Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Monday, 4 October 2021

Hermits - an investment opportunity.

On a recent visit to the splendid ruins of Restormel Castle we learned that the 13th. century Earl of Cornwall had a personal team of hermits who, in return for scraps of food and some primitive accommodation, would pray for his continuing prosperity and the gift of eternal life.  It would be fascinating to learn how the Earl measured the productivity of his hermits but should his fortunes decline, the hermits would be on hand to take the blame.  There’s something darkly impressive about engaging the services of those whose lives are dedicated to abstinence, piety and penury to intercede with a higher power in the interests of wealth accumulation and the more I think about it, the more it feels like an idea whose time has come again.  Surely Jeff Bezos’s gilded existence could only be enhanced by the addition of a handful of hermits on his payroll. It’s just a matter of convincing him that their modest running costs and exemption from the minimum wage would make a cost effective investment. His duty of care to the hermits could be discharged by a daily drone delivery of subsistence rations direct to their home pods.  Devising performance metrics for the power of prayer should be a simple matter for the digital wizards at Mr. Bezos’s disposal.  Those hermits whose performance is most convincing could be rewarded with ice-cold showers and a reduced food allowance to elevate their sense of self-denial - making them the only group of workers who can be incentivised by reductions in their pay and conditions.  All that remains is to find an accountant to make a persuasive case for hermit expenses to be tax deductible.

There’s a clear gap in the market here for an online agency to recruit and supply hermits to high net worth individuals.  For now we must recruit from the human population but before long advances in Artificial Intelligence should enable us to offer fully automated robotic hermits, leaving humans to do what they do best - delivering parcels and driving HGVs. Prospective hermits would require positive references from senior clergy and come fully vetted for unacceptable behaviours and socialist tendencies.  Only those anchorites with the greatest experience in achieving the transfer of wealth from those who possess the least to those whose need is least, in a morally justifiable way will be offered for service.  All world religions (except Brexit) can be catered for if spiritual needs should change. Fees will have to reflect the costs of all due diligence but once installed your hermit will be fully operational at minimal expense and you can look forward to a lifetime of conscience-free wealth accumulation. What follows is a draft business proposition aimed at Mr. Jacob Rees-Mogg, who would seem to be the ideal client.

As a senior Cabinet Minister and family man, you will be more than familiar with the issue of time-pressures. We are writing to offer our services to solve the competing demands of the spiritual and the material in your all too busy life.  So often it is the spiritual side of our lives that is neglected in favour of our duties and responsibilities to our family and our employer.  It may not have occurred to you that the perfect solution to this may be found in your own government’s policy of outsourcing and privatisation.  Why not outsource your own spiritual responsibilities and engage the services of a hermit at virtually no cost to yourself?  Those like yourself with the deepest spiritual commitment may find a hermit multi-pack even more advantageous.  As well as praising God with impressive intensity and efficiency our fully trained hermits will pray for the success of your political ambitions and business interests.  Their frugality can be offset against the environmental costs of your own lifestyle enabling you to become fully sustainable.  Our hermit planning services can supply nutritional guidance and advise on minimal standards of hermit accommodation - we can even visit your property and indicate the best sites for the modern hermitage. Rest assured that our hermits have been comprehensively vetted for displeasing habits and offensive ideologies. Fees will have to reflect the costs of all due diligence but once installed your hermit will be fully operational at minimal expense and you can look forward to a lifetime of conscience-free wealth accumulation.


 

Monday, 21 August 2017

The Banks are Made of Marble


The tenth anniversary of the first signs of the Global Financial Crisis of 2007-08 is being marked, rather than celebrated, by much media commentary – platitudinous hindsight for the most part. Thanks to the tireless efforts of Messrs. Osborne, Cameron and Clegg (aided and abetted by a supine opposition) we now know that that the world economy crashed due to the incompetence of Gordon Brown and the profligacy of the Labour government’s reckless public spending. Anyway, enough of fake narratives – we pay homage here to the spiritual home of casino banking, the USA. Birthplace of the Collateralised Debt Obligation, Credit Default Swaps and the Subprime Mortgage. After 30 years of assiduous creation of their legendary status as brutal and callous deal-makers, the banking community had finally over-reached.


The Los Angeles bank vault is a tribute in gleaming metal to the efforts of the rich to defend their property and the corresponding efforts of the criminal class to get their hands on them without the inconvenience of earning them. All cool reflective surfaces and empty spaces. Most of these cards pre-date the crash of 1929 and include some small town retail banks of the type that failed in the thousands as well as large faceless operations concealed within skyscraper towers and lesser buildings of varying degrees of architectural pomposity.


A New York State farmer named Les Rice wrote the song, The Banks are made of Marble in the late 1940s and Pete Seeger, who was a near neighbour and acquaintance, included it in his repertoire for the rest of his career. In the 2012 clip below, Pete’s accompanied by the Rivertown Kids, a notorious bunch of brain-washed, alt-left, merchants of hate. Watch and shudder. The most stirring version is the one performed by Leo Kottke and Iris DeMent on Prairie Home Companion. Sadly, only the corpse remains visible on YouTube.