Humor becomes reality. Some things are really humorous (hilarious) and some things are sadly humorous. Since it’s summer and generally a slow time in the financial markets, let’s start with the hilarious.
Remember the old Abbott & Costello “Who’s on First” comedy skit? And, if you don’t or have never seen it take a few minutes to brighten your day.
Now that you have probably stopped laughing (if you did indeed watch), here comes the sadly humorous (aka reality) relationship between the two.
So, who’s in charge of the United States (who’s on first?)? Who actually is running the country? The current sitting president is certainly not and the heiress apparent is certainly not. Of course maybe we really don’t want to know?? The flip side is if no one is actually running the country, no one is accountable either. Hmmmm!
This same “Who” person seems to have been in charge of the U.S. Secret Service, too. Rather than who was in charge, it seems (once again) no one was in charge when there was an assassination attempt on the ex-president. Nope, not the local police, not the USSS, not the advance team or anybody. Ooops. Sorry about that wayward bullet.
It’s also pretty apparent that a few years ago someone was supposed to be in charge of border immigration. There was a border ‘czar’ (“Who”) that we now are told actually wasn’t in charge. What? Oh wait, What is the second baseman in the comedy skit. Seems What didn’t know Who was in charge either. Again, no accountability.
So if nobody knows who is charge, or IF there is anyone in charge, and nobody knows what is going on, nor responsible for whatever happens, where does this lead? Can denying any responsibility actually work? Would it work in the financial markets?
Let’s say you ran a large hedge fund and lost money. Your largest investor says “why did you lose money?” All you have to say is “I DID NOT. And, if I did, it’s your fault because you gave me money and if you hadn’t I wouldn’t have lost your money. I’m the victim here.”
Remember when you were a kid and your mom caught you standing next to a broken vase. Just say “I didn’t do it.” And here we are.
Bill Taylor is the CEO of Digital Wealth News™ and AI & Finance™ and a 40+ year veteran of the financial markets. You can also ready his weekly musings on BTC, ETH, Gold & S&P500 at The Taylor Ma
