Author: authoress

Did Elon Musk Lose Your Favor – BONUS POST

[Please note: The word “Featured” on the left side above was NOT inserted by this blogger, but apparently was inserted by WordPress, and it cannot be removed. NO post in this blog is sponsored.]

As is well known, the messaging-clutter in the United States has reached a screaming crescendo. Here’s a question in connection with the tenor of the times.

DID ELON MUSK LOSE YOUR FAVOR

sung to the tune of “Does Your Chewing Gum Lose Its Flavor” [1961 Hits Archive] with apologies to the estate of Lonnie Donegan.

Oh [bleep], oh [bleep], oh you.
Whatever shall we do?
And YET one more bleep.
The question is so deep.
At stake is big-time dough.
Politicos want to know,
the pollsters’ Twitter question:
Is it yes or is it no?

Did E-LON Musk lose your favor by poor judgement overnight?
If the critics say just quit it,
do you keep your account in spite?
Do you seek out all the radicals?
Do you follow the Left or Right?
Did E-LON Musk lose your favor by poor judgement overnight?

Here he COMES with excessive pride.
His atTORNeys by his side.
THOSE lies and smears
everywhere are stoking fears
that our country could be wrecked.
But free speech is guaranteed,
and as Musk has trouble with control, he wants to take the LEAD.

Did E-LON Musk lose your favor by poor judgement overnight?
If the critics say just quit it,
do you keep your account in spite?
Do you seek out all the radicals?
Do you follow the Left or Right?
Did E-LON Musk lose your favor by poor judgement overnight?

Now the nation’s split in two.
Democracy will come through,
at every level, yeah, every single level.
Each side keeps the other in check.
We do it with Big Tech.
The most influential voices keep the candidates neck and neck.

If a price tag’s made of a price,
what’s a hashtag made of? [Boom, boom]

Did E-LON Musk lose your favor by poor judgement overnight?
If the critics say just quit it,
do you keep your account in spite?
Do you seek out all the radicals?
Do you follow the Left or Right?
Did E-LON Musk lose your favor by poor judgement overnight?

By poor judgement overnight?

You’re the best, and Twitter loves you, and it wants to make things right.
It’s going to be the most trendy, uncensored social media site.

By poor judgement overnight?

A spade is a spade and
a fact is a fact.
He’d sing another chorus but
he’s afraid of getting hacked.

By poor judgement overnight? Yeah!

The Vortex

[Please note: The word “Featured” on the left side above was NOT inserted by this blogger, but apparently was inserted by WordPress, and it cannot be removed. NO post in this blog is sponsored.]

The Book of the Week is “The Vortex, A True Story of History’s Deadliest Storm, an Unspeakable War, and Liberation” by Scott Carney and Jason Miklian, published in 2022. This multi-faceted story involved a massive number of deaths due to (cue the dramatic music): the Great Bhola cyclone (what would be called a hurricane in the Western Hemisphere), a cholera epidemic, dictatorial political shenanigans, atrocities and genocide; plus heroic international aid workers who were horribly hindered in their disaster-relief efforts. Sorry, no romantic subplot– this wasn’t a movie; all of this actually happened within the space of about three years. But at the end, there was the founding of a new nation, called Bangladesh.

Even decades after geographic separation of various religious and ethnic groups into: A) India, and B) a sovereignty of two discrete land masses (East and West) that comprised newly formed Pakistan in 1947– hostility still reigned. In Pakistan, anger and resentment simmered between the Muslim Punjabis in West Pakistan who spoke Urdu, and the Hindu Bengalis in East Pakistan (which became Bangladesh), who spoke their own language.

In the mid-1960’s, general Ayub (“Yahya”) Khan, who became Pakistan’s leader in 1969 [For more information, see this blog’s post, “The Rape of Bangla Desh”], ordered Pakistan’s military to attack India. The United States imposed economic sanctions on both Pakistan and India for childishly fighting. Pakistan allied with China. India allied with the then-USSR.

In August 1969, American president Richard Nixon tapped Yahya to be the contact to introduce him to China’s leader Mao Tse Tung. In exchange, Yahya wanted to purchase arms for Pakistan. Nixon violated the then-arms embargo against Pakistan to sell it armored personnel carriers and B-57 bombers.

In 1970, there occurred a quantum leap in hurricane-forecasting technology what with a new satellite called ITOS 1 that gathered real-time data on the Northern Hemisphere for the National Hurricane Center. Nevertheless, because they had no clue a storm was coming (the new forecasting technology had yet to reach Central Asia), almost all local residents drowned when the Great Bhola cyclone hit the delta near Manpura island in November 1970. A month later, fifty million Pakistanis were voting for the first time in their lives.

A few months later, American weapons were killing the Bengali people. Nixon was supporting Yahya. The latter’s military leader whipped up a Nazi-level frenzy of hatred against the Hindus, massacring them with .50 caliber machine guns and destroying– via American M-24 Chaffee tanks, jeeps and F-86 jets– key communication, political, educational and law enforcement structures in the city of Dacca in East Pakistan.

Unsurprisingly, all of the above was accompanied by a boatload of radio propaganda put out by Yahya’s side. But later, radio broadcasts helped the Bengalis. Anyway, Nixon aided and abetted Yahya in various additional ways to achieve his own political aims. Refugees fled to India, and where, counterintuitively, military camps trained Bengalis (technically Pakistanis) to resist the Pakistan Army. Indians had always been sworn enemies of Pakistanis. Still, it was in India’s best interest to see the Bengalis win the war and break up Pakistan.

There have occurred countless historical tapestries such as the aforementioned in which a complex bunch of circumstances resulted in millions of deaths; one thing led to another. The authors argued that the especially severe cyclone played a major role in giving scheming politicians an excuse to abuse their power even more. They asserted that more severe storms are occurring due to the earth’s changing atmosphere, and such natural disasters in turn trigger a series of events that increase global conflicts.

BUT, arguably, global conflicts have waxed and waned throughout history, regardless of natural disasters. There are four major causes of global conflicts (that are present in different combinations):

  • fighting over limited (and /or exploited) resources;
  • tribal hatreds;
  • religious hatreds; and
  • territorial disputes.

Present-day events (!) have shown that humanity is making slow, slow, slow progress towards a total net amount of good versus evil on earth– even with all the advances in early-warning systems for disasters and the striving for more widespread humanitarian activities. Cases in point: once-Communist countries have changed for the better in certain ways in the last thirty years, and there is less colonialism in the world than there used to be.

Unfortunately, advances in technology and charitable aid still trigger profiteering and political exploitation with their attendant propaganda. Alpha males with hubris syndrome with their greed and power-hunger still rule most of the world. Bottom line: human nature doesn’t change, but globally, human beings overall, are evolving.

Anyway, read the book to learn many more story-details, involving: how Nixon (and his evil sidekick Kissinger) came extremely close to instigating a nuclear war against the USSR in the Bay of Bengal; the fates of various political and military leaders; and the hapless common people of Pakistan, and the aid workers who passionately tried to help them.

The Education of A Speculator

[Please note: The word “Featured” on the left side above was NOT inserted by this blogger, but apparently was inserted by WordPress, and it cannot be removed. NO post in this blog is sponsored.]

The Book of the Week is “The Education of A Speculator” by Victor Niederhoffer, published in 1997.

Born in 1943 in Brooklyn in New York City, the author sorted “market advisers and investment newsletter writers” into eight different categories, providing a brief description of their behaviors or personality traits. He classified himself as “The Other World Person” because he ignored the overpaid noisemakers and distractions of conventional media outlets that purported to convey information on which securities to buy, sell, or avoid.

The author’s two data sources for his commodities, currency trading and investing ideas consisted of the National Enquirer and his research results from testing all kinds of variables in statistics-calculations of past securities-market data using software. No other sources.

The mid-1990’s saw great advances in statistics software modeling that could process scads and scads of data; hence, market players could erroneously use past performance of investment vehicles faster than ever before for predictive purposes to help themselves and others lose their money faster than ever before. And those advances might have played a part in the scandals and financial crashes that have occurred with alarmingly increasing frequency in the last thirty years. Big Tech’s and Big Media’s incestuous oligopolies (fraught with political donations) just keep getting more hegemonic, so that power and money keep feeding on themselves ad infinitum. Globalization is yet another wrench in the works.

At the book’s writing, global trade had been maturing for decades, but capitalism was still in its infancy in many territories of the world; particularly in ones that were becoming politically democratic again, or for the first time in their histories. Many European countries were in the process of adopting cooperation rather than competition in their financial and economic dealings. A large proportion of them even voted to use one currency among them. The United States kept to itself, but more and more people around the world were starting to trade or invest in foreign securities, currencies and governmental financial entities, so chain reactions occurred more and more.

The Federal Reserve (aka Fed) has always been a major influence on America’s financial markets. The author contended that the Fed was just as clueless as the rest of the country about what effects its making of rate-adjustments would have on the nation’s economy. It is currently just as clueless. But its announcements are made with such confidence and arrogance, that a large number of their listeners are brainwashed into believing they are receiving valuable information.

The incumbents– known names pre-Internet–became the most influential voices in the financial sphere. The wiliest ones use propaganda techniques to paper over their wrong predictions. They never apologize for the losses stemming from their pronouncements. The walls of the author’s business office were lined with portraits of ones who had disastrous losses.

To be fair, the author himself told various anecdotes of his own failures. In 1992, he bought IBM stock for his own kids. That was an embarrassing mistake. He learned to cut his losses at a certain level of the total money he reinvested. And, he didn’t let his greed get out of control when he was winning.

The author was a champion squash player. One similarity between squash and speculating is externalities–opponents’ actions determine players’ actions in the game. So, for instance, in ten-pin bowling, there are no externalities. In squash, there are. In one college finals-match, the author moved his body in a way that tricked his opponent into thinking the ball was going to go in a certain direction, but it went the opposite way. Traders and investors play similar tricks in their communications in the financial markets. Conditions change rapidly so even the market propagandists’ winning streaks don’t last long.

The reason is:

First, independent thinkers make observations or find obscure data that works in making them money. Then software detects their trading tricks. So word gets around, and everyone else jumps on the bandwagon so that the advantage is lost.

Human beings want so badly— to believe they can predict the future, and love to fantasize about getting rich quick– that they tend to look for patterns and order where none exist. The author did provide one vast generalization that might be valuable, though. His statistical analysis between the years 1870 and 1995 inclusive showed that years ending in the digit 5 were good years, and those ending in 7 were bad, for the American stock markets. He didn’t speculate as to why.

However, politics is one major mover of markets, and the collective mood of the United States specifically, might be a bit more upbeat in years when political uncertainty is at a minimum. Presidents and other politicians begin or continue their terms during years ending in 5. The public might be unclear about their future policy directions, or weary of them by the years that end in 7.

Anyway, read the book to learn a boatload more about the author’s philosophy, his trials, tribulations and triumphs in the markets, his research results and comparisons between financial markets and: ecology, games and sports.

The Six Days of Yad-Mordechai – BONUS POST

The Bonus Book of the Week is “The Six Days of Yad-Mordechai” by M. Larkin, originally published in 1965.

Passionate, mostly Polish Holocaust survivors who were able to make their way to the Gaza Strip in Palestine in late 1943 worked tirelessly to establish a new kibbutz called Yad-Mordechai. The socialistic ideal of their farm collective was this: “Since economic dependence upon the father was what gave him power, such dependence was abolished in their society.”

Still, the community fell short of total gender equality, as the males did the hard manual labor on the infrastructure; an all-male militia except for one female fought against attacking Egyptians, and females did all the food preparation and childcare.

In November 1947, a majority of United Nations (UN) members voted in favor of partitioning Palestine between an Arab state and a Jewish state. The situation was to become official in mid-May 1948, when the British were to withdraw its officials from Palestine. Arab countries broadcast propaganda that gave their fellow tribesmen the impression they were only temporarily evacuating their homes by that same deadline, and would eventually conquer the Jews and return to take over the entire strip of land that was slightly larger than the state of New Jersey.

The Yad Mordechai kibbutz just happened to be located in the Arab state. The Arabs refused to recognize the UN vote, and decided to fight the Jews for the entire territory. The villains of WWII– ex-Nazis and Italian Fascists, plus Lebanese, Egyptians, Syrians and Trans-Jordanians fought on behalf of the Arabs. The Jews had poorly equipped militias and intelligence cells called the Hagana, Palmach, Irgun and the Stern group.

Nevertheless, as of this writing, Wikipedia says this kibbutz still exists today, and its population is 737. It might be recalled that pure socialism thrived for a short time when the State of Israel was born. That was an extremely special exception, for the following major reasons; the kibbutzniks:

  • were forced to work together in order to survive in the desert, geographically surrounded by enemies;
  • were like-minded– oppressed for their religion– seeking a safe place in the world;
  • had a common goal bigger than themselves– building a country for themselves from the ground up– creating the political, social and cultural systems and infrastructure when everything was simple and their population was low;
  • had in common the shared, traumatic experience of WWII and/or the Holocaust; and
  • had substantial financial and military help from the United States.

Lo and behold, Yad Mordechai has since turned to capitalism to survive, selling certain brands of foods. However, the dangers of capitalism become apparent when financial scandals and crashes plague the nation due to EXCESSIVE DEREGULATION.

As is well known, there was consolidation through the 1980’s and 1990’s of the corporate auditing industry, and “Big Six” became the “Big Four” eventually, prompting businesses across the country to become even more incestuous (corrupt) in their relationships with their auditors.

In 1994, the big-name auditor Ernst & Young fired their in-house legal department and hired outside legal counsel. They must have been hiring employees from the competition, who brought a certain corporate culture to their legal department. In 2002, the Enron / Arthur Andersen scandal broke.

Certain wise folks can see a scandal coming. Like Ernst & Young. They don’t know exactly when it will hit the fan, but they know they don’t want to be there when it happens. James Baker of the Reagan administration was one of those sharp individuals. He switched positions with Donald Regan so that he would be far away when the Iran-Contra scandal became publicized.

In 2019, BB&T, a government bond broker, merged with Sun Trust Banks. Excessive deregulation can do wonders for the bottom lines (when they go hog-wild) of any profit-making organizations in the short term. BUT– it seems as though as the decades pass, financial-industry-players gain more and more experience in preventing lawsuits brought against them from their customers and clients by:

having the latter sign legal documents they never had to sign before, and placing disclaimers galore on all of their communications. The latest disturbing trend is for (previously low-risk) government-bond(!) brokers to do this.

Anyway, read the book to learn of the spirited beginnings, independence-warfare death toll and traumas suffered by the Yad Mordechai kibbutzniks, and their eventual fate. [And stay tuned for more traumas in the government bond market.]