In yet another amusing headline from the mainstream media networks, a Bloomberg article ran with the opening title, "S&P 500 Rebounds to Record as Putin Comments Ease Tension." I find myself asking two questions. First, what defines "rebound?" Yes, the market added some much needed points, but we are still down compared to a week ago : not by much perhaps (-1.17% for the S&P 500), but nevertheless down. And that raises concerns (or at least it should!) about market sustainability and whether the alleged improvements in key economic metrics will have a meaningful impact for investors. The second question I have may be more philosophical in nature yet is perfectly relevant : who trusts the KGB?
Look, I get it : our government spies on us and regardless of your opinion about Edward Snowden, he did bring attention to the civil rights violations of the National Security Agency. No longer an entity only mentioned in conspiracy theory websites, the NSA was publicly embarrassed not only by domestic sources, but international ones as well. It turns out that there was no country safe from the leering eyes of this once ultra-clandestine organization. The implication is that the United States should be the last country criticizing the political and military actions of another, especially on moral or even legal grounds.
However, laws are laws. It does not matter if another entity broke the law and got away with it. If you are accused of committing an infraction, you have to present a case for yourself. The ill-deeds of third-parties are auxiliary distractions if anything, and the employment of such tactics as a primary defense is juvenile and suggests a lack of conviction. It also doesn't matter if you and a majority of other people think a particular law is bullshit. I think the speed limit of 65mph is bullshit because I rarely come across drivers that obey that restriction, yet if I was pulled over for speeding, my defense cannot be that "the law is bullshit." I must have something of greater substance than that!
Which is why the events in Ukraine still deeply concern me : we are dealing with a former KGB agent with mental problems (as per German chancellor, Angela Merkel) and a penchant for violating rules and laws. Remember, this is a guy who put in place a lackey as president and then proceeded to rewrite his own country's constitution so that he could resume the top executive seat. And people are soothed by his comments that the Ukrainian conflict will not escalate? This man has already invaded the sovereign territory of another country under obviously false pretexts and propaganda! Why should we believe anything that comes out of a known liar's mouth?
It may not be tomorrow but we can be certain that this geopolitical crisis will not end so quietly. That would obviously have very dire consequences for your investment portfolio. Maybe America and the West can sleep easy for a few weeks or a few months. I don't have a crystal ball or anything. But I do know a thing or two about history.
The last time the world attempted appeasement and diplomacy, it didn't go over so well...
Look, I get it : our government spies on us and regardless of your opinion about Edward Snowden, he did bring attention to the civil rights violations of the National Security Agency. No longer an entity only mentioned in conspiracy theory websites, the NSA was publicly embarrassed not only by domestic sources, but international ones as well. It turns out that there was no country safe from the leering eyes of this once ultra-clandestine organization. The implication is that the United States should be the last country criticizing the political and military actions of another, especially on moral or even legal grounds.
However, laws are laws. It does not matter if another entity broke the law and got away with it. If you are accused of committing an infraction, you have to present a case for yourself. The ill-deeds of third-parties are auxiliary distractions if anything, and the employment of such tactics as a primary defense is juvenile and suggests a lack of conviction. It also doesn't matter if you and a majority of other people think a particular law is bullshit. I think the speed limit of 65mph is bullshit because I rarely come across drivers that obey that restriction, yet if I was pulled over for speeding, my defense cannot be that "the law is bullshit." I must have something of greater substance than that!
Which is why the events in Ukraine still deeply concern me : we are dealing with a former KGB agent with mental problems (as per German chancellor, Angela Merkel) and a penchant for violating rules and laws. Remember, this is a guy who put in place a lackey as president and then proceeded to rewrite his own country's constitution so that he could resume the top executive seat. And people are soothed by his comments that the Ukrainian conflict will not escalate? This man has already invaded the sovereign territory of another country under obviously false pretexts and propaganda! Why should we believe anything that comes out of a known liar's mouth?
It may not be tomorrow but we can be certain that this geopolitical crisis will not end so quietly. That would obviously have very dire consequences for your investment portfolio. Maybe America and the West can sleep easy for a few weeks or a few months. I don't have a crystal ball or anything. But I do know a thing or two about history.
The last time the world attempted appeasement and diplomacy, it didn't go over so well...
RSS Feed
