Thursday, 5 December 2013

The one guarantee, you have been heard

Continuing from the earlier entry, I think one point, the actual moral of the story, requires its own to stand out. The lone voice which sees the emperor's naked is either ignored (99% of the time) or not, but they are always noted.

This means, if nothing else, if you know something others do not, they will slate you, call you a murderer or worse (yes, I've heard worse), and may even avoid you entirely as a result, but if you know you are right at least you have told them. This means, like the credit crash and other little but definitely predicted disasters destined to happen, the handful who spoke out could not divert the entirely voluntary storm, but they would teach the sheep and idiots a lesson.

They are so full of hubris in either not believing there is nothing wrong, or there is something wrong when there is not, nothing besides the actual event happening can ever change their minds. If it was possible for bankers to lend people 10X or more of their income, and do it at a 40X plus leverage rate (as opposed to what used to be a tightly regulated 3 and 7), on top of excessive offers for personal debt which was then sold off in anonymous packages of structured AAA rated (faked) financial instruments, normally anyone with a three digit IQ would have worked out if you simply break the rules of a society the system will unravel.

About three people did (Vince Cable, a sacked broker and me, to my knowledge), and I as a result now earn around a third as much as I would have otherwise, as do all my family including the ones who have since died. I have lost many thousands of pounds directly due to the utter stupidity of the public standing back and accepting an economy normally associated with a pisshole like Zimbabwe or Gaza, the same acceptance of sky high energy and travel bills to protect them from global warming after they're dead.

This mentality is lethal, as it allowed concentration camps, Enron, Bernie Madoff, the South Sea Bubble, Church Indulgences, years of Libor fixing, and those are just the ones which got busted we now know about. It ignores every warning and assumes the crooks are the good guys and vice versa. I can't change that, all we can do is tell them, make a note to record it, and crow when they find we got it right.

The fact is, much of the time, the consensus usually means they are wrong, just like today's record low interest rates skimming billions from the economy as long as they stay in place. And no one does a thing about it.

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