Imitation may not be the world’s oldest profession. but it is supposed to be the sincerest form of flattery.  You be the judge.

Dave wrote on August 3, 2011.

Just an old fashion love song… playing on the radio. You may not have noticed yet what Dave noticed. It may be due to the fact that you didn’t have a Panasonic portable cassette player and pirated recordings of The Grass Roots and Three Dog Night.

Do you know the one word you have heard over and over through the 2009 – 2010 financial season? That’s right – AUSTERITY. Well, that’s a thing of the past. The new word for the 2010 – 2011 financial season is… drumroll please…. HARMONY. That’s right – HARMONY. Actually to be more accurate it’s “harmonization.” To be downright specific… “financial harmonization.”

So Mohammed El-Erian’s (of PIMCO) new normal may be a multi-polar world and one of the new poles is Frankfurt where frankly speaking the whole idea of global banking cartels started with the launch of the Rothschild empire on the banks of the Main.

Even in a great band like Three Dog Night, singing an Old Fashion Love Song coming down in three part harmony, there’s still only one lead singer.

Bill Gross wrote in his September, 2011 Investment Outlook Letter released yesterday. 

Just an old-fashioned love song.  Comin’ down in three-part harmony.

In many ways the global economic crisis is like a marriage gone bad. As the Three Dog Night sang years ago, global economies have functioned harmoniously for many years, but suddenly the love songs have become strident and cacophonous, the policy coordination morphing into a war of the roses as opposed to a giving of them. Instead of three-part harmony we are now experiencing, at a minimum, tri-party disharmony, teetering on the brink of “divorce,” which in economic parlance means a possible “developed economy” recession – a downturn from which reconciliation may be difficult due to a lack of policy options and cooperation.

Maybe flattering Dave by procuring his ideas and then calling them your own is going to be the new normal in a multi-polar world.  Dave realizes he wasn’t a member of Three Dog Night, but he did buy a pirated copy of their album at the flea market in the 70’s and he did stay in a Holiday Inn Express and he expects more than having his ideas simply “ponced” on by Bill Gross.  Albeit, Bill and I disagree on who exactly is blowing the pitch pipe on this global a cappella financial tune.

There is one thing that isn’t new about those who prefer to promote the work of other “dirty shirts” so that they can keep their own shirt clean.  Promoting the world’s oldest profession is certainly not NEW and it’s not NORMAL, unless you consider getting other people to do your dirty work while you get paid for it as “normal”.  If the boys in Newport Beach keep their Huggy Bear act up, I’m going to be forced to call in Starsky & Hutch on their Allianz alliance (they are owned by the Germans you know).  According to the dictionary, to be precise, it’s pandering and PIMCO’s doing it with your pension money and that’s downright un-American.    

Here’s a link to Dave’s original response to the Gross’ Dirty Shirt proposal and how Dave equates the same with treason: http://tradewithdave.com/?p=7573

Here’s the link to Dave’s original 3-Dog-Night post: http://tradewithdave.com/?p=7583

Here’s a link to the entire Bill Gross PIMCO letter: http://www.pimco.com/EN/Insights/Pages/New-Fangled-Love-Songs.aspxd




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