Saturday, July 29, 2017

Blue Wednesday

Blue Wednesday


As children we’re taught that cursing, even when we’re in pain, is inappropriate, betrays a limited vocabulary or is somehow low class in that ambiguous way many cultural lessons suggest. But profanity serves a physiological, emotional and social purpose — and it’s effective only because it’s inappropriate.
“The paradox is that it’s that very act of suppression of the language that creates those same taboos for the next generation,” said Benjamin K. Bergen, author of “What the F: What Swearing Reveals About Our Language, Our Brains and Ourselves.” He calls this the “profanity paradox.”
“The reason that a child thinks the F-word is a bad word is that, growing up, he or she was told that it was a bad word, so profanity is a cultural construct that perpetuates itself through time,” said Dr. Bergen, a professor of cognitive science at the University of California, San Diego. “It’s an affliction of its own creation.”
-      NY Times, The Case for Cursing

By J.M. Hamilton (7-29-2017)

As we grow older, some of us shed our vices.  We recognize that certain behaviors are not good for our health, careers, and mental & spiritual wellbeing.

JMH has never pretended to be a saint, although I, and this blog, do celebrate accountability and honesty (which all too often appear absent from today's private and public sector leadership).  JMH clearly has a great appreciation for truth, and those who speak truth to power.

However, some bad habits do die hard.  Generally, I avoid swearing in written correspondence, in the office environment, and in public.  For me, it’s an issue of self-control.  That said, in a private setting, and sometimes with family or friends ... blue language may come tumbling out.  (Of course, thanks to the N.S.A., Booz Allen Hamilton, Apple, Microsoft, cellular and internet service providers, et al., there really is no such thing as privacy anymore.  Is there?)

Interestingly, the NY Times did a highly timely piece this week, The Case for Cursing, indicating that swearing may actually be healthy for us.  Among some of the mental, moral, and physical benefits some doctors and experts attribute to foul language: swearing may very well be cathartic, providing stress release; people who are profane often have a strong vocabulary and tendency towards greater honesty; and swearing - on the heals of injury or shock - may actually trigger a natural analgesic.  

On the flip side, in communications and debate classes, as well as many professional environments, swearing and ad hominem attacks are often associated with an emotional response, an acknowledgement that one's argument and logic are inferior, and basically, amounts to throwing in the towel or waving a white flag of surrender.  And in today's corporate environment, is generally grounds for termination.

The 1968 William F. Buckley/Gore Vidal debates – the first televised political commentary during the Democratic and Republican conventions - are an outstanding example.  The liberal, Mr. Vidal, knew exactly what he was doing when he baited Mr. Buckley by calling him a "crypto-Nazi."  The resulting rage and threat of physical violence - not to mention Mr. Buckley's use of the slur "queer" against Mr. Vidal - basically threw the debate.  That said, there is little doubt that Messrs. Buckley & Vidal were outstanding debaters.  Indeed, the extreme polarization in American politics we see today - along w/ the MSM cable and news channels becoming advocacy centers for the establishment political parties – it has been argued, goes back to the Buckley/Vidal debates.

Enter Messrs. Trump, and his new Communications Director, Mr. Anthony Scaramucci, who unloaded a string of blasphemies on New Yorker Reporter, Mr. Ryan Lizza, last Wednesday night.  Mr. Scaramucci, apparently, was trying to shake Mr. Lizza's tree, in the quest for the reporter to give up White House leakers & sources. 

One wonders what exactly Mr. Scaramucci (a/k/a The Mooch) was doing in using such language with a New Yorker reporter, a left of center news organization and journal.  Did the Mooch really believe such language would intimidate or scare Mr. Lizza?  Was he attempting to show there was a new cowboy/sheriff in town, and the leaks that had been sinking the Trumptanic would no longer be tolerated?  Was Mr. Scaramucci inebriated, or intoxicated with his newfound role and highly sought after power?  (The New York Post reported this week that Mr. Scaramucci's wife is seeking a divorce.  Allegedly, per Mrs. Scaramucci & The Post, the Mooch pursued Mr. Trump - and a White House position - with such vigor that he abandoned his wife, while pregnant.  By the way, a writer truly has entered Trumplandia, when they start quoting The New York Post.)

Perhaps Mr. Scaramucci's language – yet another Goldman $achs alum -  is mere New York city & Wall Street bravado... a lot of bluster and so much summer wind.

Then again, Mr. Scaramucci knew he was talking to a reporter.  Possibly, consciously or subconsciously, the Mooch wanted to be outed for such language:  all the better to demonstrate to Trump his blind fealty and loyalty.  Blind loyalty and obedience are personnel characteristics POTUS Trump appears to admire above all other attributes.  Given the President's behavior, and his own words and lack of commitment to his promises, honesty and integrity don't appear to be on his list.

Among other things shared with the New Yorker reporter, Mr. Scaramucci erupted that Mr. Bannon may have sexual powers far beyond us mere mortals, and he accused the White House Chief of Staff, Reince Priebus, of being disloyal, the source of leaks, and a "paranoid schizophrenic."  

To the best of my knowledge, the Mooch is neither a psychologist or psychiatrist, but he may want to seek the counsel of a professional after this outburst.

POTUS Trump - whose tongue also runneth over - took immediate action following the Mooch's foul-mouthed diatribe, and fired Mr. Priebus.   


                  
Photograph by Jabin Botsford / The Washington Post / Getty





What are we to make of all this?

Well for one thing, the heat is on Mr. Trump and the GOP.  Mr. Trump - running as an outsider, a populist, and the savior of the Republican Party - hasn't delivered jack (but executive orders; attempts at dismantling many of the government programs that benefit his core constituency, to pay for tax cuts for the rich; and appointing a rightwing jurist to the Supreme Court).

To distract and pander to his ever shrinking base (a/k/a the Alt-Right), Mr. Trump also appears to have encouraged police violence, has repeatedly attacked the LGBT community, and apparently, has limited regard for women (particularly women GOP Senators, who do not vote Trump’s way).

Otherwise, with the Trump administration drowning in chaos, it's basically been a parade of losses...  and w/ the GOP dominating both houses of Congress no less.

Are the American people - particularly Trump voters - tired of losing yet?   

Some pundits are already speculating that Mr. Trump is a lame duck.

The aforementioned NY Times piece on cursing also noted that swearing can be triggered by the fight or flight response, or vice versa.

Now, perhaps we are on to something.  With Mr. Mueller's investigation heating up, and the White House, to date, saturated in failure, there appears to be a great deal of fear and loathing spreading around the District of Columbia, with the epicenter of said fear located at 1600 Pennsylvania Avenue and the Republican Party.

As such, we can likely expect far more colorful language vomiting forth from the White House in the weeks and months ahead, and a continued assault on civil liberties and the safety net that protects Trump’s base (indeed, all Americans).

Somebody has to cough up to pay for a bloated and profane oligarchy.



 Copyright JM Hamilton Publishing 2017


Sunday, July 16, 2017

Chairman Dimon Speaks...


Chairman Dimon Speaks...

“It’s almost an embarrassment being an American traveling around the world,” Dimon, 61, said on a conference call with analysts. He doesn’t like listening to the “stupid shit” Americans have to deal with, expressing frustration over the nation’s inability to invest in infrastructure and overhaul the tax code. “There would be much stronger growth if there were more intelligent decisions and less gridlock.”

- Bloomberg:  Dimon Says Being an American Abroad Is ‘Almost an Embarrassment’


By J.M. Hamilton. (7-15-2017)
Poor Mr. Dimon... It appears that he had a rough week.
Mr. Dimon appears shocked, perhaps angry, and almost embarrassed about the United States.
Normally, we might chock this up to just another tantrum from the C-Suite aristocracy, but this story bears scrutiny.
Mr. Dimon's frustrations seems reminiscent of another billionaire's behavior, who recently was elected to the White House.  
Things, so far, didn't go quite as expected.  The various branches of government did not yield to the billionaire’s every command.  
Who knew democracy could be so messy?
Ah, the perils of being a billionaire, where nearly every executive below you is often found toadying up.  The bubble envelopes said plutocrat.  Pretty soon the expectation becomes, from said CEO, one’s every word should be treated as gospel, and w/in the corporate citadel often is.  
If only the lackeys in the House & Senate would listen, as well?
Lord knows JP Morgan - and the Wall Street cartel - certainly paid enough for the Congress to listen.  Maybe that's at the root of Mr. Dimon's concerns, the failure of Congress to enact Wall Street lobbyist diktats?  After all, Goldman Sachs runs the White House, and perhaps soon enough The Fed.
Speculating further upon Mr. Dimon’s thinking, perhaps a hostile takeover of Congress is in order?
Such ingratitude after America saved Mr. Dimon's career and his company from near certain ruin.


One wouldn't know it from Mr. Dimon's outburst this week, but he was on an investor call reporting that J.P. Morgan had made a record $26.5 billion over the last 12 months, and enjoyed a record second quarter.
One might assume that all the regulations Wall Street lawyers and lobbyist wrote into Dodd Frank had a perilous impact upon J.P. Morgan’s earnings.  No, instead, JP Morgan is reporting record earnings.  Maybe that explains his remarks?
How quickly Wall Street royalty forget...
In 2008, if this country had a legal system that functioned and wasn't rigged, Mr. Dimon, and his Wall Street comrades, might have found themselves behind bars for exploiting moral hazard/depositor & taxpayer money on an unprecedented scale, and short selling America, stockholders, and banking clients (in a debt securitization scam).  Instead of receiving a multi-trillion dollar bailout, Mr. Dimon - in a truly capitalist system - might have seen his career and his company vanish; instead of the Federal Reserve taking, then, toxic assets off Wall Street bank balance sheets, those failing assets could have been left on Wall Street bank balance sheets, setting off a cascading collapse.  The record liquidity (trillions) pumped into the various markets - to re-inflate assets - might not have occurred (Thank the heavens, the Fed answers to its true mandate: Wall Street banks and the stock market). 
J.P. Morgan and Wall Street banks could have been nationalized, and effectively were nationalized, except the high flyer executives - who brought the global economy to ruin - kept their jobs.  Main Street, however, they weren't so lucky.  Over leveraged families - and small & medium sized businesses - were shit out of luck (no bailouts for them); nor did the prior administration - or prior Fed chairman - tie any strings to all the free money and bailouts that were showered upon the Wall Street banks (personal debt restructuring, debt forgiveness on home loans, which would have sparked the economy: forget about it).  In the intervening years, since the 2008 Wall Street debacle, instead of serving in prison, Mr. Dimon became a billionaire.  Since 2010, loan to deposit ratios steadily declined throughout the banking industry, hence helping to keep inflation in check and the free money flowing from the Fed. 
Of course, shadow banking & private equity were exempt from Wall Street’s capital strike, since the crisis.
Meanwhile, JP Morgan and the Wall Street banking cartel - flush w/ free money from the Fed - led one of the largest M&A booms ever witnessed.  The consolidation of many sectors of the economy - advised, financed, & underwritten by Wall Street banks - as JMH reported in our last piece - killed jobs & opportunity, and played a significant role in wage stagnation and wage & wealth inequality (again, effectively sterilizing the Federal Reserve's largesse from the general public, holding inflation in check, and keeping the Fed's cash spigot turned on). 



So much for trickle down monetary policy…
And now Mr. Dimon has the unmitigated gall to whine about an opioid epidemic, Wall Street banks, directly & indirectly, played a significant role in creating.
When workers don't have hope, jobs, or opportunity (due to free trade agreements, industry consolidation, and the offshoring of labor)... they often - in despair - turn to substances that allow them to escape their poverty and their reality.  
And sometimes - through excess and misadventure - they end up... dead.
One wonders - w/ Mr. Dimon being so bright and all - does any of this ever enter into his stream of consciousness?  Or perhaps the more appropriate question is: Does Mr. Dimon have a conscience?
But for the grace of the Goddess above, go I.
Mr. Dimon, in a recent shareholder letter, lamented that the number of publicly traded companies had been cut in half.  The drop in the number of publicly traded companies is bad for business, the economy, investors, labor, the tax base & the United States.  And yet, Mr. Dimon does not acknowledge Wall Street banking’s outsized role in eliminating and consolidating all these publicly traded companies.
Once again, here is a criminal enterprise – Wall Street banks – working against the interests of the United States and the vast majority of the American people.
Maybe we'll have a POTUS Dimon some day, and he can show us how it all works.
Wouldn't that be special? 
Then again, given how the current White House occupant is faring, perhaps another CEO POTUS is not what the nation needs.
 Copyright JM Hamilton Publishing 2017