollee, that was about 39 years ago, and about 20 trillion $$ of federal deficit ago. . .

Ronald Reagan, God bless ‘im, was the last of the Mohicans of old-style let’s-try-to-balance-the-budget school.

Yet we still pay lip-service to that principle.

But–let’s face it– those days are gone forever. They went out with with saddle oxfords and gumball machines and  Archie Bunker and 1-cent lollipops and debits on the left with credits on the right that balanced each other out.

Now Reagan, God rest his soul,  is no longer with us, nor Kemp,  and the world is a totally different place. Ronald Reagan was the last of a balancing breed that has vanished into fiscal history.

The cowboy hero has ridden into the sunset.

David Stockman is, however, still with us, and still living in the past,  still harping, God bless ‘im, on old-hat financial and fiscal responsibility. Good luck with that, Dave!

https://www.deepstatedeclassified.com/dsd20190426/

In his most recent newsletter, David Stockman posted this assessment of our present situation:

“The Main Street economy is failing. But the Wall Street fantasy is thriving. You can lay responsibility for this dangerous disconnect at the doorstep of the Eccles Building.

The Federal Reserve’s extreme monetary central planning regime long ago disabled capital markets and destroyed price discovery.

Bubble Finance has euthanized workers and savers and lobotomized traders and speculators.

And our monetary central planners know it.”

While Mr. Stockman’s assessment may very well be true, it may also be irrelevant.

The world . . . as it always does and always has, has changed.

Tap your ruby slippers together, David.

RubySlippers

and close your eyes and realize: We’re not in Kansas any more. All the rules have changed. Take off your rose-colored glasses.

We’re not wheelin’ and dealin’ in ole Wall Street any more, or Peoria or Pittsburgh or Palm Springs. Now we are in, as Aldous Huxley once said, a Brave New World. . .

A world in which monetary markets and price discovery are no longer the primary determinants in the money game. . . a world that has, yes Virginia, yes Alice and yes Dorothy, been commandeered by a thunderous consumerist horde who have no wish to be bound by these old financial fuddy-duddy obsolete principles, a world that has been fundamentally transformed by Keynesian realpolitic and by the pragmatic keep-bailing-this-boat central bankers of the world with their legions of yassah data-crunching technocrats to maintain the welfare of us all.

And we will never go back.

Because money itself is, and always has been, truth be told, worthless, being nothing more than klinky coins that can get you a wad of chewing gum, or paper bills that can get you a sugar-high from a vending machine, or electrons that can get you a charged-up night on the town, or a day in the sun, a week at Disney if you’re lucky, and a health-insured, social-security certified lifetime in this knave new world.

The “Capitalism” of Adam Smith and John Stuart Mill and Jacob Marley and JP Morgan and even Warren Buffet has . . . gone the way of the buffalo.

Now it’s just benevolent electrons whirling around the world taking care of everybody.

And when you finally see the writing on the wall, Dave, look at those deficits and . . . read ‘em and weep. Nobody cares about deficits any more.

The central bankers of the world will never have to face the music of fiscal responsibility that keeps ringing in your ears.

We’re never going back to the old balancing acts. Where we’re headed is. . . everybody gets a meal-ticket as long as all’s quiet on the Western front and the red sun still rises in the east. Welcome to the knave new world.

Glass half-Full

Green Money

March 20, 2019

It has been about 200 years since our great American expansion picked up enough steam to really get going full throttle.

From Maine to Miami, from Seattle to San Diego and everywhere in between, in our humongous exploitive thrust westward, southward, and  every whichaway you can think of— we went bustin’ through the Adirondacks, the Appalachians, across the  wide prairies, over Big Muddy, up the Missoura and all the way down to the Rio Grande, through Sierras out to Pacific shores, even leaping oceanward and skyward to Hawaii.

EucTre4

Back in the day, when we got into the thick of that vast continental expedition, we moved over and through rolling virgin landscapes of living green.

Green were the great evergreens of the North. Green were the hardwood forests on coastal plains, on Appalachian slopes, on heartland grasslands. Green were the piney woods of the South. Green were the grains of the far-stretching prairies.

And the certificates by which we assigned value to our works—these too were green.

Dollars—we designed them in green.

Dollar

So, green were the dollars that transacted our nation through thousands of ventures, millions of contracts, compelling trillions of working hands that were capitalized by investing hands, then driven upward in value by speculating hands and traded cleverly by arbitraging wallstreet whizzes.   

Some newly-immigrating Americans moved independently, others collectively, across the continent. All along the way they cultivated green crops and earned green dollars wherever they settled, digging, mining, organizing co-ops, forming companies, building roads and bridges, collaborating, accumulating capital, incorporating, expanding, growing, thriving, burgeoning and burdening.

Burdening the earth. Extracting to the max all along the way. Tow that line; tote that bale. Milk it for all its worth.

By the time mid-20th century rolled around, ole mother earth was bursting at the seams, displaying scarred hillsides, scraped-out open-pit mines, hollowed-out insides, chemicalized sores, oozing green slime. . . but enabling us thereby to whiz along on continent-wide  interstate rides. Hey, let’s pull over for a song break:

  http://www.micahrowland.com/carey/Deep Green.mp3

We grew up with stock-green scenery whizzing by outside the windows at 65 miles per hour— seemingly insignificant landscape sliding through the view on our way to wherever our best-laid plans of mice and men might propel us.

At ramping exits we egress to fill-up on the American dream, then cruise control at 78 mph in our lean dream transportation machines. Green, green is just a tucked-away scene behind the gas station.

Still yet are the the dollars green, but only in our minds, because now we’ve digitized them so we don’t actually lay eyes on them $$ any more.

And then, lo and behold, a new thing happened. Motivations morphed. The politics that drives our nation states began to turn green.

Whereas, before, red, white, and blue were the colors that motivated us.

Now we find that the ole faithful red, white and blue of Liberty has run its course through world history. Those other nation-states that had followed our galavanting, capitalizing lead. . . now they have fueled their engines with our money-green currency, and they did park billions of our little federal reserve notes into every marketplace and bank vault across the globe. . .

But what goes around, comes around, and when it recycles, it morphs as something different.

Alas, so now what new Green through yonder Continent breaks?

Turns out that some Keynesizing technocrats have devised a means to turn the whole financialized world around so that the new motive—the re-greening of earth—becomes society’s great purpose and goal. On the old economic scenario of Supply and Demand, Sustainability arises as the new Remand.

Instead of the profit motive! Instead of Go West Young Man, now we find a new clarion call: Go Green Young Band!

     https://www.socialeurope.eu/green-money-without-inflation

Will it work?

Glass half-Full

What about this Post-capitalism?

March 3, 2019

There are a many constructive ideas floating around in the world today.

Some are commendable, others not so much. If people propose plans for making the world a better place, then let’s hear them. Let’s consider those plans.

In our present big picture, the hot-button point of contention seems to revolve around the fate of free-market capitalism, in an age of diminishing planetary tolerance.  Is capitalism as we know it an appropriate framework for just and equitable economic development in our present, allegedly climate-changing world?

Are free-market institutions still appropriate for our collective life in the postmodern 21st-century?

Can free-market capitalism even be retained in our planetary future? Or will it be overpowered by some new 21st-century tamed-down socialism?

Generating from some academic and technocratic quarters, we find revisions of the old Marxian ideology, along with assurances that the world has certainly learned hard lessons through the disastrous failure of 20th-century communist experiments.

At  https://www.socialeurope.eu/postcaptalism-unbearable-unrealism , Paul Mason writes:

    Moving to postcapitalism does not entail eradicating market forces overnight or accepting the command-planning methods of Soviet economics. The aim is to design a controlled transition in which market forces cease to operate as the primary allocator of goods and services on the planet, in which the state shrinks and the debt mountains are dismantled.”

and

   “In the past 15 years we have built a highly dysfunctional system, which is unsustainable on all traditional assumptions. It is a system of permanent single monopolies, with massive rent-seeking and financial exploitation, the creation of low-wage, low-skilled jobs designed to keep people inside the system of credit and data extraction, and massive asymmetries of power and information between corporations and consumers.”

Now, as a centrist conservative American, I read those above words and they somehow ring true. There is a sense in which I feel there is maybe some realistic MainStreet experience  missing there, but I see that Mr. Mason raises valid points, which are worthy of our consideration.

On the other side of the debate, Jordan B. Peterson has a different take on our world problems and how to solve, or at least address, them.

At  https://www.youtube.com/watch?v=YXgZAdaMtS8&t=35s,      he says:

     “If you’re tilting toward the left, and you’re temperamentally inclined that way—and half the population is—then you have an ethical problem on your hands, which is . . . how do you segregate yourself from the radical policies of the 20th century? “

and

“. . . two things exist in a very uneasy (leftist) coalition in the West—there’s care for the poor, and hatred for the successful.  Those two things are not the same at all . . . and it looks to me that one of the things that really happened when the communist doctrines were brought into play , and also by the way we did the multi-national experiment.  It doesn’t matter where you put these policies into play . . . the same bloody outcome occurred. Didn’t matter whether it was Russia, or China, Cambodia or Vietnam—pick a random African country—or Cuba or Venezuela, for that matter. . . it was an unmitigated catastrophe. That has to be dealt with.  The intellectual left in the West has been absolutely appalling in their silence on the communist catastrophe.”           

Dr. Peterson, the speaker of these words just above, is a Canadian professor of Psychology at University of Toronto.

Down here Stateside, we have a sizable number of Americans who agree with his assessment. That supportive group includes the this blogger.

Back in 1989, freedom-cultivating citizens, such as I, thought we heard the ringing resonance of a Liberty bell when the Soviet Union fell apart and the Berlin Wall came down. We were patting ourselves on the back after those historic events, especially because Kennedy had gone to Berlin in 1963 and spoke:

    “There are some who say that communism is the wave of the future. Let them come to Berlin. . . Freedom has many difficulties and democracy is not perfect, but we have never had to put a wall up to keep our people in . . .”

And then later, Reagan went over there and said:

    “Mr. Gorbachev, tear down this wall!”

Well, the Germans did tear down that damn wall, and the subjects of Soviet domination throughout that terrible empire wasted no time in tearing down—not only a wall— but much more. . . the Soviet Union itself.

Like Humpty-Dumpty it was.

So the question remained: Would they, could they, tear down all that Marxist communist ideology that had built that wall under threat of gulag imprisonment? Could they expose and dismantle the Statist oppression that had built all the gulag walls? and the Stalin statues, and the tanks and the nukes, etcetera etcetera.

That would take a long time, and it has taken a long time. But in some ways, that early 20th-century tide of Marxist oppresso-utopian wishful thinking is seeping back as a kind of theoretical, kinder, gentler socialism.

So the question becomes: is there any part of the Dr. Jekyll Marxian collectivist ideology that is workable and fair? and, as for the Mr. Hyde alter ego: Is there any part of that disgraced Soviet that would creep back as fierce totalitarian servitude?

Cmnism

On the other side of 21st-century civilization, at the same time, and as long as we’re at relative peace in a cooperative globalist attitude, another question arises: What parts of FreeMarket Capitalism are still workable?

Tiananmen talk

Advocates of our free-market democratic republic must admit, for instance, that yes, Virginia, Freedom and free-market capitalism does have its problems. It always has, although those troubles do not necessarily disqualify the free market as a model for economic well-being.

The weak spot in our capitalist framework was exposed in 2008-9, when our financially engineered wall street perpetual profit, speculative machine flew apart, and sent all of us free-marketeers high-tailing it for the exits.

Statistics reveal that since that disruptive correction in the fall of ’08, a stubborn stagnation has taken hold of our economy. Even though the Fed cranks out statistics to reinforce the notion that we have recovered . . .we have not recovered.

You call this a recovery?

No way!. I grew up in the ’50’s; I know what a real recovery looks like, and I worked my way through the ’90’s.I know what a truly busy, productive economy feels like.  And whatever we got now—this ain’t no real recovery.

  This is stagnation.

The Feds got all their numbers trying to convince us that all is well, but the truth is: So many folks are not making enough money to prosper. They’re just gettin’ by. Meanwhile so many speak of a widening inequality gap, and although I don’t really see the world in those “class warfare” terms, I suppose that, in some sense, yes Virginia, the rich are getting richer and the poor are getting poorer.

But then, hey, hasn’t that always been true? We shall see. At any rate, let’s not get all commie-bent out of shape about it. Just keep busy. Find something helpful to do. As Jordan says, responsibility gives life meaning. You can start by cleaning your room, and thereby making the world a little bit better place.

Glass half-Full

Where to now, Homo Developus?

January 16, 2019

Everybody knows that a few years ago we had a big economic breakdown. There were many reasons to explain  what happened in 2008.

Let’s step back in time a little and consider what has taken place on Planet Earth.

During the 1800’s and 1900’s our developed nations undertook a vast, worldwide surge of industrial development, which was accompanied by a universal expansion of business and corporate prosperity. This hyper-expansive phase of human development required very large-scale extractions of natural resources, which were then transformed into mega-stocks of consumer goods.

An abundance of consumer goods brought forth an abundance of consumers.

Consuming.

Consuming the goods, consuming the planet.

The end of the 20th century brought a vast slowdown. It happened in the fall of 2008, and regardless of what the bullish analysts and stimulus-chasers declare, we are still mired in that big slowdown of ’08.

And will continue to be. This is going to morph into a vast leveling out. The industrial age is over. Our planet will not tolerate another 200-year extraction expansion.

Now we have entered into the Age of Sustainable Technology and Appropriate Industry.

And herein a question arises.

Who will run the world?

Is there a cartel of Carnegie, Rockefeller, Edison and JPMorgan-types out there who will forge a new system to transform the old Industrial Infrastructure into the new Sustainable Society?

As the next surge—the post-industrial phase— is being initiated by a new breed of Industrialist . . . the Gates, the Jobs, the Bezos and Buffets . . . the industrialized Civilization stumbles into a new Electronified Zone.

A digitized twilight zone, as it were.

In the wake of the great ’08 Slowdown, we encounter a host of questions that define the logistical problem of where to go from here.

During the Investment Segment’s breakdown of ’08, a lot of very complicated financial engineering became unwound.

One financial analyst, John M. Mason, recently offered an explanation that includes this analysis of what happened in the financial world during the decline of our industrializing phase:

But, in the developed world, the presence of lots and lots of liquidity means very little in the way of corporate capital investment. The environment of credit inflation, built up over the last fifty years of so, has created a culture of financial engineering in the business community and, consequently, corporations act differently now than they did when most of the current economic models were constructed. Government stimulus gets built into greater risk taking, greater financial leverage, and financial investment, like stock buybacks.

   (https://seekingalpha.com/article/4233178-supply-side-world-europe-well-united-states?ifp=0&app=1.)

So it seems to me that the financial guys—the wallstreet wheelers and dealers, etc—having running out of real new industrial infrastructure to invest in, turned to MBS schemes and CDO games in order to keep their game going. Instead of their oversized financial whirligig running on old Industrial Growth stimulants, they rigged it to run on the fumes thereof.

Now in a post-industrial age, we find ourselves as a species, Homo Developus, scratching our heads and wondering where do we go from here?

It just so happens that, in the wake of the Great Industrial Expansion of Planet Earth, there emerges a vast bureaucracy of Smart People—number crunchers, economic theorizers, technocrats, academics, programmers, bureaucrats, not to mention the mysterious ghosts of AI —who propose to reconstruct the detritus of the industrial age into a systemic quasi-social Union that will make sure everybody is taken care of.

And so I’m wondering, what’s the best way to administrate such a civilization?

What’s the best system for governing a federation of post-industrial nations?

What’s the the most effective strategy for managing a cushy, highly-developed Society?

What’s the most humane political structure to assure income and health for all citizens?

Should Europeans, for instance, appoint multiple layers of bureaucracy to enforce labor laws so that every person has a guaranteed income?

Should the State take control of business so that everybody gets a minimal piece of the pie?

And these philosophical, or sociological questions arise:

What motivation compels some individuals to seek opportunity and then develop that opportunity into abundance and prosperity?

What drives the go-getters to excel in economic pursuits? What motivates them to acquire work, money, property, resources, and then manipulate those assets into an overflow of wealth?

What incentive impels them to take care of themselves and their families?

On the other hand, what compels some other people to, instead,  take charge of bureaucratic agencies in order to administrate a Society that assures everyone a minimum of economic assistance?

What drives some analytical people to write laws and devise policies for systematically managing governmental bureaus to assure that everyone is taken care of?

Who is in charge here?

Who is going to run the world?

Will it be the go-getters, the pioneers, movers and shakers, developers, entrepreneurs, rule-breakers, industrialists, business mavens?

Or will it be the wonks who manage the world—the academics, the specialists, bureaucrats, rule-makers, policy-crafters, the tweakers of governmental largesse?

EURomeHdq

Consider Esther Lynch’s observations:

The ETUC has watched the rise in precarious working conditions in Europe—platform working, zero-hours contracts, bogus self-employment and so on—with deep concern. Research in the UK found that young people on zero-hours contracts, for example, were far more likely to report mental and physical health problems than their counterparts in stable jobs. A study by the University of Limerick in Ireland warned that people on non-guaranteed hours could become ‘trapped in a cycle of poverty which strengthens employers’ control’, generating a fear of being penalised if they raised grievances about working conditions. In response, the Irish government has taken steps to prohibit the use of zero-hours contracts, unless the employer can show a genuine business need. Guaranteeing transparent and predictable working conditions would have wide-ranging benefits, in terms of workers’ health, work-life balance and employee retention.

  (https://www.socialeurope.eu/tackling-insecure-work-in-europe)

What does the peaceful development of Civilization require? Management by one, or the other, of these two types? Or Both/and?

Is Civilization founded upon a principle of every man/woman for hmrself?

Or will it settle into BigBrotherSister administering a vast Guarantee for All?

Or something in between.

Keep your eyes open to watch what develops.

Smoke

The European Project

September 19, 2018

The Beginning of the End of the Royals running Europe started with an upstart French officer named Napolean and a musician from the German outback named Beethoven.

The End of the Beginning of the End came when Austrian Archduke Franz Ferdinand was assassinated in Sarajevo in 1914, the event that ignited the First Big War.

Archduk4

The End of the Royals running Europe came when the appointed Generals, elected Presidents and Prime Ministers of a war-crippled Europe assembled in Versailles, France, in 1919.  The secular Leaders began trying to pull the pieces of Europe back together again, to reset Euro Civilization on a new Democratic/Republican game-plan.

StreetValncia

Since that time, the Europeans have had a rough time of pulling themselves together as a political entity. To begin with, the rubble-heaps of post-WWII Europe ended up  in a new polarity of two distant controlling hegemonies—the US and the USSR. These two emergent political empires  were centered  far outside of the fanciful entity we know as Old Europe, which existed in previous history as a continental area governed mostly from these ancient Capitols:  Athens, Rome, Madrid, Paris, London, Berlin, Warsaw, Prague, Budapest, Vienna, and—a most honorable mention—Geneva.

I call Geneva  honorable  because it is the City  on that grand network most associated with a very important concept: Peace.

The Peace of Europe had been, for 1900 years, an elusive State of Affairs, which somehow managed to survive as a glimmer of hope in the Heart and Soul of a quasi-mythical Europa.

Europe is very old, but contemporary Europeans have taken on a venerable Project to form a European Union. Exactly what that is, is a matter of political evolution, politics, compromise, and of course, Money.

This EU is a logical step forward, because the formerly long-hoped-for Peace of Europe has been flourishing since Allied victory was won at great cost of blood sweat and tears, in 1945. By the grace of God and Man, Europe has been at peace with itself since that time, 73 years.

But the next step beyond the Peace of Europe– European Union– is a prospect as elusive as finding the Holy Grail, or Valhalla, or Arcadia, or Elysian Fields of Camelot or Heaven itself.

But its political success is nowhere as easy as the Prospect for Unity that we Americans had back in the day. We had a vast, undeveloped continent as a frontier, which was populated originally by primitive tribes who were unorganized and unprepared to deal with our transplanted European development Mindset.

Most of us Americans had ancestors who wandered via Ships across the Atlantic to—as it turned out— find and construct a New World. Our forebears were confronted only by those undeveloped tribes who were already here, and a bunch of competing, mostly-poor immigrants like ourselves from different mostly-Euro traditions.

We certainly had some problems along the way, getting it all together as the United States of America. We even had a goddam Civil War trying to get it all worked out but we managed to get through that and keep the Union going, and expanding all the way to the Pacific shore.

Yes, we certainly had some problems getting it together, but our USA has been, relatively speaking, a light-duty Project compared to what the Europeans have been dealing with since the Collapse of the Old Roman Empire.

We New Worlders had advantages. We did not have, you see, all that  2000-year-old institutionalized sociological, economic and ethnic baggage that the Europeans have had and still have that keeps them caught up in differing National Purposes and Visions.

Presently, between the Teutonic bean-counters and the Mediterranean lay-backs, Europe just cannot get it together to decide how all the Expenses of governance and economic maintenance can be Paid-off.

Now we Americans don’t necessarily pay our Public Deficits either, but at least we are United in our rhetorical affirmation of equality and justice and Credit for All.  So we just keep running up the Tab and nobody gives a dam, because we have been, for a awhile, the, you know, new kid on the block and king of the hill and all that and we can get away with it.

Whereas the Euros are presently arguing about Who is going to pay the bills—the Teutonic bean-counters or the Mediterranean lay-backs.

We Americans cast a trans-Atlantic glance at them and express our deepest concern and well-wishes for a continuing Progress toward the elusive European Union and we say wholeheartedly:

Good Luck with that!

Now here’s the good news.There is a bright lining that envelopes this present Cloud of Complex Cooperation in Europa.

French President Emmanuel Macron has now proposed a new plan whereby the burdens of EU Debt, Expense, Governance and Administration of the EU are Dealt-With according to (as my American online ignoramus self-satisfied cyber-awareness would understand it) gradations of Participation, Responsibility and WhothehellCares-Responsibility in the EntitiesUnited of Europa.

These levels of Participation will be most heavily taken Seriously and Attended-To by those State/entities that are closest to the Center of Power and Influence. The peripheral Nations/States will be garnished according to their relative positions in the  outgoing Concentric Circles of Europe.

These Circles are most likely actually Parabolas. Because the actual Working Center of Europe consists not of one Point, but rather, Two Points, where the real Movers and Shakers (Bankers) of Europe run their Industrial/Financial Empires.

The Two Points are Berlin and Paris. There is a Third Centric point between them: Brussels, which is the errand by for Paris and London.

So we see that, with  Monsieur Macron’s proposed plan for the widening Circles of Influence, Europe has great Hope for the Future.

It may be a plan worthy of implementation. The Europeans have achieved Success in the Development of an essential condition: Peace.

Now it’s just the Money that’s hanging them up.

This American believes that the pesky Arguing about Who pays the Bills is actually Progress, because it is qualitatively better than Bombing each other! So they must have gotten something right, beginning back in ’45.  They have indeed  come a long way since Sarajevo in 1914.

TrainBarc

One more thing, very important. This American notices that, in spite of all the different member nations with different languages and politics and values, their system of Trains and Metros puts ours to shame. With just a mention given to their impressive High-Speed, Efficiency and Clockwork Precision, the most endearing characteristic of the Euro rail is Ease and Comfort. Taking a Euro train trip from one city to another is a much easier and far more comfortable Prospect than doing the yankee airport runaround, with sardine-contortion seating and  limited passage in the aisles when you may have to pee. Most important of all–the train seats are comfortable, roomy, easy to get in- and out-of, and less pricey than planes.

Maybe we can teach them something about Debts Pretension, while they teach us something about Running the Trains.

EuroTrain

Smoke 

Feeding the Birds and the People

June 8, 2018

While staying on Kauai, Hawaii, I have been observing a cardinal every morning. This beautiflul red bird has lighted upon the deckrail, shortly after each sunrise each day. His visits demonstrate a boldness on his part to venture into areas of human domain. But that boldness is tempered with a shyness by which he promptly flys away as soon as I make any movement in his direction.

Comparing these bird encounters with similar episodes at our home in the Carolina Blue Ridge, I surmise a personality trait that seems to be characteristic of the cardinal breed. It’s probably my imagination that the  colorful creature has some comprehension of his special status among the kingdom of the birds. He seems to understand  (or so it seems to me) that this human is fascinated by his flashy appearance; he also knows that his bright profile is, in some settings, a liability, because the bright red makes it easier for nearby predators to catch sight of him and perhaps eat him.

However, Mr. Cardinal’s skittishness did not interfere this morning with my continuing attempts to capture a pic of him. I was pleased this morning to find that the different physical arrangement here in Hawaii have made it possible for me to snap the pic.

FeedCardnl

My Christian perspective on life in this world prompts me to accompany this amazing  (to me) photo with a scriptural reference. Here’s the first one I thought of, in the words of Jesus:

“Look at the birds of the air: they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they?”

In this case, I, human, am representing the heavenly Father in dropping those cereal crumbs onto the deckrail for our scarlet friend.

Meanwhile, feeling satisfied that I have managed to capture, here in Hawaii, that flighty image of the bright cardinal which I could never manage to obtain back home, I’ll cast another crumb of interest in here for you to nibble on.

Before Mr. Cardinal visited this morning, I was continuing my read of Edward Joesting’s excellent book on Kauai, Kauai: The Separate Kingdom.   

https://www.amazon.com/Kauai-Separate-Edward-Joesting-III/dp/0824811623/

In chapter 7, Mr. Joesting reports on the beginnings of commercial agriculture on the island of Kauai. The earliest enterprises were initiated by a trio of American business partners who were working with Hawaiian leaders with assistance from Christian missionaries who had arrived in the 1820’s.

Long about 1835, some Americans leased a large tract of land from Kauikeaouli (Kamehameha III) Kaikioewa, the governor of Kauai.

What fascinates me about this development in Hawaiian history is the changes in motivation that Hawaiian working people found themselves adopting in response to the new capitalistic farms.

On page 131 of his book, Edward Joesting wrote:

“In agreement with the philosophy of the missionaries, the lease stipulated that native laborers be encouraged to work on the land. For this right the company would pay to the king and the governor twenty-five cents per month for each man. And it was further stated that each worker would be paid a satisfactory wage and be exempted from all taxation. This taxation had taken the form of labor performed for the chiefs and such other contributions as the chiefs wished to impose.”

As agriculture and business later developed in Kauai during the next twenty years or so, what this arrangement amounted to, economically and sociologically, was this:

Whatever ancient cultural motivations that had traditionally compelled Hawaiian working folk to labor for their tribe and their chiefs—these motivations were being supplanted by new incentives, directly related to 19th-century agricultural scales and practices, and modern, capitalistic business.

On page 132, Edward Joesing wrote:

“The idea of Hawaiians working for an employer who paid them wages, which could be disposed of as the earner saw fit, suddenly introduced a concept of independence that was not easily understood by the commoners and was feared by the chiefs. Adding to the independence of the commoners was the fact that the commoners no longer had to pay taxes to the chiefs. It was more than the average islander could comprehend. There was nothing in their history, no precedent, no legend, that could be used to bridge the gap. . .

On occasion the workers went through the motions of caring for the fields, accomplishing practically nothing. The plantation manager was beside himself (mad). He did not know the Hawaiians still could not comprehend the fact that their wages and the things they bought with them would be their own posessions and coud not appropriated at will by the chiefs.”

My rationale for combining these two different encounters—one with a fresh understanding of historical changes in 1830’s Kauai, and the other with a visiting cardinal this morning—my reasoning may not be entirely clear to you; it’s not even so clear to me, except it has something to do with this quote from a gospel:

“Look at the birds of the air: they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they?”

FieldHawaii

King of Soul

The Prescience and Presumption of Karl Marx

May 17, 2018

If you take the time to read Marx and Engels’ Communist Manifesto, you may be surprised at how accurate is their assessment of the 19th century industrializing world.

Before Marx and Engels were born, back in the last quarter of the 18th-century, the world witnessed two major revolutions, the American one in 1776. and the French version in 1789.

These two major historical uprisings evolved very differently, although they had both originated conceptually with the Enlightenment ideas of Liberty, Equality and Justice.

Here in the USA, all we had to do was eject King George III and his soldiers. We sent them packin’ back to the old country, England. Then we had what appeared  to be a virgin continent 4000 miles wide populated by indigenous tribes who had not yet been industrially developed.

In France it was a very different story. The newfound revolutionaries, after decapitating old monarchs and killing off their privileged network of landed royalty, still found their mob-enforced movement dragged down by a thousand-year-old heavy baggage of entrenched, fortified autocratic economy.

I can simplify an explanation the difference between the American and French Revolutions for you this way:

In France, the whole revolutionary process got a lot bloodier, more vicious, and it took a hell of a lot longer time to play out.

A few years after the revolting peasants decapitated Louis XVI and his queen Marie Antoinette, Napolean came along, took charge of the debilitated French state and rearranged everything. Later, after he went down, France  was in disarray for the next century, trapped in a revolving door of revolutionary fervor, anarchy, stubborn monarchists and a world that was changing faster than you can say “modernizing industry.”

Into this cauldron of overheating European political and mechanizing discontent, Karl Marx was born in 1818.

KarlMarx

Although the young communist was of German birth, his entrance to this world came in Trier, a town very near the French border.

Karl was a very smart guy. During the time of his educated, idealistic youth, he noticed and publicly identified many trends of modernizing industry and economics that were rapidly industrializing Europe and  eventually the entire world. Things were changing faster than a speeding locomotive.

Within all those changes, Marx identified a new socio-economic class that was establishing itself as the new people in-charge, after the fall of the French monarchy (the first of many monarchies that would be destroyed in coming years). This new, rising class of merchants, managers and craftsmen he called the “bourgeoisie.”

In his eerily prescient analysis of that emerging upper-middle class, Marx also hit on a description of  what we would later call ‘globalization,” Marx wrote:

“The bourgeoisie, by the rapid improvements of all instruments of production, (and) by the immensely facilitated means of communication, draws (sucks) all– even the most barbarian– nations into civilization. The cheap prices of its (the bourgeois’) commodities are the heavy artillery with which it batters down all Chinese walls, (and) with which it forces ‘the barbarians’ intensely obstinate hatred of foreigners to capitulate. It compels all nations, on pain of extinction, to adopt the bourgeois  mode of production; it compels them to introduce what it calls civilization into their midst, i.e., to become bourgeois themselves. In one word, it creates a world after its own image.”

During the turbulent 1840’s, Marx labored with his associate Friedrich Engels to describe and evaluate these historical changes. Together they devised a fix for the world’s problem of a new bourgeois upper-class cruelly exploiting proletarian workers. Thus the Communist Manifesto developed. In 1848, they published the first version of their hot-off-the-press world-changing document. Here’s one part of their assessment of a rapidly industrializing 18th-century Europe:

“Modern industry has converted the little workshop of the patriarchal master into the great factory of the industrial capitalist. Masses of laborers, crowded into the factory, are organized like soldiers. As privates of the industrial army they are placed under the command of a perfect hierarchy of officers and sergeants. Not only are they slaves of the bourgeois class, and of the bourgeois State; they are daily and hourly enslaved by the machine, by the overlooker, and above all, by the individual bourgeois manufacturer himself.”

Marx and Engels identified the disruptive attributes of a new, capitalizing economic steamroller of modern industrialization. They foresaw its accompanying alienation, which would, it seemed, forever confound the proletarian working classes  in Europe, Russia and eventually every nation in the world. In the Communist Manifesto of 1848, Marx and Engels wrote:

“The bourgeoisie cannot exist without constantly revolutionizing the instruments of production, and thereby the relations of production, and with them the whole relations of society. . . Constant revolutionizing of production, uninterrupted disturbance of all social conditions, everlasting uncertainty and agitation distinguish the bourgeois epoch from all earlier ones. All fixed fast-frozen relations, with their train of ancient and venerable prejudices and opinions, are swept away; all new-formed ones become antiquated before they can ossify. All that is solid melts into air, all that is holy is profaned, and man is at last compelled to face, with sober senses, his real conditions of life, and his relations with his kind.”

The dynamic theorizing duo, Marx and Engels, had figured out that very disruptive bourgeois-imposed changes were in store for humanity. Little did they realize that the revolutionary, ostensibly corrective measures they would soon be positing would be ultimately just as disruptive, if not more-so, than the maelstrom of rapidly escalating industrialism that was fast overtaking 19th-century Europe.

Marx and Engels went on to concoct an elaborate prescription to fix the world and thus deliver us from the ravages of modern capitalism and its dehumanizing industrialization.

If you look at the implementation of their communist doctrine as it has evolved in the last  century and a half, you may be dismayed at how brutally the zealous proponents of Marxist communism (Stalin, Mao, Ho Chi Minh, Pol Pot et al) screwed up the original idealized vision for world communism.

Which goes to show that the best-laid plans of mice and men are generally worked out in programs and institutions very different from their original visions and versions.

Later, when Socialists came along, attempting to reconcile the old System of autocratic Europe with a perpetually revolutionizing Communist big-fix, Marx pooh-poohed the wimpish compromisers, remarking . . .

“. . . Socialism, however, (does not) understand the (necessary) abolition of the bourgeois relations of production, an abolition that can be effected only by a revolution.”

So here’s my question for Karl and Fred:

Hey, since you did identify  the extremely disruptive, debilitating bourgeois rearrangement of a capitalist, 19th-century world,   would your proposed communist remedy  be less disruptive and crippling than the total, ongoing revolution that a communist fix would require?

I think not.

Furthermore, if subsequent history is any indicator, the changes in human activity that would be necessary to manifest a communist society as idealized by Marx and Engels—such changes would require constant correction, and therefore perpetual revolution.

Doesn’t sound very beneficial, from a human standpoint.

Furthermore, this writer would suggest:

Since your theorized systems for world improvement dictate that the revolutionizing proletariat must cast aside their “opiate” of religion, and thus deny the presence and power of “God” . . .

it would seem that many of the simpleminded 21st-century religious proletariat workers out there in flyover country or Manchester or Italy or wherever—they might rise up and reject the technocratic decrees of their elitist deep-state Marx-inspired EU overlords.

I know you wanta write them present-day uncooperative proles off as “alt-right” and reactionary, but it seems to me they are the same “proletarian” workers that Marx and Engels thought they had identified as the future vanguard of true communism.

Apparently they have something else in mind than technocrat-generated statism, maybe just a “leave us alone” revolution.

King of Soul

Feb5, 2018

February 6, 2018

Floating in New York Harbor, this message was found in a bottle:

Sorry to burst the bubble here but

What the hell happened at 3 o’clock?

DowJ*1:5:18

Somebody yell fire in crowded theater?

Thundering herd, caught up in the Smoke and mirrors!

Blindsided by  a Flash Crash?

Blame it on the ‘bots!

Gotta be them damn short-selling ghosties

in the machine

again

Oh . . . what the hey. . .

The last thing I remember, Doc

I slid into the curve.

Downward, I remember

Downward, I can tell you that.

In the winkin’ of  an eye, and suddenly it’s every man for himself—

and the thundering herd turns tail, reverse

like some slumbering bearish curse,

Stampede!

Blind-sided by the ‘bots, or so I’m told.

Or did Jerome grab  the punchbowl

Already?

Did he pull the plug?

Did he pull  the rug

out, already, from under, 

toppling now, asunder

the elephant in our room?

Watch out!

We’re coverin’ our assets here. But it’s hard to hit

a moving target.

So I’ was thinkin’

This is more dire than a bull in a China flop;

caught in a freefall only the ’bots can stop.

Or until the final bell doth drop

Hell! It’s 4 o’clock;

but I’m still in shock.

We didn’t see it coming, from near, nor far!

you know how your assets are?

What about my precious metals?

Now the dust settles:

Dust bowl

Super bowl

punch bowl, where have we landed?

America has disbanded.

Yet the Eagles have landed.

Where the Eagles gather—’tis there the body’s found.

No more Patriot tricks to score touch down.

No, nay, hardly a sound

there’s no more joy in BeanTown;

mighty Brady has struck out!

Dynasty done, without a doubt.

Who’d’ve thunk it,

equivalent to a Philly gridiron dunk it!

Oh, you couldn’t hear the clock stop

as we watched the black swans flop.

No, we ne’er did detect that long-dreaded pin prick

as it burst our bubble like an e.d.wick,

yet we caught a twit from way, way down

in the beltway, political town

struck dumb now with some eerie Nunez memo

more cryptic than a dreary Ruuskie demo.

But I remember

it was 3 o’clock and then . . .

That’s all she wrote.

Glass Chimera