Did someone say it was tricky~?

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Over-the-last-few-years, there have not been many people `out there` that have impressed me much …

Ed Conway (ex Sky / now Times) is one that has –
Davos man is lost in a blizzard of complexity
The plutocrats and politicians who thought they ruled the world have been given a shock

Normally Davos man is preternaturally self-confident but this year there was an unfamiliar sense of befuddlement. Even during the financial crisis the politicians, financiers and businessmen here thought they had the answers. Now they walk around like zombies. As one delegate whispered to me: it’s like everyone is on LSD.

It’s no surprise they are struggling to comprehend Brexit, Trump and the rise of anti-establishment politics. After all, their underlying credo is that the world is complex, that apparently simple decisions involve myriad trade-offs and that the only way to live your life is to weigh up the data before deciding anything. Their models suggest it would be madness to vote for Brexit, or Trump, given that it will probably make the majority of voters worse off.

But for the rest of the world complexity itself has become the enemy. It is the fog that hangs over an economy that failed to deliver the payoffs people expected. Real incomes have been squeezed, jobs have become less secure, pensions are diminished, opportunities to escape the working class are scarcer than ever. And the best explanation Davos man can come up with is: it’s complicated.

Example:
FT
BIS accused of pushing staff to back ‘house view’ on low rates
‘Central bankers’ bank’ pressed researchers to deliver certain findings, says report

An independent external review has highlighted internal concern at the Basel-based institution that “there was a ‘house view’ that was justified by only rather flimsy theory or limited evidence”.

The BIS, known as the “central bankers’ bank”, has been one of the loudest voices arguing about the risk of ultra-loose monetary policies sowing the seeds of future financial crises. Its views have had added credibility because it was one of the few institutions to warn about the danger of the debt build-up ahead of the 2007 global financial crisis.

The BIS is an amazingly powerful institution. If it didn’t want to be criticized … it would not get itself criticized (by getting an independent external review).

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Guardian
Why don’t I enjoy life? You asked Google – here’s the answer

The article is actually worth reading~!

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Only human

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Bloomberg
How Deutsche Bank Made a $462 Million Loss Disappear
A dubious trade leads to a criminal trial for Europe’s most important bank.

The scion of an Italian banking family, Faissola was the head of Deutsche’s global rates unit, a division that created and sold financial instruments tied to interest rates. He’d been studying the problems of one of Deutsche’s clients, Italy’s Banca Monte dei Paschi di Siena, which, as the crisis raged, was down €367 million ($462 million at the time) on a single investment. Losing that much money was bad; having to include it in the bank’s yearend report to the public, as required by Italian law, was arguably much worse. Monte dei Paschi was the world’s oldest bank. It had been operating since 1472, not long after the invention of the printing press, when the Black Death was still a living memory. If investors were to find out the extent of its losses in the 2008 credit crisis, the consequences would be unpredictable and grave: a run on the bank, a government takeover, or worse. At the Deutsche meeting, Faissola’s team said it had come up with a miraculous solution: a new trade that would make Paschi’s loss disappear.

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The Fed `should` raise interest rates … a lot …and quickly … (but they won’t … will they~!?)

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Note that sensible people often can’t see further than they want to.

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Anarchy ahead – An interview with US-Serbian economist Branko Milanović from Gottlieb Duttweiler Institute on Vimeo.

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Nobody move

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Let’s start with this, because this-sort-of-thing is being ignored –
Power
DNV GL certifies new prototype of Siemens’ 8 MW Offshore Wind Turbine

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Brexit means …

Gardian
May’s promise on workers’ rights is hollow if she doesn’t get a deal
Ann Pettifor

Ignore all the guff in Theresa May’s Brexit speech about wanting to be friends with the European Union. Focus instead on the explicit and subliminal threats: if EU partners do not play ball – and in particular if the EU denies “passports” to the City of London – Britain will abandon the European economic or “social model”. Instead, argued the prime minister, backing up her chancellor, Britain would adopt more fully the Anglo-American model of self-regulating markets in everything but migration. We would become a tax haven more Luxembourgian than the Luxembourgeois, more Irish than the Irish.

In other words, we will use beggar-thy-neighbour tactics to lower taxes and lift regulation over trade and capital flows. Philip Hammond made this threat explicit two days ago. Britain, he implied, was ready to retaliate with a “change in our economic model”. Beware. The prime minister’s promise that British workers’ rights would be protected sounds hollow in this context. Loss of access to the single market will lead, for many, to the loss of an important right: the right to a job.

As for new international “free market” investment agreements, we know from experience that these on the whole favour investors – “the citizens of nowhere” that May identified in her 2016 party conference speech. Investor-friendly international agreements are investor-friendly. They do not address labour or environmental issues. As the International Labour Organisation argues, “They aim only to produce a liberal atmosphere conducive to the flows of investment. This narrow mandate leaves social issues aside … social clauses are mostly only declaratory.” Instead such agreements have deepened globalisation and led, across the world, to increasingly precarious work, the loss of labour rights and rising inequality.

Or …

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National Review
The Clinton Global Initiative’s Ignominious End

The Clinton Foundation filed papers this week warning that 22 staffers will be laid off on April 15, when the Clinton Global Initiative is formally shut down. 01:15

Note* Bernie is still shouting about stuff~!!

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Surprised the FT printed this –

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This is comforting for people who think they-know-best … but is also bollocks –

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These are the richest, because fucking people bid up the stock-price of their companies –

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Rufus got the point yesterday –

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Manic Tuesday

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Tricky one this …

Yesterday, I somehow slipped off my internet groove and found-myself in `shiteland`. I don’t know if it was the internet version of a newspaper, or … what~?
It was a page full of `click bait` … and … `I clicked`.

This led me to the friendly little Mystic homily – `If you feed shit in … you will eventually become `shit“.

Now, here is where it gets tricky …

Somebody like me (not shit) cannot communicate well with most everyone else in the Western world (shit).

It is really quite a trade-off.

Unless I pretended (which wouldn’t last long) I would probably soon be seen by them to be `a pompous arse` …

This is why `superior` people glob together to become, things like … `the Liberal elite` …

… and, as we noticed, the shits are presently giving the Liberal elite and damned-good whacking at the moment~!

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So, the Liberal elite, in the guise of The Guardian UK `reports` –
World’s eight richest people have same wealth as poorest 50%
A new report by Oxfam warns of the growing and dangerous concentration of wealth

More `tricky`.

I think it essential to note here that I would not want anything to do with `the Liberal elite`. They are much-more full-of-shit than the everyday-run-of-the-mill shits. They deserve the kicking that they are taking from the shits.

Note* You are perhaps one of the one of `the poorest` … if you have a mortgage, because it is calculated on net wealth (meaning that much of the Western Liberal elite are in the stat on `poorest` side).

The whole thing is, at best, what may be called a `talking point` … but, it is highly unlikely that either the `shits` or `the arses` are going to talk much sense about it (even less, do anything about it).

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Damn~!!

I’ve depressed myself … and don’t want to do anymore.

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Go on then … bonus point for naming the name of the owner of the bottom –

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