SNAFU

“Fight Against Stupidity And Bureaucracy”

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It’s never pretty when some smart ass says I told you so.

But never mind that.

“I told you so.”

There I said it.

I wrote a post “The Only Way Is Up, Unless It’s Sideways” (if you want to read it click here) that all the logic in my head told me that contrary to the Fed’s threats to raise interest rates in June they wouldn’t.

They didn’t.

Gloat, gloat.

Mind you, although I’m taking all the credit that’s going, it wasn’t that hard to figure out. Despite that it did seem to be beyond most of the ‘financial advisors’ who just swallow whatever government crap that’s going and act accordingly – and usually lose money.

So it wasn’t a great surprise to me when on Friday past, after an announcement from the Bureau of Labor Statistics that reported 280,000 jobs created in May, the promised interest-rate hike expectations have moved back to this September. My guess is still that interest rates will remain near zero for considerably longer than that. (I explained my reasoning in that other post just referred to.)

SNAFU they say in the army.

For those who don’t know, SNAFU means ‘situation normal, all f***ed up’, because that’s how it always seems in the military. Usually however they muddle through because they can always count on being bailed out by the government.

With the government it’s different. There’s no one to bail them out.

The American economy, which is currently built around a staggeringly enormous debt of $18 trillion, is slowing.

Add to that equation sluggish economic recovery on the back of a collossal and prolonged printing of money by the Fed — Quantitative Easing, they called it.

And you do not have a sound enough foundation to support raising interest rates.

Some wiser voices in the Fed – maybe just a wise voice – realize the whole thing is out of control. The Fed has hinted, prodded and sometimes just asked plainly for the government to stop reckless spending habits. But the government hasn’t tightened its belt, nor doesn’t seem likely to.

What this really means is that a hike in interest rates too soon or too fast risks not only a market crash, but also a catastrophic mess for the government — and as I said in  my previous article on the subject 2016 is an election year so there probably won’t be much boat rocking going on.

Stay tuned for what happens in September, I still have some humble pie in the freezer if I need it.

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General Confusion And Major Disaster.

“Fight Against Stupidity And Bureaucracy”

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No, today’s post is not about matters military, although the term ‘SNAFU’ would be rather appropriate.

This one is about the General Election in Britain in May 2015 that will decide who will run the country for the next five years and who will be Prime Minister. This is a crucial election for voters because there is no real front runner. One party is as bad as the other. So a few votes here and there could make a crucial difference. Sounds a bit like Florida!

It may even end up with another coalition government in Britain, although I don’t know if the Conservatives could stomach another five years of being tied to the Liberals – but what am I talking about, of course they could, if it meant clinging on to power.

The election might be even closer than it should be because millions of people may be unable to vote. The secretive Whitehall department of stupid bureaucrats responsible for – wait for the irony, “efficiency” – refused to heed warnings from its own pilot programs that showed it had major problems with data matching.

It is very similar to the way the nerds at Microsoft didn’t believe their testers when they told them Windows 8 was a pile of doo-doo.

The bureaucrats first of all created new legal requirements for voter registration requiring them to verify information that was previously taken on trust.

The only thing is, about five and a half million voters went missing from the Electoral Register. The tests they carried out told them this was likely to happen, but they didn’t listen. Bureaucrats never do until it is too late.

According to government sources, “The digital service allows anyone to register to vote online, from any device connected to the web. It’s incredibly quick and simple – it takes less than five minutes.”

They forgot to add the crucial line that – it doesn’t work.

The problems became apparent as soon as the web service went live. The Electoral Register was a lot shorter than it had been. Not only that but strange things also began to happen.

For example, a five-year-old boy in Crewe had been given the vote – but he couldn’t get off the Electoral Register, because he was not able to produce his National Insurance number, which of course he didn’t have – because he was only five. Duhh!!!

In another case a woman, who had been an eligible voter on the Electoral Roll for twenty years, failed to get on to the new one because her National Insurance number was in her maiden name which did not match with her married name which the system insisted she use now.

The whole thing has turned into a government-created mess. People are now filling in the registration form thinking that means they are registered to vote, but actually they haven’t. All they have managed to do is submit an application to register to vote.

It’s bit like filling in a form so that you are eligible to fill in a form. A bureaucrat’s dream!

So it’s looking like general confusion and major disaster for the election. Just more proof that government bureaucrats and computer systems just don’t belong together.

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