Okay, so what is a fella to do One minute my new “gal” is happy about the arrangements for our date, and in the next, she tells me she wants to ask her mother if it is okay to go out with me. This is tough because the mother really, really does not like me, but the dad does, and now he is mad and he is threatening to “overthrow” the whole family of 17 kids unless our date goes forward. You see, the dad gets it – if my date with his daughter does not happen, his daughter has no other prospects for a date. Now, if she does not find a long-term partner, it will mean she has to leave the house because she cannot support herself and the mother does not make enough money to support her, and the dad is broke and heavily in debt. The simple solution here is, don’t ask the mother anything – just do it!
George Papandreou stunned investors, as well as his own citizens and partners in the eurozone, by announcing late Monday that a plebiscite will be held in what he called “a supreme act of democracy and of patriotism for the people to make their own decision.”
Sometimes, the cynicism deep inside me boils because of the heat generated from stupidity. My “date” scenario above points to how stupid and irrational people can be, especially people in power who are close to losing that power. For months, Papandreou has supported making a deal with the other 16 members of the Eurozone, the ECB, the IMF, the EFSF, China, India, Brazil, and every other entity with a vested interest in a whole and healthy Eurozone. Now, he wants to ask the people if they want the deal They hate it!
Does he really believe a referendum will produce a positive vote for the recent deal struck Here is where my cynicism boils over. Of course he doesn’t. He simply said this as a political message to the Greek people and to his own political coalition, “Hey look, I am on your side.” The reality is that the parliament will more than likely not allow this to happen, but in the meantime, he has roiled the market once again. If there is an extraterrestrial species out there with the power to save us from ourselves, I ask it to intervene before we do ourselves in.
The lesson here for me, and it is one I never seem to quite get, is that a basic characteristic of most people in power is that they put their interests above the community at large. As we can see today, the market is suffering because of this arrogant and careless act. Oh, how I long for the day when a single, tiny voice did not have the power to send the market spinning.
Another lesson for me, and it is one I do get but sometimes forget in my quest to understand the fundamental realities of the market, is that the market is this scared little creature with darting eyes, stiff ears, and four feet ready to run at the slightest hint of danger, real or perceived. Oh, how I long for the day when the market had some fortitude and courage …
October sales reports this week will show steady spending by U.S. consumers, as improving finances for many shoppers helped overcome a barrage of scary headlines about the economy.
Trade in the day – Invest in your life …
