January 23, 2015
Brendan Brown in the book Euro Crash …about his theme “Q.E. infinity” links Bernanke, former chairman of the federal reserve and Draghi former “ …vice chairman and managing director of Goldman Sachs International and a member of the firm-wide management committee (2002–2005)” as patrons of “Q.E. infinity”. One might therefore imagine that Draghi’s announcement that Europe will belatedly begin a Q.E. program as the instalment that places the final global investors’ rock in place to keep money in the hands of the qualified “money changers”, regardless of what Draghi’s former company, Goldman Sachs, might say.
…“I am not sure this is a game changer,” Gary D. Cohn, the president of Goldman Sachs, said at the World Economic Forum in Davos, Switzerland. “Monetary policy in itself is one ingredient, not the ultimate solution.”
January 22,2015 Well they were saying a Q.E. in Europe could take up where the Q.E. in America stopped. I guess they were right as Europe will be purchasing 50 billion Euros a month till 2016 or when inflation appears, probably never: Deflation ( CPI-wise if you believe in the CPI things are cheap; if you count what you spend they are increasingly expensive) has been just around the corner since Mr. Obama became president in 2008.
November 7, 2014 Today was one more eventful day in the investment world; after several days of bond yields tip toeing higher after falling back to QE levels just about when the U.S. Federal reserve announced an end to its QE, buying its own U.S. government bonds; then rumours of a possible Europe QE program with Japan leading the way and the Dow Jones again reaching toward record heights, just after Warren Buffet lost 2 billion bucks on Coke and IBM. And a few days ago the Arabian OPEC powerhouse dropped its price to the U.S.A..Then today November 7 maybe 2.5 weeks since what was written below on October 21, returns on U.S. bonds suddenly fell back from their tepid climb; and gradually dwindling gold prices just as startlingly came back to life because someone heard Ms. Yellen say that Europe should do what’s necessary to keep its economy alive, maybe like Japan is doing devaluing its Yen to compete better with Europe and Canada maybe, trying to keep wages and prices lower to sell stuff to its biggest trading partner the U.S.A , and then of course there’s China with whom we all compete. October 21, 2014; am. Today, October 21, 2014, after dwelling on Brendan Brown’s notion, “Q.E infinity”, in his 2014 book EURO CRASH How Asset Price Inflation Destroys the Wealth of Nations I might assume that Mr. Bernanke who according to Brown appears to have contrived “Q.E. infinity” to keep rates low was keeping his “cards close to his chest”on June 19, 2013 knowing that rates could not be permanently affected by recent investor actions in the bond market because he had stifled the so called natural impulses of the market and its “invisible hand” with his “Q.E infinity”. And with North American interest rates having again fallen precipitously with stock markets in America and Europe nervously gyrating, and some business commentators rumouring the unexpected apprehensiveness of some Federal Reserve governors about ending the Reserve’s bond purchases this October, there are whisperings of a Q.E. # 4. And at about 2:00 pm. with stock markets reversing last weeks plunge with vigorous upward rises, one U.S. commentator said that present stock improvements could be attributed to rumours that Europe may be about to begin its own version of Q. E. (Quantitative Easing/money manufacturing) program.
January 15, 2015
Today I was reminded of how easy it is to misunderstand a television presentation: in this case a televised press conference about the recently released TDSB Review (Toronto District School Board Review) . Ontario’s minister of education and the person who did the Review said that there was a “culture of fear” among the staff at the TDSB office so pervasive that some senior staff when interviewed for the Review broke into tears. Some fearful of losing their job would not talk to the reviewer. This “culture of fear” as it was dubbed on the CP24 report that I watched seemed a result of staff so fearful of being monitored that some stopped using board communication facilities.
I located an online copy of this “Review of the Toronto District School Board Submitted to the Honourable Liz Sandals, Minister of Education January 15, 2015” and to my chagrin I learned that the Review suggested that the authority exercised by various ward trustees was likely contributing to this “culture” whereas what I erroneously picked up from television was that maybe the higher ups in the board office were ultimately the force behind the “culture of fear” through micro managing their staff even though the reviewer did say that the trustees should get out of the board office. After reading parts of the Review I now think I know what she meant.
And today, November 15, 2015, the “unity” theme keeps appearing on my TV screen silently in printed video captions under president Obama’s speaking at the G20 conference in Turkey about stricter national boarder enforcement. And the thought occurred that at the G20 “unity” as in Mr. Obama’s early political campaigns means agreement, and it’s difficult to imagine anyone in his audience wanting to disturb the quietude of “unity”.
December 26, 2014
I was just looking at my most recent posts: one very old one and one reminding me that “unity” is still a central political theme along with “change” both highlighted by Mr. Obama in his 2008 primary campaign bringing to mind a curious omission among political slogans – “freedom”.
What follows is quoted from an English translation of Cassius Dio’s Volume I, Book VI, page 199 written in Greek by Zonarus describing a Roman Triumph.
…After these ceremonies the triumphant general would mount his chariot. Now this chariot did not resemble one used in games or in war, but was fashioned in the shape of a round tower. And he would not be alone in the chariot, but if he had children or relatives, he would make the girls and the infant male children get up beside him in it and place the older ones upon the horses — outriggers as well as the yoke-pair; if there were many of them, they would accompany the procession on chargers, riding along beside the victor. None of the rest rode, but all went on foot wearing laurel wreaths…
…A public slave, however, rode with the victor in the chariot itself, holding over him the crown of precious stones set in gold, and kept saying to him, “Look behind!” that is, “Look at what comes after — at the ensuing years of life — and do not be elated or puffed up by your present fortune.”
…Both a bell and a whip were fastened to the chariot, signifying that it was possible for him to meet with misfortune also, to the extent even of being scourged or condemned to death. For it was customary for those who had been condemned to die for any crime to wear a bell, to the end that no one should approach them as they walked along and so be contaminated. Thus arrayed, they entered the city, having at the head of the procession the spoils and trophies and figures representing the captured forts, cities, mountains, rivers, lakes, and seas — everything, in fact, that they had taken. If one day did not suffice for the exhibition out of these things in procession, the celebration was held during a second and a third day. When these adjuncts had gone on their way, the victorious general arrived at the Roman Forum, and after commanding that some of the captives be led to prison and put to death, he rode up to the Capitol…