Financial Fatalism

 

I, like many people receive free local magazines, funded by copious amounts of advertisement. These magazines and their advertisements are designed for the middle and upper middle class. Filled with new-ageism, primitive authenticity, champaign socialist-moralism, and most importantly, the prerequisite high income to afford all these status totems. They are deeply and paradoxically bourgeoisie-bohemian to borrow the term, aka bobos or SWPL‘s for Americans.  Further analysis of these creatures can be made by a brutal book , review and post .

However, what caught my eye was the advice column by a local psychic. Here are two particularly interesting divinations of advice:

 Overseas investment

Q. We are thinking of buying a house overseas, are we doing the right thing? We are getting it at a very reasonable price. Geraldine, Bardon

A. While the house is a great price you should be aware of the difficulty in managing it from such a long distance. I raise this point as I feel you need to doublecheck the plumbing and roofing on the home. I feel it has the potential to flood from bad plumbing and bad roofing. Be careful and check this out a little bit more or I feel this will cost a lot more than you are expecting. 

Career slump

Q. Recently I took voluntary redundancy from a job I had held for about five years. I was unhappy in the job so the redundancy was a great positive in my life as the payout enabled me to take an overseas holiday and not stress too much about getting back into the workforce. However, now I am back from holiday I am happily relaxing and cannot find the motivation to find a new job. Will I find that motivation and will I be happy in my career going forward?Hayleigh, Springwood

A. I feel your lack of motivation is influenced by the fact that you have never thought seriously about what you want to do. I see study coming into your realm next year as I feel that you will want to add another tool to your skills box. I believe a degree in management specialising in HR will be next in line for you. I also feel that you will go into a strong customer training focus within a state government position by May of 2011.[Emphasis added]

Why is the public, the targeted wealthy section that is, inquiring for career and financial advice from a psychic? Isn’t this just dangerous, a dereliction of duty? Also, keep in mind that she is the only advice columnist in this magazine, giving the most specific financial advice, i.e. water damage insurance.

Note the continuous reliance of feeling, emphasised above, providing validation to the decisions. This is all very subjective, the entire point of finance and economics is objective empirical analysis and decision making. I can understand relationship dilemmas falling back on psychic mysticism, though in my opinion established religions with an actual metaphysical framework of ethics and morality to relate to would be better, however this for finance and career orientation, strange but not new. It can’t be argued that career orientation has nothing to do with money, that should be self-evident.

It is possible that some people regard financial arrangements with the sort of mysticism of a superstitious gambler. Money is not made, it’s simply fatefully awarded by the fickle gods. Apart from inheritance and corruption, most entrepeneurs, rich men, moguls, whatever, have created their money through cunning, clever industry knowledge and knowing better the economic conditions than the rest of us, obviously, or we all would be rich.

Perhaps the world of economics, finance, career paths have all become understandably too difficult and complex for the populus at large to understand.  If knowledge is power, then not understanding finance is an admission of powerlessness, and so people throw financial decisions to the winds of chance and spirit forces out of an inability to influence their own surrounding economic condition. One could call it Financial Fatalism. As Reuven Brenner noted that all financial decisions are games of chance, the difference here is between shrewd probabilistic calculations and superstition. With the global financial crisis metastasizing into a hyper-inflationary collapse it appears people are choosing feeling and hope over strategy and resourcefulness.

About Avadoro Worden

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5 Responses to Financial Fatalism

  1. Milan Skarka says:

    Achilles Tendon Pain American Style

    All politic is local or so goes the adage. I would add that all economic issues are really based on local conditions or the will of the people to limit their government. It should be no more complicated than this. Freedom starts will free economic activity, which determines the extent of all other unalienable rights given to us by our Creator. This, however, does not mean that individuals or governments automatically observe those rights.

    As the economy struggles to recover from a collapse mostly caused by government, from the federal to the municipal level, it is essential that the citizens of this county have a voice in deciding both the number of people to be employed and the size of their compensation: those who pay the salaries — that is, the taxpayers — ought to decide whom and what they will pay, an inconvenient truth the bureaucrats and politicians would prefer to forget.

    In light of recent revelations of public employees looting the public treasuries of towns and states across the country to pay themselves ridiculously high salaries, it is high time to make public the salaries of all government employees.

    I remember some 15-20 years ago a local paper printed the salaries and job titles of all Fairfax County employees making more than $50,000 a year. The article required an entire page of fine print to list the thousands of absurd, useless, overpaid jobs the Fairfax County government had devised. In the 20 years since then, this farce has grown into a full-fledged employment program for bureaucrats.

    It may be naïve to think that people or governments will wise up and deal with this fundamental issue of our times in a logical way. It may very well take a crisis of unthinkable proportions to come to balance with reason. However, it is absolutely certain that these issues will be resolved over time. The only question remaining is-will we as free people have anything to do with any solution?

  2. It’s worse than you think. The tactic that government bureacrats use on the public is one of soft corruption. They effectively bribe section sof the public through constructs called PPI public private initiativesand other names, connsultation is the old school method. The Government civil service can allways rely on a part of the pulbic to support or provide passivity to further public expenditure. So in reality the public have become apart of the bureaucratic apparatus, they are now bureaucrats!

  3. Milan Skarka says:

    Well as they say: government is evil and taxation is theft…so unless we keep it to a minimum we’re all doomed.

  4. Pingback: Statistical Magic and its uses | Fog of Chaos

  5. Pingback: Further Fatalism | Fog of Chaos

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