Saturday, February 14, 2009

Dance of Chestnuts Again

I don't know. Sometimes I think people must be truly insane. Two years ago, American media was all abuzz about the lack of American Saving, about how Americans were spending, spending like there was no tomorrow. Now, the same American media is all abuzz about the lack of American spending, about how Americans have to start spending, spending more so they can drive the economy back up to its same, dizzying heights.


Proof, if anything, that this latest recession is entirely psychological. Sure, people are losing their jobs, but let's face it: how many jobs were actually necessary? Companies feel compelled to promote mediocre employees after they have served for them a number of years. That leaves companies top-loaded with a lot of useless middle-management, which inevitably gets dumped once banks stopped lending for lack of profitability. So what? they should never have been promoted in the first place. 

So is it Americans' duty to start spending more so companies can hire more supernumeraries, or should we actually start saving money, like we were told we were supposed to be doing before? The AICPA has a huge billboard near my home, urging people to eat out less, eat in more and save money. This is the AICPA telling us this... I don't know about you guys, but as an accountant I have sworn an oath of loyalty to the AICPA, sort of like the old Franciscan Brotherhood. You know, the guys who took the oath of poverty? The guys whom the Pope was always running up against in the middle ages?

Okay, so if the accountants are the modern day Franciscans, who is the Pope? Hm, that's a hard one. Guys like Leo X and Rodrigo Borgia always were a little contradictory in nature, weren't they? Kingdoms collapsing all around them, German princes rebelling, and all they could think about was the Dance of Chestnuts. Sounds a lot like Washington these days. When's the last time you heard Pope Obama and the Curia talk about Social Security or Saving? To them, its still business as usual. Spend on your friends, throw the chestnuts on the ground among the candelabra while your kingdom falls apart around you... 

I'm just waiting to see who the next Martin Luther is going to be.