Posted On: Friday - December 29th 2017 7:59PM MST
In Topics:   Music  Economics
This was the upcoming post mentioned in the previous one. We're discussing here the practice of deeming oneself to be an expert in some field by explaining exactly why certain events have happened, when one just didn't get around to it, or something, beforehand.
The Finance "industry", #1 of the sectors of the worse-than-useless F.I.R.E. economy (mostly just for the acronym's sake), is a field full of big, big EXPLAINERS. There are explainers out the ying/yang, as most of us have experienced, I'm sure.
"The big drop in the DOW today was due to Mr. Merkel's speech yesterday about the European Union."
"Bonds yields have gone up this week due to investors being rattled over the goings on in the Middle East."
"Gold attained a three month high due to Mr. Yellen having attained menopause yesterday, with the S&P 500 pausing to take a breather due to consolidation in the rap-music sector (somebody put a cap in somebody's ass, or something)."
"The long decline of the NASDAQ since month-end was obvious at month beginning, as profit taking continues (yeah, knock yourself out, take your profits and get outta here), but we were not able to relate that information due to press deadlines. So, we're telling you now - don't know about tomorrow."
The investment guys always have very good reasons for what happened, ALREADY, but they never have the time to tell us that stuff beforehand. They are busy, busy people, people. Just once I'd like them to say "If Trump says something about North Korea, then stocks will end up higher this afternoon." NO, I mean TO ME, not his buddies at the bar at lunch, and I want a guarantee! NO, not a guarantee that his advice will pan out, but at least that he will lose something on the transaction if his prediction is wrong, along with my stupid ass (stupid for dealing with any of these finance "workers", which is why I don't.)
Yeah, more curmudgeonry here, right ... what kind of people do I like? Well, there's astronauts ... let's see ... Hey, I really like some part of the field of economics. No, it's far from a science, so I won't dignify it with that designation. However, the 1st-semester econ, with the supply/demand curves, price elasticity, price points, tax rates, the Laffer curve, etc. is pretty common-sensical, good stuff. You can work out some numbers this way, and use it to make decisions. I think a few economists could be useful in helping businesses using just those 1st-semester concepts. Econ 102 - no, it's all downhill from there.
The supply/demand idea come in right here, right now, in this very post, as it explains why we have these bullshit artists all trying to get us to invest by explaining why every financial thing just happened. How many simple economists that could consult and help businesses with pricing, tax law, etc. do we need? It's not a lot, and they wouldn't even have to graduate, as again, the last 3 1/2 years is what the psych majors (even MORE useless, if that's possible) call negative learning. Therefore, unless we create a demand for these $150/month newsletter writers, we're gonna have such an oversupply of economists that their wages will less than that in a Chinese McDonalds. The MBA programs are churning out bullshit artists, and someone's gotta hire them, I suppose.
That explains the oversupply in explainers when it comes to finance. You sound great at the closing bell, but don't take a loss no matter what you guessed at the opening bell. It's nice work if you
"This is the office of a busy man, can you hold the line ...
"... in pipes the music you can't understand.
Can you change the station?
Is there a message, he's on with L.A.
Big deal in L.A.
His time is his money, and his money is time.
Can you hold the line?
Do you know who I am?
Do you know who I am?
Do you know who I am?
This is the city of a busy man.
It's New York, New York.
There's thousands of people, and it's dog eat dog.
Can you taste the smog?
You've got to rush here and you've got to rush there.
Don't ask me why.
It's the city of dreams, it's the right kind of place
for a busy man.
1989, from "The Ocean Blue" (self-titled album)
Peak Stupidity featured this great band, The Ocean Blue, from Hershey, Pennsylvania, before, on, you guessed it, Columbus Day.
David Schelzel, Vocals and Guitars
Steve Lau, Keyboards, Saxophone and Vocals
Bobby Mittan, Bass guitar
Rob Minnig, Drums
Lyrics, David Schelzel
Music, David Schelzel and THE OCEAN BLUE