Random Thoughts from an Observer
The world continues to battle COVID-19 and the solutions are not up to the task, particularly in the United States and Italy. The primary purpose of government is to protect its citizens. Here in the US our elected leadership has forgotten this basic principle. All other objectives are a distant second and most distant thirds (ie, capital markets). The obsession by governments to literally throw money at the current situation represents how far we have degraded as a society. Our obsession with personal consumption has overtaken all else to the point that more resources are being misappropriated toward feeding superfluous materialism than combating an exponentially growing virus. It’s simply embarrassing. It’s gotten to the point that as an objective observer and proud American I am literally flabbergasted at the depths of depravity of our political class. Prior to this I was merely disgusted but now I am just apoplectically out of my mind by the madness of it all. They are truly idiots. We need term limits and a balanced budget amendment. It’s the only way to purge the federal system.
We have an annual economy of approximately $20,000,000,000,000 (that’s 13 zeroes – even Obama policy makers would understand that scale!) as does the European Union. Policies on the scale of 5% of this figure are not going to impact the economic dynamic in a meaningfully way. It is like eating a chocolate bar when you haven’t eaten in a few days. It’s a sugar rush but has little impact on your organs as they shut down. The policies are pure psychology and nothing more. Decision makers are using the same tired playbook from the last decade. What is taking place now requires them to keep citizens safe not spending mindlessly. To date they are not up to the task. They just don’t seem to understand the issue. Citizens are scared and getting more so with each passing day due to misguided efforts and bad leadership. Stop throwing good money after bad and direct it toward policies with a single mandate: SAFETY. People’s lives need to be saved rather than artificially calming and supporting financial markets using mindless and ineffective short-term measures.
Let the markets do what the markets need to do to clear. Liquidity has a price when priorities come to the fore. Equilibrium can’t be synthetically reached using ridiculous policies. When the market clears properly, the economy can then heal and properly function. Artificial insertions only create distortions. Particularly when those insertions are from borrowed sources. We beseech policy makers to redirect efforts toward solving the problem. Again, they are only adding to an eventual financial Armageddon. Supposed investment professionals are clamoring for more stimulus like addicts. Addiction ends one of two ways – death or rehabilitation. We are prescribing rehabilitation. All this administration seems to do is add to the debt burden. Just let the economy and the markets alone already and worry exclusively on the health and safety of your citizens.
The sheer lack of coordination across the country is simply ridiculous. Every leader is playing Whack-a-Mole and replicating horrifically bad decision making. We have the media cheering on the liberal agenda rather than reporting responsibly. The entire cycle is a pandemic of stupidity. All parties involved in informing the public refuse to grasp what’s happening and place country first. Stop blaming and stating the problem over and over. SOLVE the problem. Solutions take reflection and deliberation. Not a single elected official seems capable of that process.
The media, all media, is reveling in headlines that seed panic. They are a coddled group that irresponsibly focuses on efforts to feed their narcissism. For the most part they are half-wits. They shout fire and then get upset that politicians react with short sighted and misplaced policies to put out their fire. The subsequent running for the exits is a sequential result of their reckless reporting. They then point the finger at the politicians. It’s classic. They effectively trigger the panic and then create their own news. Then they have the temerity to report their criticisms toward policy makers. The lack of accountability is mind numbing.
Let’s all remind ourselves where this thing originated from. China’s communist state is 100% responsible for the virus spreading. They lie, steal, cheat and murder. The world should consider shutting the door on them following this crisis. They must be held accountable. It’s not complicated. The world should collectively force China to be transparent. They have a choice. Conform or isolate.
Higher education is on the brink of extinction. Most universities have effectively signed their own death warrant with going online. This will be a major outcome of the current crisis. Folks will realize that paying $50,000 or more a year for a worthless degree is just fiscally irresponsible. It is an egregious and needless expenditure particularly when the same degree can be obtained for a fraction of the cost online. Coddled iGens will be better served and we will have a lot of PhD’s serving coffee at Starbucks or drinks at local bars.
Higher education is not an entitlement. A liberal arts degree from what is effectively a country club has no market value and creates debt that can’t be repaid. Some interesting real estate opportunities will be available shortly. Our country will be better off and conversation may be more interesting at local eateries. We look forward to arguing the merits of existentialism while having a beer and a burger. Honestly, that’s a better use of a PhD in philosophy than pretending to be an educator or being an academic administrator.
I recently read an article about the economic consequences of what was described as the current draconian policies. The human interest aspects revolved around a spa worker, a personal chef, an Uber eat deliverer, a hairdresser, and a personal masseuse. If this is the extent of our sacrificing then perhaps as a society we will be just fine. Have we become that pampered and entitled that these types of services are considered vital? We are of the belief that this might be an opportunity for American society to reset and focus on what truly matters. God Bless America.