Diary of a Financier

Here’s Something That’s NOT a Rumor

In Existential on Thu 20 Oct 2011 at 10:41

I guess the rumor-mongering in Europe has irritated most investors/traders. I, for one, acknowledge it and deal with it. Yes, it’s a frustrating facet of the noisy, undulating marketplace. Yes, these a-fundamental factors are occurring with greater frequency these days. Yet, read any prospectus/Qs/Ks of any singlename security and you’ll notice these kinds of things mentioned in the “Risk Factors.”

Yes, the European rumormill is shameless, childish. It’s the mark of an empire losing control. Both the politicians and their mouthpieces (the news organizations who enable the charade by whoring themselves) should bear the burden of persecution, and they will–whether at the hand of the court or the street. I worry not for the traders and the Wall Street plutocracy, professionals for whom risk management is compulsory. I worry for the plebs, those furthest removed from this “marketplace.” In every market turn, a job is being lost, a family is being broken, and a life is being taken. Shame! Shame!

Here’s something that’s not a rumor. Greek riots. Michelle Caruso-Cabrera has returned to Greece to cover the developing story there for CNBC. (She’s the right person for the job, not because she’s tough, because she actually seems to comprehend the gravity and convey it in her delivery.) These riots are not like the protests in Syntagma Square outside of parliment during the austerity vote in June. Those protest left me with a mix of sanguinity & anxiety. Today, I’m taken by horror. Anarchists and Communists fight in the middle of the crowd. Rogues hurl Petrol-bombs at individual onlookers. Where once laser-pointers emanated from the crowd in clever defiance, clouds of smoke beam, their darkness conveying the angst.

There’s much to discuss about the matter. (Do the politicians have the best interests of the people in their hearts? Do the people know what’s best for them? Does government have the right to dictate what’s best for the people? What is best for the people, the greatest good for the greatest number?) This is not about my own philosophy or my own intellectual curiosity though. This has evolved into more than politics, economics, et al. This has become existential. Given the status quo, I ask (as I have many times before): what good has this Monetary Union yielded for politics, economics or the peace?

From this Diary’s “About” page:

In trading, the gains & losses are an inadequate expression of my vision, my ideas and my critique. I take no solace in forfeiting my intellect, in burying my thoughts within an invalid social proxy like capital markets. I need a greater sense of purpose: something that rears a proud legacy; something with resonance and social value. The intellectual capital that exists in the blogosphere stores such powerful potential energy. This emergence is well-timed, because society has evolved, and the media–who were the liaison between the people & the politics–have been compromised. Converting brainpower & bickering into real solutions, the blogosphere may usurp that responsibility to police. I want my place within that new republic.

I mean this. I hope my reaction to the Eurocrisis resonates. I hope this goes viral across the web, affecting the change–via diplomacy–our President and Congress so emptily promised. Do the people really need shock & awe to affect a democratic bowel movement from their capitals? If they congregate peacefully, in droves, is that not enough? Is violence the only form of persuasion?

The Greeks in the streets won’t fade away.  Eurocratic shuffling of the deckchairs will not send the demos home.  They will demand their say.  So when they’re ignored by finmins in fine suits, when they’re cast deeper into indentured servitude, when they’re slipped arsenic offered as ambrosia… what’s their next move?

–Romeo

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