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Posts Tagged ‘greater fool theory’

“…The words of Laban’s sons saying, Jacob hath taken away all that was our father’s; and Jacob beheld the countenance of Laban, and behold, it was not toward him as before. And the Lord said unto Jacob, Return unto the land of thy fathers…(31:1-3)

God’s plan always works. Jacob needed a lesson in patience. Also he needed to fathom His mysterious ways. God’s ways and ways of the world are antithetical. Glory of the Lord God gave the earth its shape. The earth in return reflects it: the works of His hand are sustained and that is one kind of glory due to His majesty. It works despite of the fallen man who has no fear of God. How fallen man does merely created a cloud and we may name it as ‘ways of the world.’ Let us consider it in general terms and discuss how it worked in the breach of trust between Jacob and Laban.

Wherever the fallen man sets up his crooked ways the earth shall find ways to prove the point: The crooked shall be made straight and the rough ways shall be made smooth(Lk.3:5). This is what we read in other passages as well. God does not have to tempt any man but the earth shall find ways to serve His purpose. So a man eager to make easy money sets up a Ponzi scheme and digs deep into his friends and relatives to join the set up. All they need find are friends from their social circles whose swelling ranks make the man at the top of the pyramid rake in his profits without a sweat. Afterall living among your own kind and moving in same social circles gives each a certain understanding: worth of a dollar when invested wisely can make hundred in no time. It also has taught him social capital is how many friends and contacts he can always touch in need. With so much worldly wisdom stirring up man to play at stocks or other means to make profits ask yourself how come a sure thing as was promised to you all of a sudden crash down? Or a financial bubble make those talking in billions lose even the shirts off their backs? Glory of the earth may be obscured by man and his ways but shall nevertheless reach God to whom alone is Glory, Amen.

“With the pure thou wilt shew thyself pure; and with the froward thou wilt shew thyself unsavoury (2 S.22:27; Ps.18:26)”. “As for such as turn aside unto their crooked ways, the LORD shall lead them forth with the workers of iniquity:..(Ps.125:5)”. (To be concluded)
Benny

 

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News on the March
Irish tycoon ordered to repay bank record $560 mln-AP News
Sean Quinn was once the richest man in Ireland till he was declared a bankrupt. He had found the easiest way to reach where he wanted to be. Only that he wanted to land into a life of ease and all the luxuries the wealth could provide him. He mistook a turnstile for his home and it was his mistake. He passed through this turnstile to be declared a bankrupt. He may not know but there is a regular stampede outside to take his place and they have no clue what is going on really within.
How does the rich turn poor? For the simple reason there is no trick to juggle with figures,- and lo and behold you are a billionaire on paper, and it is what we see these days since greed is good has been declared as a mantra for the fellows who never did a day’s honest work. They were latched onto a single idea,- and so engrossed in it were they to train their hands to learn a useful trade or master some art or crafts. In all probability they would have let down those who had high hopes on them and, their teachers, dear ones who saw in them something precious. The great men in hurry are so seized with their own goals that they might fail to make some one else happy by giving something genuinely their own. Love as always is swallowed up in greed. Citizen Kane for example is a good example.
It is also quite possible they may have not felt a single emotion in their adult lives.
See one who is ambitious to make riches by playing in stocks? In the stock market the greater fool theory has already tagged him to play a fool. Naturally he acquires all the trappings of wealth on credit and when he is really shown for what he is, everything he had amassed also are taken from him. He has simply missed life, which was the greatest gift he had in the first place to call his own. John Ruskin rightly wrote ‘There is no wealth but life.’(Unto This Last)
When you see paper billionaires turn aside lest you should be taken along with these insubstantial men of shadows. We ought to be concerned with life and not false shadows that cannot substitute for life.
Tail Piece:
Tomorrow is is the Thanksgiving Day- Let Turkey be freed from fear of another quake and Greece not drip from the Euro-plate. Keep precious China out of the table.
benny

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Chalk it to my innocence in economic matters, or I am out of step with the young eager beavers who gravitate to investment banking like proverbial duck to water, which perhaps is right either way. I often think of events I read daily while stretched on my mattress. When I am thus inclined I know my deposit in my bank is quite safe. Of course I lay on it to think and to feel safe. By the way my mattress serves as my bank. Some time ago, in 1995 I think, I quite clearly remember of  reading about Nick Leeson, late of Britain’s Barings Bank. ‘I even thought had I the guts I could have stood in his shoes and busted Barings Bank before lunch and went out to do a few more to keep my day full’. But which Bank will employ for their most dangerous missions,(one of which evidently is in window dressing their annual reports,) one whose entire banking operation is restricted to his mattress? Lehman Brothers would have laughed me in my face to put it out of joint, I know for certain.
2.
Only lately I realized there are two avenues that market economy takes to. Main Street and Wall Street. I am lifelong learner. So I went about asking questions. Then I asked those who dabbled in stocks Pug and Mug, who were sitting by the kerb. They replied, “ Economic meltdown, Ben. When we began playing in stocks sky was the limit and now it has come down and took us with it.” It seems one goes to Yale or some other university where all that you get is an education. It must be job-oriented, any fool will tell you that.  Pug my Yale educated friend was signed up even before he left College to put ‘Greater-fool-theory’ to practice. As far as I can see the bubble burst just as Nasdaq bubble of 2000, Nikkei bubble of 1991,stock market crash of 1987and 1929, Florida real estate bubble in the 1920 and so on. Give a fool a bubble and all that he thinks of is buying up stocks and hope to sell to another. Meantime he trusts in God that it will not burst in his face till a greater fool could be found. Well I think I will lie on my mattress to think when it is going to burst again and over what. Honest to God I know that it will , only the details will change here and there. While Pug and Mug are out waiting for the bailout I shall sleep.
By the way I don’t sleep all that well what with nickels and quarters make my bed quite lumpy.
benny

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