Business news never ceases to amuse me. This may be a rather esoteric reference - but the situations seems to resemble those in 南家 (Miname Ke), an anime series I used to watch, in the way that every little detail is made dramatic: 

*Sound of raindrop* - main character looks up at the ominous sky and gasps that life has suddenly become dark. The mood in the living room immediately changes to a melancholy one, and flashing before our eyes are mournful deaths of mistresses and hara-kiri by shamed warriors - *Further sound of raindrop*

I had wondered to myself if it indeed was possible to view real life in such a way, and as of this morning, I happened to have been enlightened. 

Titles can be misleading; the articled named “Wall Street poised for a mixed opening” (ReportonBusiness.com) is not what the verbal attempt represents. At least, when I finished glancing through the article, several keywords surfaced:

• Going gaga over news of profit
• Going gaga over expected profit
• Going gaga over expected recovery of economy
• Going gaga over expected renewal of wealth

This is much more enjoyable than the depressing items I have been subjected to reading in the past few months, and I don’t mean to make anyone seem shallow, but to me it seems that the correlation between “going gaga” and “money” is quite strong.

Another example from the same day is “CIBC sees S&P/TSX at 10,500″ (ReportonBusiness.com). This article begins with some astounding words: “Anyone worried that they missed the market bottom can take a deep breath, according to CIBC World Markets, because the markets are heading back down before a…” Life is filled with opportunities, but have we all not been told to never seek to become opportunists? I wondered if this website was meant not for ordinary citizens of the state but some kind of guru of profit maximization, lowly and simple as my portfolio is. Let’s have some keywords:

• Going gaga over money earning opportunity
• Going gaga over possibility of becoming rich

Yes yes I know this is a financial newspaper, yet I have expected there to be something other than money, money, and more money. Personally, I value money a great deal. I spend much of my life poring over making money, spending money, and saving money, yet I do uphold some common sense that people should not toil under the slavery of having money blossom and bear fruit. If our sky exploded into money crackers, I foresee everyone scrambling on the ground, kicking others out of the way, foraging for savoury bills. 

This was perhaps written with too much bias, a bias against rather than for the green moolah.

Prelude

I hope that this article with which I am launching the new mimiuchi.NET blog with won’t fall too much into the domain of junk. As Fdel and I have previously agreed upon, writing anything of quality regularly and consistently is very difficult, and the brave goal to host intellectual opinions and perspectives on current issues is, well, a challenge that requires much stamina and light-hearted attitude.

P.S. I took so long to write this article that now Fdel has beaten me to it, and of course this is no longer this first post. Life does drag on sometimes.

March 16, 2009

Being a cynic about the market and such, I cannot help but feel that extremist views of any kind are rather distasteful. It is as if one party is floundering and drowning in the pool’s deep-end, while the other party looks ridiculous attempting to swim in 2 inches of shallow water - both are non-ideal situations.

Today’s inspiration was the headline below:

AIG bonuses an ‘outrage’, Obama says - Report on Business, The Globe and Mail

First things first: By bringing up such matters concerning the current economy, I’m pretty much shooting myself in the foot. Secondly, today’s media always trys to keep too much opinion and controversy out of news articles, but I have yet to come across a major Canadian publication that does not zealously advocate Obamian ideology and bombard American stupidity. This week’s copy of The Economist hasn’t come in the mail yet, so I am still waiting to read some of what I consider to be well-written opinionated articles.

Picking up from where I last left off, I am not sure if I can recall all the strains of brilliance that had before been bestowed upon me. I believe that my initial point was going to be the relativity of morality. Suppose oneself to be in the position of an AIG executive. Suppose you make numerous wrong business decisions based on current market trends instead of decisions that would be considered “ethical” and “abiding-by-some-invisible-rule-of-good-decision-making-that-somehow-does-not-take-other-business-decisions-into-account”. It is often said that mob mentality will get us nowhere. Accordingly, behaving as the market behaves is also a crime.

Surprisingly, the market is not some holy entity by itself - it is instead made up of people.

The point of all that, of course, was that these executives should be boiled, grilled, and eaten.

Secondly, the most recent episode of South Park I watched was a treasure. The amount of economic and market criticism is phenomenal. I don’t remember which character it was, but amidst the chaos of the crowd one of the most intelligent remarks I caught was “This is all the government’s fault! The Feds kept the interest rate too low and banks were forced to make sub-prime loans!”. I almost choked on the piece of watermelon I was eating, half out of laughter, and half out of shock. Not that I doubt the philosophical solidity of the show, of course, but simply the fact that someone dared to put it into real words and put it on real television.

What it comes down to, is that the economic crisis is probably our own fault (cynicism yet again). There is a reason why the Federal Reserve does not up the interest rate, and there is a reason why banks do not act irrationally in response to an unchanged, low interest rate. We like to blame everything on big CEOs that are greedy - what is the few million that they receive in bonus when we compared the billions we have lost? To see extravagance as an archnemesis is perhaps one of the most dangerous things to do.

No, I do not approve of gratuitous bonuses for executives who have encouraged poor business models and made poor business decisions, but I also think that we are not as innocent as we think ourselves to be. I once encountered a so-called “animal-right activist with a post-secondary degree” on the subway train. She was fairly disagreeable to all of us, but I think she did have a minor point when she said “we are the ones tearing the earth to pieces”. By that, I mean that we are responsible for everything that happens to us, as a whole, as humanity. There exists no innocent bystander waiting to be saved by Mr. Barack Obama.

I do not have anything against President Obama, but perhaps it is time to stop clinging to him as the Messiah that will revive humanity. I truly believe in the importance of taking reality into our own hands.