Tennis Fund For Lower Ranked Pro Players

Although a capitalist in every sense of the word, I do see merit in the position put forward by Novak Djokovic that a fund be set up for lower ranked players struggling financially during this pandemic. Tennis has always had a pay grade system which has richly rewarded the top achievers while paying first round losers a pittance comparatively. The thing about tennis is that those first round losers are phenomenal tennis players and the game would not be what it is today without them. Some move up and some move down. Few of them have had much to say about the pay disparity because they aspire to win and hope to move up the ranks.

These are not ordinary times and they are forced to the sideline. Dominic Thiem doesn’t like the idea and makes a justifiable point that nothing was handed to him as he fought his way to a number three ranking. He’s young, has come into wealth recently, and has ego pumping through his veins. I can’t blame him for his position.

Sport is social but it’s not socialist. The sought after victory comes with reward. However; context and backdrop can never be fully ignored because the human condition must be rational in its zeal.

Pandemic logic

Is it okay to thrust logic into the covid pandemic equation? Let’s start with COVID-19 itself and its name. You see the folks in charge don’t seem to care that much about how they refer to it. First, it was Corona Virus but then someone said – no you can’t call it that because it’s only one type of Corona. Then it was assigned COVID-19 but then youtube was blocking this term because of its sterility and social media wasn’t generating the hits in lieu so folks went back to Corona Virus or “CV”. There seems to be much ambivalence now. Nobody really cares what you call it now because we all get the drift. However; the lack of succinctness in its name reference has eerily paralleled the lack on succinctness in executing policy around its existence.

Who is dying? It is the elderly and those who have “underlying conditions” mostly. Since there are few politically incorrect left who would dare opine online formally on a sensitive topic…i’ll just do it. I’ll say it. The elderly have been treated like second class citizens in the first world and this pandemic has elicited the fact. It’s a virus similar to others but more deadly and if you’re not in good health, it could take you out. Here is the thing – we are all going one day. However; had we treated the elderly better and provided them with the resources fitting of their esteemed contribution to society over their lives, they would have been better equipped to handle the pandemic. The allocation of health care dollars has been disproportionately been paid to doctors over aids to seniors. There is no escaping death but with so much treasure allocated toward health care, many deaths to seniors could have been prevented with better management of health care dollars.

You see. There are consequences to our conduct. If one votes in a lame brain for a President, you should expect poor decision making. If you vote in someone with poor character, expect decision making which reflects self interest instead of the common interest. If a leader doesn’t heed the wisdom of science and medical professionals then expect consequences of such irresponsibility in policy. You get what you ask for. Death could come earlier for you as a result of casting a vote carelessly. It seems like a stretch, right? But it’s not if the dots keep lining up one after another. Just last night Mr. Trump while standing at his podium pontificated injecting the body with “disinfectant” as cure against COVID-19. He did so with a straight face so Anderson Cooper brought in his medical panel for an interview on the subject.

If you hang carcasses of raw meat on the street for sale…are you not asking for a problem? If you don’t do something about the problem, do you really have reason to complain about coming down with a disease? If some government authority believes you are being racist for referencing the idiocy of hanging raw meat in the street, can you not take exception on the premise of simply the meat and the practice as opposed to the skin color of vendors of meat?

The frail needed acute protection at the outset but they were merely administered the same regulatory policy as all others. It wasn’t until long after numerous deaths did officials come to execute more precise protocols around the target market of this virus. Now, a major block of the populous is in lock down and financial quandary paying the price for officials’ complacency in permitting flights after the threat was discovered and interpreted by medical professionals in tandem with a failure to protect the frail with rigor at the outset.      

COVID BUNGLING

  1. Let ‘em fly. Maybe you shouldn’t have.
  2. Forget the masks. Oh. I guess we should be wearing them.
  3. Don’t let the cruise ships port. Oh. I guess we compromised their civil liberties.
  4. Marginally pay those long term care workers. Oh. I guess some of those exorbitant doctors salaries should have been budgeted there.
  5. Speak in monotones. Oh. A little passion for corrective measure would have helped.
  6. Ignore the problem and blame oversight on impeachment distraction. Head shaker.
  7. Forget the inventory of PPE. We have doctors to pay.
  8. Implement regulation and then fail to enforce. How many tickets have been issued?
  9. Cell phones as tracking devices. Who pays those cell phone bills?
  10. Codify financial lingo to disguise the effect. I.E. “purchase bonds” vs “print money”.

Vancouver Teetering On Edge of Bankruptcy

Beneath The Beauty


Is Vancouver teetering on the edge of bankruptcy? Are you old enough to remember the federal immigration policy instituted by Brian Mulroney which encouraged capital investment from abroad via the immigration system? Come to Canada and invest a sum while guaranteeing to employee a few. This was the start of the of the real estate growth wave in Vancouver. The program was only loosely monitored and became the conduit for infusing money into the lower mainland thereby ousting those native born without ancestral ties access to the market.

The demographic of Vancouver changed dramatically in a short time frame and there was a definite cultural shift amidst a policy of “multiculturalism”. This was new vocabulary established partly to challenge the xenophobe while complementing robust immigration policy. When we look around at the cultural mosaic today in lieu of the government message, we see some success but greater failure. The greater failures were middle aged and older Asians not really making the strong effort to immerse along with a white contingent who was not overly welcoming. So, there was a contrast between the government’s ideal and the urban reality. When we look around today, we can give strong marks to the immigrants of millennial and younger generations for gravitating toward their own Canadian destiny.

The capital infusion into B.C.’s lower mainland didn’t stop with the economic immigrant. Banking regulation in Canada has been lax. Imported capital has not been scrutinized. Dirty money has been making its way into Canada for decades and politicians have turned a blind eye. Bankers liked it. Bank shareholders have liked it. It’s only been as recent as four years ago that money laundering activity at casinos in Vancouver became targeted by regulators.

These two sources of capital have been substantial in the real estate market in Vancouver. As of this writing during the COVID-19 pandemic, the City of Vancouver has suggested bankruptcy as an option in the context of 65 per cent of Vancouverites missing their April 1, 2020 property tax payment. Fifty-five per cent are projected to miss their May 1st 2020 payment. What’s the correlation between a hypothesized artificial rise in real estate valuation and the failure of the city to collect taxes amidst the COVID crisis? I suggest that the city’s budget and historic spending grew in tandem within the context of a property tax system built on a weak structure of property valuation and hence the house of cards is now teetering amidst a black swan. 

Calling Out The Bull

I’ve made a habit of calling out the bull way before COVID-19. Satire is one way of illuminating the ridiculous. Facebook friend OB has presented George Carlin as an eloquent broadcaster of satire from the comedy stage. Another way of bringing attention to incidences of bull is by doing a logic drill down to discover source motive. The trouble with this method is you need to be well researched because one flaw in your theory weakens your posture.

One thing for certain becomes evident. Your governments don’t believe you can conduct yourself with common sense. Or, they perpetrate policy with a surreptitious motive of executing one policy in concert with executing a larger purpose.  Here is where we start running into conspiracy theories.

Saving lives and health care finance are obviously worthy causes. However; I do question the imposition of regulation without the resources to enforce such regulation. Our governments have never endorsed using non deputized citizens as law enforcement agents. Issues around civil liberties become acute during a time when one entity starts behaving with misplaced authority.

The COVID-19 story line is one where we see dribs and drabs of regulation coloured with statistics and surprisingly muddled facts from folks who claim to be experts. Then we have the wannabe experts who follow on with their perceived social media empires believing that their message can fill in for the factual void.   

Of course despite the well publicized health recommendations from official health authorities, we have tenants and landlords who want to suddenly play hygiene and six foot police apparently ignorant of the patronizing tone it bestows in a landscape where commercial vacancies are at all time highs. Long term relationships are potentially jeopardized with naive overreach.    

Let’s not forget the establishments which remain open but then don’t want to serve anyway given the hysteria generated about germs. Want to get glasses fitted but then be denied service despite the place being empty with the doors open? We’ll remember who not to visit when things get back to normal.

We certainly don’t want to alienate long term relationships through paranoia over a situation where we should be able to apply common sense in the context of a broad message well heeded and well publicized from the official stage.

Pandemic Potpourri

  1. So ah, take out delivery. Don’t you have tons of time on your hands to cook
  2. Something like seven years to get a doctors degree and still so much contradictory opinion about wearing a mask and defining etiology
  3. Idiocy of downplaying potential and then actualizing the black swan.
  4. Still selling toilet paper in packages of 18 rolls weeks after discovering supply chain issue.
  5. Much talk and little real leadership from particular politicians.
  6. Few people exercising outside and you know they’re headed for a weight gain dilemma.
  7. Human rights reflection in failing to permit cruise ships to port.
  8. Potential for infringing on civil liberties with cell phone tracking permissions.
  9. Discounting any semblance of common sense and government dictums with bulletin board notices and patronizing ads about staying home.
  10. Instances of misplaced sense of authority over others’ conduct.

Monetary System and Bankers Code

Canada is facing a large increase to the money supply in the context of new social programs associated with COVID-19. Your government in conjunction with financial news outlets do not want to use language like “increase the money supply” because it may be deemed alarming or inflationary. Instead, it refers to the monetary system in bankers code.

In essence, government securities are floated for distribution to commercial banks via the country’s “central bank”. The creation of this “security” (example would be a treasury bill or bond) in effect provides the directive for printing press operators to flip the switch. However; in advance of the creation of the new security, the central bank will check its “reserves” to ensure that the “vaults” are sufficiently equipped with an “asset” to merit the production of a new “security”. This is where things get interesting.

It used to be the case that gold characterized the reserve asset. However; gold lost its lustre as a reserve asset when President Nixon took the U.S. off the “Gold Standard” in 1971. President Roosevelt Roosevelt in fact ordered Americans to return gold for dollars as a mechanism to cope with The Great Depression.  

So now, we have the creation of new money without a tangible assets being served as its foundation for existence. Furthermore, we are presented with ever increasing national debts represented by the apparent financing of governments by holders of such securities which will stretch way beyond ledgers of domestic commercial banks. We also have the vast majority of economists supporting such a system and special interest groups professionally organized to acquire government funding.

What can happen when a Black Swan event such as COVID-19 compels governments to inject new money in the hands of consumers in the context of a monetary system which has no tangible asset at its root? Inflation or deflation of course. This is the great debate. Logic dictates that prices should rise with a larger monetary base. However; when social conditions deteriorate, a hoarding impulse may compel folks to store their cash thereby producing deflation. Every economist will tell you that the worst economic scenario is one of “deflation”.

 Politicians without any exposure to “Austrian Economic Theory” will naturally defer to “Keynesian” (flooding market with currency during demand drop) doctrine of mainstream economic thought. Will next generations be contented with paying interest on seemingly unsustainable national debts or will there be a consolidation at some point? Author Jim Rickard has referenced the “Special Depository Right” as a new unit of currency established by the International Monetary Fund.