So, I was talking to some high level executives at a major multinational corporation and they were asking me about a well-known business and markets speaker that recently made a presentation to them.
The speaker was very well known, having been in both business media and finance. I won’t mention his name but it rhymes with “Prima Donna”.
I tell you about this because the presentation simply pisses me off. It displays what so many who are front and center in the business and markets business lack; real knowledge and insight. Well-trodden concepts are being peddled as value-added to an important level of the investing public and it is a travesty.
The presentation was an optimistic one. I have no problem with that. What I do have a problem with is that the crux and conclusion of the presentation and the “call to action” was based on, get this, “American Innovation”. Are you kidding me? The over-worn meme of innovation is simply bullshit as an investment concept and anyone who presupposes it will extracate and propel our economy and markets into a sound future is simply a lazy bastard.
Won’t someone please, PLEASE educate the public on the risks and reality of investing in this or any market? Will someone please explain that this is not simply another “recession”. Can’t we teach individual investors to understand what our markets have “innovated themselves” into so they have some rudimentary understanding of something more than simply buying or selling?
I blame the business media that can not or will not get to the heart of what is important. Most of the topics presented are simply bullshit and on the periphery of what is important as actual value added knowledge.
Just stop the bullshit, won’t you?
11 Responses to Was Talking to some Corporate Types….
What Ron Insana meant was that it’s gonna take one hell of a lot of good old’ fashioned Yankee ingenuity to finance Weimar-esque debt from here to eternity. Financial innovation got us the post 911 recession ‘recovery’ largely on the back of MEW – fueled by R/E Securitization which done blowed the fuck up when the R/E bubble (that the Fed denied existed), burst and the TBTF derivatives game ended. We’re gonna need a helluva lot of innovation to top all that.
But I have faith that they are burning the midnight oil to figure out the answer to the ageless question of how to make a Ponzi scheme work indefinitely. Which will be solved about the same time as they refute the First Law of Thermodynamics.
Why would anyone give that guy the time of day?!?
Oh yeah forgot he’s “the guy on TV”, fuck me !!! (hey that rhymes too)
Gosh, was it that transparent?
The derivative game is bigger and more fragile than ever…
It’s the third law that I worry about.
Yeah, I should have stated that it was only the end of an early inning in the derivatives game, with crooked numbers everywhere…
RON INSANA CAN SUCK BLEIER’S BALLS for all I care.
It’s just one example of insulting the intelligence of investors…
So it is spoken in these hallowed halls. The Insana maggot after feasting then starving on a long dead idiot bull market based on time(hey! it is tomorrow now my $1 is $1 and a cent) The Ibankcoin solution continues.
Hows’ the Insana fund doing…?
So that’s why you are back hosting again!
i think the innovations that should be spoken of, should be more on the lines of financial solutions.innovation of products don’t mean shit if folks don’t have money to buy them. here’s an idea why dont we have a federal opt out plan for so-sec for people 55 and older,but still too young to collect. i would take my coin and start another business and put a few folks on the payroll. hell,who needs insurance anymore or medicare. christ everyone i know are passing before 65 any damn way.or another solution give every naturalized citizen a million dollars,and we will stimulate the economy better than the fed,for less than a fraction of the cost. anyone from this administration, or advisors that have left this administration have come up with viable solutions,only to have left this administration, in frustration,that this cabinet does not,or will not understand the workings of money,and or business. and yes scott,this is simply not your pedestrian type of recession,it’s because we are in a depression of denial.
This is silly season with the election taking center stage. Nothing gets any critical analysis. The more outrageous the extrapolation the more dazzling to the audience. But don’t propose any workable solutions. There is just too much pain in any of those.
The world is doing historical stimulating where there is no roadmap regarding results. I have no idea why everyone is treating all this as normal. IMHO we are going into major deflationary deleveraging..but that is me, just a mere individual investor.