Monday, March 17, 2014

Financial Sarcasm Roundup for 03/17/14

Here's a shout-out to all of the stupid losers who think a happy Saint Patrick's Day is about getting plastered as fast as possible.  True geniuses like Yours Truly know how to enjoy public festivals responsibly.

The Transatlantic trade pact partners are still yapping about what a great deal they're going to get.  Talk is cheap.  It's a good thing the US typically names political donors and trust fund babies as its ambassadors to Europe.  Those folks have the contacts to reach back to the US business community and ask for negotiating instructions.  This trade pact will be a boon if it makes German chocolate and Italian salami cheaper to buy in San Francisco.

The FDIC begins its legal pursuit of Libor manipulation.  This is more than a year after London regulators realized how tough it would be to bring large banks to heel.  Don't think this is going anywhere.  Regulators have to go through the motions and levy wrist-slap fines so they can find future employment with the same miscreant banks.

New York just knocked London off its pedestal as the world's top financial center.  Go USA, red / white / blue and all that jazz.  Maybe a bunch of Russian "oily-garchs" decided to move some business out of London last year.  I can't believe San Francisco isn't in the Big Four.  What's wrong with this town?  We've got plenty of cash laying around.  Silicon Valley billionaires are doing their part for M&A by adding more app makers to their ecosystems.

Low-income Americans are stuck in poverty.  These people are like that old TV commercial where that old lady says she's fallen and can't get up.  There are plenty of reasons why the poor can't find decent-paying work.  The minimum wage, illegal immigration, and health care mandates make it too expensive for small businesses to hire more workers.  Poor folks will have to take multiple part-time jobs to raise their living standards.  If it's any consolation, that's also the future of work for most of the highly-skilled middle class.

St. Patrick's Day means some leprechaun is stumbling towards a pot of gold with a drink in hand. Now is the time to follow him.