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Pretty sad, really

I was kinda pleased with myself over at Marketing so decided to reprise.

 

The Cardinals of the Real Church are officially in conclave so the financial world breathlessly awaits. I think it would be pretty cool if they decided to send up a cloud of black smoke a few times and stay in session for several more days.

 

It would be enormous fun watching world markets gyrate wildly on each rumor and speculation. I bet by the second day all TV programming would be interrupted for a 24/7 news vigil. If it went on until sunday I'm 50/50 about the NFL. 

 

 Of course that won't happen because the whole game is about sending the Real Pope out exactly on time with exactly the right message for "markets"- what Dr. Bernake referred to in his white paper as communications management (he greatly admired Greenspan on that, or at least had to pretend to in order to get the nod).

 

You know, none of us knows whether to **bleep** or go blind, including them. Nobody has any idea what to do other than supporting the crumbling financial structure and asset values, at this point they are left soley to the stock indices. And I have to give them some credit, they've been reasonably successful at that even as the real economy continues to sink.

 

Speaking of asset values, this morning's pre-Fed risk on stock market ramp job is occurring in the face of another crummy houisng number and foreclosures are again picking up steam as B of A's solvency becomes the more urgent matter and the robosigning investigation gets pushed out of the way. Nothing gets fixed until the banking/housing mess gets fixed.

 

That's complicated, which means that absolutely nothing of consequence will even be attempted because in a complex world there is infinite capacity for any and every interest to muddy the waters sufficiently to cause gridlock.

 

 

 

 

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Re: Pretty sad, really

Not to mention the ill-informed or out of date but otherwise credentialed being listened to without being questioned. Greenspan just for starters.

 

And I'm guessing that you've quite possibly mat have seen this, but just in case:

 

http://www.nakedcapitalism.com/2011/09/the-very-important-and-of-course-blacklisted-bis-paper-about-...