Thursday, January 27, 2011

Chimera, again

Moral: Wherein we stop to reflect, now that the chimera's sirens are calling again to the hapless to put their money on a shaky foundation since Big Ben continues with his sacking of the savers and with his infatuation with collecting toxic assets (see Remarks, 02/01/2011).

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As such a move may imply more effort than the mere look back, to wit 7oops7 and truth engineering, which could be claimed to be a space-filler, though we did earlier succumb to the temptation.

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There have been some recent developments that need to be considered. So, we'll be getting to those. For now, here's a list.
  • From a technical sense (read Quants), the SOS approach looks to overcome a whole lot of problems involved with complexity which exacerbate some basic issues. Yet, using an intuitive approach (which is suspect in certain circles), one has to think that projections squish some part of reality (we'll get to how, and why, the best-and-brightests' overlay on the rest of the populace grates) while lifts trample (due to the assumptions that go into such -- oh, by the way, the chimera is an example of a 'lift').
  • The FCIC. Oh, much to say about this (see 2008 (4 posts) bullet). Wait, did the committee finger the contributions of King Alan and Big Ben? Too, mania can be used; it was fostered by giddy belief in the gilded wizards of the modern age.
  • China will continue to play a large role. The combined count of the impoverished there, and in India, is double the population of the US. Yet, we envy them. Of course, is our house clean (next bullet)?
  • In November, the voters went red, again. We are now under the regimes thereby elected. Are any of us angels? On the other hand, does anyone even think about beyond reproach, anymore? This story tells many tales. It is 'nuf just to point to it.
  • ...
  • See Remarks: Also, the issue of value/worth (and money) is still open (Davidowitz' take). Anyone for culprits? Anything done for the systemic issues?
  • ...
Remarks:

10/05/2012 -- Yes, yes, chimera it is.

08/04/2012 -- I can hear it: with the DOW over 13K, what are you talking about using 'chimera'? Well, look at the dire warnings, for one. Are you looking at FB as a poster boy? We'll get technical and explain the problem. Do we have a solution, at this time? Yes, essentially.

01/27/2012 -- Ben will continue to sack the savers; he must love the ca-pital-sino.


04/01/2011 -- The last man wants the old days back.

03/23/2011 -- The hopes spring, again, forgetting, of course, near-zero, all because of M&M. See the real story. But, Big Ben ought to know better.

03/16/2011 -- On the rise of the professional politician (will there ever be the citizen polico? that is, those who do not salivate when a buck is passed beneath the nose) toward robber barony. The M & Ms are apropos. As well, need to bring in Schervish's viewpoint.

02/01/2011 -- Davidowitz says that the Fed is driving people toward the riskier side. We know where that leads, namely bigger fill for the pockets of those who run the game. Granted, these types can then spend, yet with the majority of the populace enslaved by chains of debt (including that yoke which is on the whole country), does that a sustainable economy make?

Modified: 10/05/2012

Monday, January 17, 2011

The ideological errors of capitalism, VII -- wealth

Moral: Wherein we consider that how 'wealth' is handled can be problematic, yet it will be, by necessity, a very important factor in any attempt to frame a better basis for capitalism.

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What exactly is this 'wealth' that is referenced? Remember the train that was mentioned earlier? Some think that this mythical train carries the wealth. However, near-zero says not.

There may have been a lifting of the markets, in response to the efforts of Big Ben and others to shore up the game. As we all know, the Street was given life support by Main Street and the people (such as, the savers who were sacked, severely).

Now, the merry-go-round is brightly shining again, attracting more money. You know, that fills the pockets of those running the game. Ever heard of the advantage of the house? Somehow, the system, and the thinking, behind the chimera took on the flavor associated with Las Vegas without any peep from the populace (or those who are to be watching out for the populace).

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Everywhere one looks in the US, debt is stacked up. Except, for those who were able to grab assets. Some of these were just smart and live within their means. Others, the few, gobbled while things were good. The many? It is seriously bad, folks. However, the situation is not without some type of remedy, if proper choices are made. For one, the daily dancing on the merry-go-round needs some serious attention; that is, that which the moneyed do not want is what needs to be looked at closely. How?

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So, again, what is wealth? It might be time to tackle that subject, but, first, let's review the litany of ideological problems in reverse order of the original posting.
  • Classism - There is nothing more autocratic than a large corporation's thinking about its employees (ah? detect some notion of corporate as a being? were we not told that by the Supreme Court?). You see, employees are mere labor. It's the fat cat, with the capital, who is the sum of all things in this paradigm. Of course, those who tout progressive ideas say that everyone (or, anyone), then, ought to own capital. The problem? The takeaway nature of the underlying game is heavily weighted to those who skim off the top.
  • Ill cultured-ness - So, not only are workers exploited, many times it is in unconscionable ways. For instance, what cry was raised about conditions that led to I-Phone suicides (mentioned briefly in the New Yorker)? Wait, come to think of it, except for the show about the under-cover boss, who even cares about the daily toils of the multitudes who create the life of ease?
  • An abundance of absconders - As mentioned above, plenty do attempt to rise out of their straits yet fail. You see, pilfering (in terms of organized 'ponzi'ed' schemes) abounds. The real grief is that the malfeasance is couched in terms that dishonor mathematics (there are many to blame for this -- essentially, those who are without innumeracy, that is, they of the best and brightest (supposedly) have superpositioned idiocy (this will be explained fully, in time) on the rest of us (let's say, a numerant can understand 'being' which innumerant, okay?) while those who ought to know sat on their hands).
  • Prevalence of shell games - Street corner tactics, many of which are illegal (would have the keystone kops after there perpetrators), have been allowed under the guise of business as usual (as if that whole set of darwinian notions was strong -- who is there who is not blinded by the sirens of wealth, money, etc.?).
  • Unconscionable exploitation of Adam Smith - Adam knew the failings of 'free markets' quite well. He knew a lot more than that. Ought we to think that those who argue the 'invisible hand' are in mind to simulate that via computation (controlled by themselves - with appropriate skimmings, to boot) and funny money (gab standard and all)?
  • Ca-pital-sino - How is it that the guise of business, as usual, has turned to gaming as if this were the epitome of the long trek to civilization for which our ancestors labored so hard?
  • Gravy train - The spoils go to those who take risks, we were told, within a framework that allowed essentially silly ideas to be cast forward as brilliant. Yes, bet the dinner, as mommy/daddy will clean up the mess. Did we learn anything from our recent exposure to downturns (bubbles popping)? Well, some things came to fore: privatization of gain/socialization of loss, ...
  • ...
  • A new game -- this was written on Sept 22, 2007. What was the smell then? Were there early warnings of the downturn? The focus was on using a real project, like a new airplane, to talk about issues of economic systems (those things manipulated by the cream skimmers, okay?) that turn out to be so deleterious to the common man. That type of query, naturally, leads to issues like the cyber-physical. You see, money is more cyber than physical (those bills and coins are mere artifacts, worthless without the underlying system).
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Albeit, some of the problem is that computation covers a whole lot of mischief. Made-off is our best example of this (how many years did his silly, in retrospect, bluffing win out (we need to get into the psychology of that whole bit of idiocy)?).

Guess what? Computation is the core; unfortunately, that core is more of a utility than has been realized. Right now, it's a pot of gold into which are thrust several hands (yes, goldman, your ilk) daily extracting out mountains of cream for the elite.
  • Aside: From 07/31/2009 -- Wait! More exposures: "computers, some housed right next to the machines that drive marketplaces like the New York Stock Exchange, enable high-frequency traders to transmit millions of orders at lightning speed and, their detractors contend, reap billions at everyone else's expense." To anyone who isn't at Goldman Sachs or the like, does that appeal to you as the way that we ought to be handling our beans?
The necessary functions will require the stamina of one who has taken a vow of poverty (let's, for now, use simple living) and who is not seduced by the sirens related to high living (as in all of these financial centers in the world full of those who are not to run the core system).

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Market holidays, such as today, afford us an opportunity to look at the game for what it is.

Let's put it this way. If we built houses as we allow the market to be built (inflated by air), we would have to re-build quite often. We can attempt to put a timeframe on how long a house stood by looking at the crashes of the past 15 years.

Granted exogenous shocks were a large factor. Yet, it's like the child's story of the wolves blowing down the house.

Since we do know how to engineer, we can apply this knowledge to the economy. However, folks, it would not be 'financial engineering' (not in its current manifestation - sorry, professors, your best-and-brightest are one big problem to the rest of the populace).

Remarks:

09/21/2011 -- On Wealth and the CEO MVP.

05/25/2011 -- Lemons problem, dark pools, ... Oh, so much to look at!

04/20/2011 -- Simple living (see Remarks 04/15/2011 - game theory), as opposed to greediness.

04/03/2011 -- Need to look at some background. Too, tranche and trash.

03/22/2011 -- It's spring, and the garble uses gambling metaphors.

03/16/2011 -- On the rise of the professional politician (will there ever be the citizen polico? that is, those who do not salivate when a buck is passed beneath the nose) toward robber barony. The M & Ms are apropos. As well, need to bring in Schervish's viewpoint.

03/11/2011 -- Wired asks, ought we care?

02/24/2011 -- People matter.

01/27/2011 -- The chimera shines.

Modified: 09/21/2011

Monday, January 3, 2011

Roadmap for Growth

Moral: Wherein we stop to look at what's being offered by the Business Roundtable in order to better continue discussion of the ideological basis for capitalism and to try to introduce what is necessary - a Magna Carta equivalent to dampen these people's enthusiasm for exploitation.

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In particular, a good place to start is the recent Roadmap for Growth (see commentary by The Economist). They're actually talking 'better-paying jobs for American workers' as if that is of prime concern to them.

Well, let's see, they do talk ethics (under the guise of Public Trust). A search on the site brought up 100 hits. I'll have to poke around and see if this effort was mostly a 'paper tiger' over the past 3 decades. A whole lot of negative business stuff has passed under the bridges during the their time. I don't recall any hand slaps by these guys/gals (mutual admiration society?) on those who are malfeasant.

Too, these are those who run things (the set that takes oodles of pay as given). But, they do deserve an unbiased reading of their material. Also, they exemplify the top-down view. As we all know, truth is middle-out with a heavy taste of the bottom.

Anyway, it'll be fun to look further at all of this stuff.

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The Economist says that these are the big boys of the conservative bent. There is the Chamber of Commerce, too, who collects those of the more normal size. We need to consider their take, to boot.

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Needless to say, the point here is that there are those of sufficient talent, with appropriate aptitudes (and probably better attitude) about simple living, and with deep concerns for business ethics and for the well-being of the planet (and its inhabitants), and so forth who can do as well as (perhaps, even better than) this favored crowd in all matters except for a few. For instance, preening, being catered to, etc. seems to be a necessity for the position. Why (rhetorically presented, of course, as we'll discuss this more fully as things unfold)?

Remarks:

05/17/2011 -- Golden sacks (leftmost mug), by Rolling Stone and Daily Ticker.

01/06/2011 -- It is interesting that Jim M, whose company makes oodles off of the taxpayers' money, would be in the line of those with the gall to tell us, via our representatives, what they think is what we ought to do. Jim M? What were you thinking?

01/03/2011 -- Two years ago, a collective mug shot like on this page was labelled rogue table. What is different now? Oh yes, these are the New Kings. Their reign? Those virtual entities that have no boundaries in the geographic, or traditional, sense. That is why we need the Magna Carta. Their quandary? Within any political bounded state, they are princes (if that) and feel that they need to protect their turfs, and remuneration. What are the rest of us? Mere resources to be exploited. Ah, they ought to consider that many have more brains in one head (sorry, Grigori, only using you as an example and, perhaps, a metaphor that we need to understand) than they have in their collective lot.

01/03/2011 -- When one looks at the tone of the plan given to the government, and the demands, it's like these people forget that their idiocy created the recent downturn (not just the finance people, folks, as many pushed for book cooking, financial wizardry, etc.). Talk lack of humility. Somehow, business is equated with crap; is that what you American companies want? Why don't you lead the world in ethical business practices, being green, etc.?

Modified: 05/17/2011

Saturday, January 1, 2011

2nd December

Moral: Wherein we mimic the look at a couple of 4ths: 'Oops, etc. and truth.

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We've been at it enough to have two last posts for a year. It might be interesting to look at these with some commentary, starting with the one for 2009.
  • 2009 (11 posts) -- Year-end recap -- Yes, those who do not suffer innumeracy ran amock, as if this was their right due to their higher-order insights. Yet, many with innumeracy have better ethical, and practical, sense. How is this, that mathematics (that old queen) has been so mis-abused? Well, it is our task, in part, to talk this issue. The trouble? Those who are so smart have no conception of undecidability (oh, they have learned work-arounds) or of entanglement (ah, this I do not understand as they cry over humankind's non-particle-ness - but, then, Godel gives them inconsistency as an out).
  • 2010 (4 posts) -- What is truth? -- Somehow, the monied players have misused notions from biology (to wit, evolutionary theory) as their chief argument for being a**es. Then, Adam has been abused, to boot. Now, do we hear that they do not want any ethical overlays or concerns? Ah, that would un-fun the games, would it not? Yet, we have the right to want to know if someone is pushing us toward perdition-laden paths. Actually, the daily clamor of business covers a whole bunch of mischief. How did this come to be?
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Dismal? Oh, let us count the ways.

Remarks:

12/29/2012 -- Summary - 2012.

02/26/2011 -- Added links to each month's archive.

02/08/2011 -- A topic of a year ago: there was a report today concerning a study on the SUA problem that has been going on quietly. More news will be coming later when the report is technically analyzed.

01/27/2011 -- Added post counts by month by year. Also, the chimera shines. How did I miss Grandsons of Samuelson?

01/24/2011 -- Here are a couple of related items.
01/02/2011 -- One basic problem is that systems are in place, and in development, whose consequences are not scrutinized beyond their ability to fill certain pockets. Oh, let the boys play. Is that the attitude? While, all around, our butts, and those of our progeny for generations, are sliding further into the mud. Way to go, smart guys and gals.

Modified: 12/29/2012