Archive for the ‘wealth’ Category

Austerity or Stimulus?

February 25, 2017

Well this is an improvement.

When I was still a gleam in my daddy’s eye, Germany fought a world-sized war against France. But now, in 2017, all the obsolete ideology that then fueled both fanaticisms–fascist v. communist–has withered down into a battle of ideas.

Fiscal ideas, like whether budgets should be balanced, or put on hold until things get better.

From a Peace vs. War standpoint, I’d say that delicate balancing act is an improvement, wouldn’t you? Budgets and Economic Plans are, theoretically, much more manageable than tanked-up military campaigns.

Now Germany and France– those two nation-state heavyweights whose fiscal priorities set the course for the rest of Europe–they are getting along just fine now. They expend financial energies trying to keep the whole of Europe humming along on all cylinders. Budget deficits that drag down Euro economies are generated mostly in the lackadaisical southern  economies–Greece, Italy and Spain.

But those two mid-continent economic heavyweights–France and Germany, function as fiscal opposites, polarizing European values and budget priorities in opposite directions. They are two very different countries; and yet Germany and France are not as opposite as they used to be. A lot has changed since they finally made peace back in 1945.

At the time of that last Great War, early 1940’s, Germany was suffering through the death-throes of a dying monarchy. What was left of the Kaiser’s authoritative legacy had been lethally manipulated into a world-class death regime by a demonic tyrant who wore an odd, obnoxious little mustache on his flat German face.

France up to that time was still stumbling through a sort of awkwardly adolescent stage, having booted their kings and queens out back in the early stages of the industrial revolution, and then replacing, in stages, the ancient monarchy with a struggling new Republic.

What the French did as the 18th-century came to a close was similar to what we Americans did, but different. We had ditched King George III in 1776. The French cut off Louis XVI in 1792. On the other side of the Rhine, the Germans kept their Wilhelm top dog hanging on a thread until the Allies ran him down in 1918.

We Americans did a whole new thing after we rejected the old wineskins of monarchic government back in 1776; we had a lot going for us–a vast, nearly-virgin continent that stretched out for 3000+ miles, with plenty of room to grow,  and to expand our new-found explorations for Life, Liberty and Pursuits of Happiness.

The Europeans–neither the French nor the Germans–did not have all that fruited-plains expansion space like we had. They were cramped up over there in the Old World.

Having wielded a fierce guillotine ruthlessness upon their king and queen, the French tried to spread the wealth all around, ensuring that everybody got a chunk of it. They had wrung a blood-stained liberte from the palaces of privilege in 1789. Over the course of the next century and a half, they generally moved leftward the whole time, toward an egalitarian idea of solidarity.

The Germans have always tended toward authoritarian leadership, which is one reason why Hitler was able to pull off the abominations that he did. But we Allies put that to an end in 1945.

Thank God.

Now in the post-WWII Europe, the Germans have turned out to be pretty good kids on the block, considering all that had happened back in the day. The last 3/4 of a century has seen a remarkable recovery. They went through some serious changes, rebuilding after  losing two wars, and then being divide into two different countries.

Since 1990, when Germany became united again into one country, those krauts have established a pretty impressive record. They now have the strongest, most stable economy in Europe.  One reason it turned out this way is: the Germans have historically been, by necessity, very disciplined, rational people and they know how to get things done.

The French are different from that. You gotta love the French. As the Germans have made the world a better place with their great music (Bach and Beethoven), the French have brightened and lightened our worldly life with their very lively, expressive and impressionistic art, coupled with their unbridled Joie de vivre. And let’s not forget the original architectural piece-de-resistance of the Western World. It was French creativity married to inventive 19th-century industrialism that brought us the Eiffel Tower in 1889.

ParisGargoyl

The French do progress with style and artistry; the Germans get it done with impressive efficiency and precision.

As an American who has geneologic roots in both cultures, this fascinates me.

Their two different attitudes about generating prosperity also encompass, respectively, their approaches to solving money problems.

Or more specifically. . . solving “lack of money” problems.

A new book, Europe and the Battle of Ideas, explains how these two nations, as the two polarizing States of modern Europe, each lead in their own way to set policy, together,  for solving Europe’s financial problems. Their tandem leadership is enhanced by their two very different strategies.

The simplest way to describe their treatments of European deficits is this:

The Germans are into Austerity; the French are into Stimulus.

Or to put it into a classic perspective:

The Germans want to balance the books,  thereby squeezing all governments and banks into economic stability. The French want the assets to get spread around so everybody can have a chunk of it.

How do I know anything about this?

This morning I saw Markus Brunnermeir being interviewed; he is one of the authors of the new book, Europe and the Battle of Ideas.

  https://www.socialeurope.eu/2017/02/europes-future-will-settled-battle-ideas/

In this fascinating, very informative interview, the questions are being posed by Rob Johnson, President of Institute for New Thinking, whatever that is.

Together, these two guys explore the two basic problem-solving approaches to working out Europe’s economic deficiencies. And it just so happens that the two main strategies are related to those two old nationalized culture, described above, between Germany and France.

Sounds simplistic perhaps, but this comparative analysis makes a lot of sense when you hear these two knowledgable men talk about the present condition of economic Europe.

So, rather than try to explain it to you, I’ll simply leave you with this list of characteristics, as identified by. Mr Markus Brunnermeier. The list identifies how each country’s budgetary priorities contributes to a strategy for solving Europe’s fiscal woes.  My oversimplified version of it  looks like this:

France

Germany

1.Stimulus

1.Austerity

2.Liquidity

2.Solvency

3.Solidarity

3.Liability

4.Discretion

4.Rules

5.Bail-out

5.Bail-In

Consider these two lists of national characteristics as two different strategies for solving large-scale economic problems.

Here are a few notes I made while watching Mr. Johnson interview Mr. Brunnermeier:

For French, the problem is always liquidity. Stimulus will flush money out of markets again.

Germans see problems as solvency difficulty. Fix the fundamentals. Don’t throw good money after bad.

French: If you see it as a liquidity problem, just bail them out.

German. If you see it as solvency problem,  Bail in, to avoid future hazards. Bail-in means: Bond holders who essentially gambled with a country or bank and  then reap the gains on upside– they should take losses on downside.

There was a radical shift in attitudes in Europe over the Cyprus bank crisis in spring 2013. Who pays? Who covers the losses?

. . . Bail-in or bail-out?

French fear systemic risk so they tend toward governmental bail-outs.

The Germans, on the other hand, see crisis as an opportunity to address and solve the systemic deficiencies. So penalize  the depositors/ investors; others will learn from that, and you will have bank-runs in other places. Such circumstances provide incentives for institutions and individuals to take responsibility for their own actions and investments.

Just how the Europeans get all this worked out, we shall see in the days ahead. And the working-out may provide some lessons for all of us.

Smoke

The Tower and the Ball

February 4, 2017

Out in Berkeley Cal they have a big sculpted ball;

while The Donald building in Chicago is straight and tall.

Berkball

Notice  the Berkeley ball has a chunk out of it,

while The Donald building is a gleaming megalith.

ChiTrump

The blown-out ball suggests anarchic demising,

while the skyscraper implies  capitalist uprising,

We note here in the devolving USA today

we have two different extremisms now on display,

The Berkeley cadre’s unrest has unfurled

as the Donald crowd is getting up in the world,

Some Trumpist whacko named Milo came to speak,

so the lefty radicals in Berkeley had to freak.

In fact the Berkeley riot had gotten so violent

that the talking TV heads could not remain silent.

The Righties said it was instigated by Lefty Professionals,

while Lefties blamed it on Whitey Right Radicals.

Both sides are flinging the fascism word,

to the point that now it’s getting absurd.

In reality however the fascist delusion

stalks us through both Leftist and Rightist confusion.

So whether you’re grabbing power and wealth,

or radical revolution inflicted by stealth,

the real question’s do you plan to kill and maim,

or does your strategy retain the law and order game?

If by the sins of Hitler or Stalin your impose your will,

We the people will oppose you by the rule of law still.

Of dragging us down that murderous path–

don’t even think about inflicting your wrath.

Whether you’re destroying by hook or by crook

we will defeat it by throwing at you the book.

Smoke

A Poem for Christmas

December 24, 2016

Chrsms

Every Christmas season that comes and goes brings an emphasis that is different from previous years. This year’s discovery is something called a “Christmas market.”

This term, which seems to indicate a market that is in some way unique to the Noel season, a market that is more joyously conducted, perhaps, than just any old assemblage of vendors selling stuff. I first pondered the phrase while reading sad reports of the murderous bus driver at the “Christmas market” in Berlin. A day or two later, while Pat and I were skyping with our daughter, who is in Europe, Katie mentioned that Christmas markets are “all over the place” over there.

This Christmas eve morn, I was sitting in the chair by the tree,  listening to Handel’s Messiah, and wondering about the Christmas market phenomenon, and how it might be different from just any old walmart or kreske store. In order to learn what it is, I thought I’d look it up. But suddenly, a star shone brightly in my brain and I decided to write a poem about it instead, without even knowing what a Christmas market really is!

Oh Christmas market, O Christmas market free,

How lovely are your goods to see!

Though not in session when summer’s here,

You’re only in the Noel time of year!

Oh Christmas market, O Christmas market free,

How lovely are your figs and pears to see!

Oh Christmas market, O Christmas market free,

How festive Man hath profited from thee!

Thou biddest us to all buy faithfully,

Our trust in free enterprise, consumerly!

Oh Christmas market, O Christmas market free

How enterprising  Man hath been with thee!

Oh Christmas market, O Christmas market free,

Thy giftings gleam so, so brightly!

Each purchase doth add its tiny part

To make our economy glow and spark!

Oh Christmas market, O Christmas market free,

Thy prosperity doth shine so,  so brightly!

Oh Christmas time, O Christmas time so holy,

Thy nativity’s obscured now almost wholly

by buying and selling of so many services and goods.

We would buy them all, if we could!

Oh Christmas child, O Christmas child,

Where art thou now in this world so wild?

But hey! What light through yonder darkness breaks?

Still through our dark markets shineth

The everlasting light.

The thoughts and gifts of all our years

are giv’n in Thee tonight!

Feliz Navidad, Jesus!

Glass half-Full

Where is the new Frontier?

November 9, 2016

We will need some kind of new frontier in order for significant growth to take hold.

LadyWork

In the early stages of our nation, that growth came from westward continental expansion.

In the 1920’s, growth came from unprecedented expanding consumer markets.

In 1950’s-60’s postwar America, growth came from rebuilding our nation and the world after the Depression and WWII destruction.

In the 1980’s-90’s, growth came from the computerization, digitization and online expansion of American life.

If we are in for a new expansion, what industry or circumstance will be the basis for it?

If the next expansion is going to truly benefit the little people– the losers in that theoretical “income inequality” gap–then our expansion must begin with them.

It’s time for the bootslingers that tread upon American streets, sidewalks and soils to pull themselves up by our bootstraps, because such a thing as prosperity cannot happen as a result of .gov programs.

The advanced, post-industrial condition of our economy indicates, I believe, that the next wave of innovation/expansion can, and must,  come only from the economic micro-units of our heartland.

That is to say, from the garage tinkerers, the workshop wonders, the flea-market marvels, the home front hopefuls, the lemonade-stand lovers of our land who are unwilling to waste away in social media mediocrity and cabled corruption.

Now is the time for grassroots level renewal.

Now is the time for all men and women to come to the aid of their families, their neighborhoods, their communities, our country.

Donald Trump, bless his heart, may be an amazing guy, off the charts and all that, but he cannot pull prosperity out of a half-empty glass economic base.

The glass half-Full mindset will be based, in our future, on learning how to do more with less. The milking of this planet’s resources can only go so far without seriously strategic enterprising  innovation. That principle will be the lesson and legacy of the Obama years.

I hope we have learned, or will learn, that lesson of resourcefulness, and I hope that President Trump will facilitate our building upon that great base of American innovation and enterprise.

Don’t you Americans be looking for no handouts. That well has run dry. It’s time to drill a new one, but it may have to be in your own back yard.

In this way we may perhaps make America great again.

Glass half-Full

A New Bretton Woods?

August 1, 2016

We were in Rome about a year and a half ago, as part of a traveling celebration of our 35th wedding anniversary.

One evening as we were lollygagging through the busy rain-slicked streets and sidewalks, we passed in front of a very special building. It was the Rome headquarters of the European Union, or “EU”.

I wanted to take a picture of the building’s entry, because that is what tourists do–take pictures of important places. Seeking a broader view, I crossed the street. While positioning myself and the phone to snap a pic, the guard across the street noticed my activity. He started waving at me frantically, indicating that what I was doing was not permitted.

Excuse me. I was taking a picture of a public building.

In America, we take pictures of .gov buildings, because we have, you know, a government of the people, by the people and for the people, which means, among other things that the people can take pictures of their headquarterses (as Golem might say.)

Is this not the way you do it in Europe? No pictures of the RomeEU headquarters?

Nevertheless, here is my smuggled pic:

EURomeHdq

If you squint at my little jpeg here, you may discern the guard’s upraised right alarm, a gesture of command intended to communicate a stop order on my touristic activity. It vaguely resembles another raised-arm signal that was in use in Europe 75 years ago, during the regime of Mussolini and that German guy who considered the Italian dictator to be his own puppet.

Or maybe I’m being too cynical about this incident. Maybe the guard was saluting me in some way, acknowledging my importance as an American tourist in the city of Rome.

Now, a year and a half later, this morning, seated comfortably in my own humble domicile, back in the USSA . . . I was pondering the idea of government–whether it is truly “of. . .by the people”, or is it something else? Is it, as many citizens insist during these times of tumultuous societal change, actually an institution through which the “1%” (or as they said back in the old days, the “rich and powerful”) project their oligarchical manipulations upon the rest of us?

I was thinking about this after reading online an article about how the worldwide financial system that has evolved.

  http://seekingalpha.com/article/3993559-back-square-one-financial-system-needs-reset?ifp=0

In this Seeking Alpha blogpost, Valentin Schmid, as “Epoch Times” examines our international monetary system. His analysis appears to be generated from  a well-informed position in the world of money, assets and power.

Mr. Schmid raises the question of whether  the current (worldwide) debt load can ever be repaid, because there isn’t enough “real money” to go around.

This got my attention, because I have been thinking for a while that there isn’t enough “real money” to go around.

Haha, as if I knew about such things. I don’t know much about money; if I did, I would have more of it.

Anyway, Mr. Schmid’s question is answered by his guest interviewee, Paul Brodsky, in this way:

   . . . “I would argue central banks lost the ability to control the credit cycle. Some relatively minor event could trigger a series of events that creates the need for a sit-down among global monetary policy makers who finally have to acknowledge publicly that their policies are no longer able to control the system, the global economy, which is based on ever increasing demand through ever increasing credit.

And what might occur is a natural drop in output. So you’ll see GDP growth begin to fall. Real GDP growth across the world maybe even be going into contraction and that would spell doom for these balance sheets. And this is not something I’m predicting or trying to time at all, but the natural outcome of that would be a sit-down like a Bretton Woods where arrangements are reconsidered.”

   https://en.wikipedia.org/wiki/Bretton_Woods_Conference

So what is coming is, perhaps, this:

To compensate for a stalling of global productivity, the movers/shakers of the world may  construct a new,  top-down rearrangement of the world financial system. The purpose of this revision will be to fix the problem of not enough money to go around. Such an extensive reconstruction as this would be has not been done since the Bretton Woods agreement that was promulgated by delegates from 44 Allied nations in 1944.

In a 21st-century world inhabited by billions of inhabitants, our  accessibility to natural resources has heretofore been determined by how many holes we could drill in the ground to extract natural resources; and how many acres of crops we could plant to produce food; how many factories we could build, and so on. . . building an economy to work toward  spreading the bounty around.

In the future, however, we will be moving to a “knowledge” economy. Wealth creation will not be about how much you can dig in a day’s time, nor how much you can plant, nor what you can cobble together in your back yard or over on Main Street.

Wealth generation in the future will be determined by what you know, so start learning now.

The first three essential  things to know are these:

Reading, Writing, Arithmetic.

Well gollee, maybe it won’t be such a brave new world after all.

However this thing plays out, if enough of us can master these three skills, .gov of the people, by the people and for the people will not perish from the earth, we hope.

Glass half-Full

The American Deal

July 13, 2016

Way back in time, hundred year ago, we was movin’ out across the broad prairie of mid-America, slappin’ them horse teams so’ they would pull them wagon out across the grasslands and the badlands, and then blastin’ our way ‘cross the Rockies and Sierras all the way to Pacific and the promised land of California.

GoGate35

And it was a helluva time gettin’ through all that but we managed to do it, with more than a few tragedies and atrocities along the way, but what can you say, history is full of ’em: travesties.

Troubles, wherever men go– travesties, trials and tribulations. That’s just the way it is in this world. If there’s a way around it, we haven’t found it yet.

  But there has been progress too, if you wanna call it that. Mankind on the upswing, everybody get’n more of whatever there is to get in this life, collectin’ more stuff, more goods, services, and sure ’nuff more money.

Movin’ along toward the greatest flea market in history, is kinda what we were doing.

Taming the land, transforming the planet into our own usages, improving, or so we thought, on God’s original versions.

After that great westward expansion transference/transgression, had been goin’ on for a good while, and a bad while now that you mention it, we Americans found ourselves high up on a bluff overlooking history itself. At Just about that time, them Europeans had a heap of trouble that they’d been brewin’ over there and they dragged us into it on account of we had become by that time quite vigorous, grasping the reins of manifest destiny and ridin’ along, as so it seemed, on the cusp of history, seein’ as how we had been raised up on our daddy’s Britannic colonizing, mercantiling knee.

Then long about 1914, them Europeans dragged us into their big fatally entreched mess over there and we went and fought the first Big War, fought them high and mighty Germans that first time and when we got done with it and got back over here the world was a different place.

I mean the world was a different place, no doubt about it.

For one thing, everybody in the civilized world was so glad to have a little peace in 1920, we just went hog wild.

Everybody got out there a-workin’, roarin’ ’20s zeitgeist, scrapin’ crops out o’ the ground, building great machines, skyscrapers. Edison had electrified us; Bell had sounded the bells of modern communication; Ford had tinkered us into a vast new world of mass production with a horseless carriage in every garage and a chicken in every pot and and we were skippin’ right along like a cricket in the embers.

NewkDev

‘Til ’29, when the big crash came along.

  https://www.youtube.com/watch?v=39RKRelTMWk

Some folks said that Mr. Hoover, great man that he was, was nevertheless clueless, and so the nation turned to Mr. Roosevelt for new answers. FDR, young cousin of Teddy Roosevelt who had been the father, so to speak, of American progressivism– cousin Franklin D., Governor of New York, took the bull by the horns and somehow managed to breed it into a donkey.

So from Teddy’s bullmoose progressivism there arose, through 1930’s-style unemployed populist cluelessness, Americanized Democratic Socialism;  with a little help from FDR’s genteel patriarchal largesse, the New Deal saved Capitalism, or so it is said among the theoreticians and the ivory tower legions who followed, and are still following, in Roosevelt’s wake.

Well, by ‘n by, between Lyndon Johnson’s grand Texas-size vision for a Great Society, Clinton’s good-ole-boy nod to residual crony capitalism, and then the 21st-century-metamorphosing, rose-colored proletarian worldview as seen through Obama’s rainbow glasses, and now the upswell of Bernie’s refurbished wealth redistribution wizardry– we’ve turned this corner into a rising tide of  flat-out Democratic Socialism.

It will be, quite likely, soon inundating the tidal basin inside the beltway as in 2017 we slog  into the mucky backwaters of full-blown Americanized Socialism, dammed up on the other side of the slough by that other guy whose oversimplified version of the nation and the world seems to want to land us in a brave new world of American National Socialism.

And who knows which way this thing will go; only time and the slowly softening sedentary, dependent American electorate can tell.

Looking back on it all, today, my 65th birthday, having lived through Nov22’63, April4’68, 9/11, yesterday’s disruptions wherever they may be, and everything in between, I find myself identifying with all the old folks whose weary outmoded facial expressions bespoke disdain,  while I traipsed errantly along life’s way. Here’s to all them ole folks who I thought were a little out of it, one brick shy of a load, peculiar, decrepit and clueless. Now, I can relate.

How I wish America could be back at real work again, like we were back in the day.

We’ve pushed through vastly extracted frontiers that yielded to massive infrastructure networks punctuated with skyscraping towers of steel and concrete. Now we’re lapsing into solid-state, navel-gazing nano-fantasies, living vicariously through celebrities in our pharma cubicles.

Maybe there’s a new frontier in there somewhere but I’m having a hard time seeing it.

But hey! let me conclude this rant with a hat-tip to the man–he happens to be a Canadian–who best eulogized the essence of that once-and-future great North American work zeitgeist, which seems to be disappearing into the dustbowl of history, because it looks like  there’s nowhere left to go.

  https://www.youtube.com/watch?v=NjoU1Qkeizs

Well, maybe there is somewhere.

https://www.youtube.com/watch?v=38bHXC8drHc

Glass half-Full

The Crossroads

June 28, 2016

The legend lives on from the blues men on down of the big choice they call the ole crossroads.

The crossroads, it is told, is where a man’s mortal soul can be sold for a life of good fortune.

Somewhere out there in the delta, in the sweltering heat of Mississippi where the cotton grew high and the ancient blues twangers sang their mournful 12-bar tunes about how hard life is and how much much harder it could be when the love of a woman is tasted but then gets lost somewhere between trouble and tragedy, and the tragedy is turned into song. . . out there where Miss’ippi mud is blacker than New’Awlins coffee, and the blues pangs clangin’ off them ole guitar strings is thicker and stronger than bad whisky. . .

that ole crossroads where they say the devil would hang around waitin’ for the blues man to come walkin’ along, desperate for some kind of simple twist of fate that would set his heartstrings and his sixstrings into a new direction, where he could catch a ride to Memphis or NewYawk and sing them blues into the big microphone and get satisfaction for his pain, get some monetary compensation for sharing his pain with the world, to the tune of . . .Crossroads

  https://www.youtube.com/watch?v=Yd60nI4sa9A

As I was a-growin’ up down there in Miss’ippi, snotty-nosed clueless white kid in the suburbs of Jackson, late 1950’s, my daddy might have driven right over them very crossroads, out there in the piney woods backwoods near where Robert Johnson and Pop Staples had cranked out their doleful blues tunes. My daddy might have clunked over them crossroads in the old Ford station wagon as he was driving the backroads doing forestry work, but if he did I never knew it.

Wasn’t ’til later that I found out about them blues, encountered them blues for myself while tasting for my own young self the sorts of pain that this life can deal out.

Years later, when I was wandering in the college scene in the late ’60s, I got a little turned around and confused and encountered the blues, found myself romanticizing some pain that was in my head and a little too caught up in the mary jane and the avoidance of the pain, but still managed somehow to gain a degree, for what its worth, in political science or English or some useless crossroads thereof.

I say useless, but not really.

It’s good to learn to read and write, and to research etc blahblahblah. Now I’m working on a fourth novel, like a thousand and one other boomer fools.

But As I was sayin’, One thing led to another and then after college I was in Florida for awhile, selling insurance and then advertising with many a night misspent in topless bars and what not, followed by a few nights in Pasco county jail and the night I got out of jail I saw a movie that had been made in the mountains of North Carolina and so I, still running from my troubles, went up there, landed in Asheville, been there ever since, not in Asheville but in the great green state of North Carolina.

 North Carolina Is My Home

After a few more false starts and dead ends I finally found, by the grace of God, salvation and the love of my life, from whose womb birth was given that brought forth our three children and this wonderful life, which is, as it turned out, so richly lived, even without all the money that I coulda shoulda woulda made had I made better choices.

Now after 35 years of building houses and other structures I suddenly found myself turning a corner toward the big 65 when I found myself not yet ready to throw in the towel  and just settle into the social security dole which supposedly I have contributed to all these years and therefore earned, so I went and got myself a job at Lowe’s home center, which is at the crossroads between two great industries of this country–retail and construction–not a bad place to be in America.

Crossroads

Now at this late stage, looking back on it all, it seems I’ve been, like many boomers, and like many so-called millennials will be by the time they get to be my age, underemployed. Hey, I’ve been underemployed all my life, but that has turned out to be no big deal.

It’s been a good ride, thanks be to God.

And the big 65, which I’ll turn here in about three weeks, is really nothing special–no magic number, so I’ll keep paying my dues–which is to say, working– for a few more years because this life is, as the Beatles said on Abbey Road. . . the bread you make is equal to the bread . . . you take.

  https://www.youtube.com/watch?v=tVYjQScC1DY

Or something like that.

And so my advice to all you millennials and gen-Xers out there who are over-educated, underpaid and underemployed is this:

Find a job, any job, and just stay busy working, learning, progressing toward your destiny. Don’t wait for .gov or Bernie or anybody else to bail you out because this world really does not work that way.

Get busy, stay busy, work every day you can, and your destiny will find you by the time you’re my age and you will find that . . .

Life is good. Make the best of it. Don’t wait for a handout and don’t blame anyone else for your troubles.

But you can sing the blues if it helps you to deal with the pain. And you may find yourselves, along the way, at a crossroads or two, but don’t sell your soul.

Glass half-Full

Oh, Give Them

June 13, 2016

Oh give them some land to work with

and some water to make stuff grow.

Give them some tools to turn the earth over

and push all that dirt around,

productively.

Teach them to Plow it and disc it and

tend it and harvest it

and ship the Fruits of it out so folks can

Eat.

And give them some Water; we need

water.

Oh yeah let ’em eat drink and be merry.

Yeah, let ’em do all that

in this our promised land.

Let ’em slice it and dice it and

multiply, divide it.

PlotTown

Let ’em add this that and the other

and subtract what they think they don’t need,

let ’em Seed and Feed.

PlotSqr

Let the wise lead,

and hope they’ve chosen wisely.

Let the simple be fulfilled,

and not by their leaders be killed.

At the Wonder of it all, let us be thrilled.

Let us carve the earth and marvel at it all–

what we’ve done and what

we’ve made.

SouthBay

But hey, please don’t let it go to our heads.

Instead, help us

Try to keep it in perspective with

some eyes on the big picture,

eyes on the prize

not obsessing with the size

of all this stuff.

Give us some Air to breath

and help us put on some wings and fly

AirLand

Oh yeah

but help them limit our negative effects; let them

temper their intrusions, boost our inclusion.

We need to regulate it and yet we need

to deregulate it help us

figure all that part out that

delicate balance

sensitive valence.

We gotta prioritize it  and sensibly control it.

Let ’em have a firm hand, a steady hand,

but, yeah, a gentle hand.

Let them take care in what they do with the earth

and the air.

Let them share;

and yes, be fair.

Yeah, let us be fair to one another,

and make sure there’s enough to go around

for everybody. I’m not making this up.

Let them prosper and proceed

with their plans

but let them pray

today.

Yea, Let us pray.

Hey God. . .

Glass half-Full

the Ole Firmer’s Almaniac

May 27, 2016

The ole firmer walked around the backside of the barn. His wearied eyes took a moment to focus on the horizon; dark clouds appeared to dominate that distant line; they’d been hanging there for quite a long while now. The immediate vicinity was clear, however, if BLS numbers are to be believed. Mixed signals here there and yon. The times they are a-changin’, thought he, and things ain’t ClasicBldgRuf
what they used to be.

The rules of the game have changed; the old computations are no longer working, with the ole firmer and his firm being blindsided by all the new manipulations, robo-washed sterile by robo-driven arbitragers as if someone behind the sprays and fluff were cleaning the clocks of commerce, wiping away the profits, constantly leveling the playing field and rendering the firmer high but not dry, now eyeless in nasdaq, then dumb in the dow, spooked by the S&P, then suddenly swept up again in a flood of liquidity, floating on Fed flotsam, pummeled by day trade dealers punting buyback fluff up and down the field. The firmer pondered all this while studying the broad side of his barn. Need to fix that roof-– the thought crossed his mind for the umpteenth time.

Then without warning, his step coincides with a pile of BLS. Oh shit, exclaimed he. Up on the rooftop, the ever-vigilant barnyard blackbirds squawked loudly, as if trumpeting their amusement at his misfortune.  Caw! Buyback! Caw! Quoth the raven: Evermore! Now and evermore! So shall your ascending P/E path be: driving under the influence of BLS, monitored by SEC, checked with OMB, hog-tied with Dodd-Frank, frothing high in P/E ratios, fearless Fannie and fawning Freddie sharpening pencils in the background, consuming FOMC reports, leaning on Fed puts, flummoxed at SEC stops, disgusted with IRS farts and bewildered by WTF surprises.

LOL . . . not.

The ole firmer’s labor participation rate was, and had been for awhile, after 89 months of zero-bound interest rates on the downward trajectory–headed south, as some folks say, although he  wasn’t comfortable with the phrase. And out there on what used to be the open prairie of Price discovery–that old crossroads of supply and demand– well, it has become well-nigh impossible to determine where, when, how and why, it seemed to the ole firmer.

This is what it felt like, he surmised, to be on Main Street in a Kmart world, then at Kmart in a Walmart world, now being disoriented in an Amazon jungle, no way out,  with the Fed ham-stringin all the supply lines so’s to simulate demand on a rising level. How this gmo steady-state staid new world of post-capital never-everland came about he’d never understand.

The old firmer would never understand. He felt like the onslaught of old-timers’ disease was gnawing away at his youthful entrepeneural sensibilities.

The obnoxious ravens on the roof calmed down, their screechy cawing now lapsing into a low zirping. Quoth the raven–Nevermore! There’s no real investment any more. No more frontier, no more exceptional expansion, no more manifest destiny, where do we go from here, caught between rocknroll and a hard face.

They say casinos are big now.

Where’s the high-flyin’ high-multiplyin’ authentic productivity? Inventories high, sales low. Slow go. What would Rockefeller do? Where’s JP Morgan when you need him? Carnegie’s steel has all been laid; Edison’s taking a nap  and Bell won’t answer the phone. No Ford nor Chevy on the horizon that I can see, thought he. Watson’s now a programmed response. Fairchild’s been implanted in a solid state econ. Gates is creaky; Jobs is gone– out there somewhere on that musky dark cloud horizon. What’s everybody doing?

Tappin’ on chinky glass, devolving in devices vices, sippin’ Singapore slings,  all sound and futility signifying no-growth, thought he, hobbling along on a programmed 2% inflation path. Old-timers like me can no longer hit the broad side of a barn with our antiquarian projections based on old-school free-market dynamics, rallies and hog bellies, bushels, widgets and gadgets, buy and sell orders ’til the bears come home, might as well lay bricks in mortars with all these start-up farters.

Out on the horizon, big dust-storm coming up. Bulls are at it again, trying to stampede their way out of the Everything’s OK corral, but Uncle Fed and Aunt Fannie shut ’em down every time.

Glass Chimera

The life song of J Alfred Bourgeois

May 11, 2016

We’ve worked hard for what we’ve got;

maybe we’re smart and maybe we’re not.

Thanks to the courage of long-dead soldiers,

we can grow and prosper and manage to get older.

We’ve read about .gov by the people, republics, and democracy;

we try to stay decent, clean, and free from hypocrisy.

And yes, we’ve heard of that Marx guy, and Lenin and whatnot.

but I’m here to say we aint no proletariat.

We don’t wanna change the world;

we like stars and stripes in the breeze unfurled.

Dinner on Sundays, work on Mondays, weekends for fun days;

this is what we like, and cultivate in predictable ways.

Jefferson said let’s do .gov by the peoples.

We say along with that came letting folks raise their steeples.

Marx, on the other hand said we need dictatorship of the proletariat,

but this home-making bourgeois boy giveth not a plug nickel for all that.

We’re happy to be plain ole boojwazee,

with a washer, dryer, car, and a home someday mortgage-free.

There are plenty out their who wanna die for the Cause;

we just like living in freedom under reasonable laws.

Floral

Glass half-Full