Consequences That Make Your Blood Boil

I was having a conversation with my son about Lance Armstrong who was quoted as saying that no one can win the Tour De France without doping. Then it struck me, now that he has been stripped of his medals, the runner up would win ?

But what a cheated feeling I would have if I were Jan Ulrich (whom I had supported), winning years later and being deprived of the winner’s podium, the jersey and the limelight. Till I just read … errr, Ulrich and Pantani are both just as guilty (http://www.theglobeandmail.com/sports/more-sports/french-inquiry-uncovers-proof-marco-pantani-and-jan-ullrich-used-epo/article13387016/)

Great, maybe it will go to the 3rd ? 4th runner up ? But how does it matter after so many years ?

SAC’S Cohen Risks Losing Fortune While Keeping His Freedom

Bloomberg.

Steven A Cohen had Charles Saatchi rich ! And Damien Hirst too ! Paying 12 million dollars for a stuffed shark that cost about USD 30,000 to produce. But they called it ART. And named it The Physical Impossibility of Death in the Mind of Someone Living.

damien hirst 12 million dollar stuffed shark

It was easy pennies to him because he earned an estimated 1-2 million an hour so it was just a day’s work for him.

In commoditising the art world, Jeff Koons, who incidentally started his career as a commodities broker, was able to sell his “ART”  Hoover vacuum cleaners for millions.

Jeff Koons Hoover Celebrity Jeff Koons Hoover Celebrity

 

Thus when I read that the insider trader story was squashed by none either than Reuters back in 2009, it was not a surprise. There is power at work here.

http://www.talkingbiznews.com/1/reuters-kills-hedge-fund-story-after-pressure/

SAC investors now face the consequences of his actions and may face potential clawbacks of their profits over the years.

http://pragcap.com/investors-in-steven-cohens-sac-may-face-clawbacks?utm_source=dlvr.it&utm_medium=twitter

The government can tax and fine him away from his 8 billion dollar fortune but will the people who have lost money to the markets due to his actions ever be compensated ?

 

The Pitfalls Of Politburo Planning: Pollution Produces Cancer

Zerohedge.

“….academic studies released this week have now shown a direct link between higher cancer-rates in Central China and the level of pollution. The study published on June 25th is the first to scientifically prove the correlation between water pollution and cancer mortality in an area of China that is home to more than 160 million people…one local villager exclaimed “we should re-consider the country’s industrialization.” What cost a 7% GDP growth print?

http://www.zerohedge.com/news/2013-07-26/pitfalls-politburo-planning-pollution-produces-cancer

We have already seen 3 year old boys in China pull dump trucks, and kids with glowing green eyes. Marvel Comics could send a team over to get some inspiration for their new superheroes.

China boy with glowing eyessource : http://www.nhne-pulse.org

Bangladeshi workers burnt to death just months back, paying a price for our cheap t shirts. Dead chinese animals surfacing in China’s waterways that may eventually find their way to America if the Shuanghui International takeover of Smithfield Farms passes Senate.

http://www.theatlantic.com/china/archive/2013/07/american-politicians-should-stop-worrying-about-chinese-pork/277917/

That is a consequence for the future to tackle.

QUANTITATIVE EASING

It is clear who the main beneficiaries of QE are.

Check out the summary of latest corporate earnings beating the street expectations. Financial companies stand head and shoulder above the rest of the real economy.

http://www.zerohedge.com/news/2013-07-26/visualizing-real-economy-vs-financial-economyhttp://www.zerohedge.com/news/2013-07-26/visualizing-real-economy-vs-financial-economy

Another consequence we will soon face.

CORRUPTION

30 million protesters in Egypt and turning violent.

http://online.wsj.com/article/SB10001424127887324564704578631593973776364.html

Over the past months, we had Turkey and Brazil and now Bulgaria joins in the fray, their protests into the 42nd day when when Delyan Peevsky, an influential and powerful media mogul, said to be involved in illegal business who maintains links to the mafia, was appointed head of the Bulgarian security agency.

http://m.dw.de/english/mobile.A-16979160-1433.html?maca=en-twitter_en_europe-4005-xml-mrss

JIANGSGU AND DETROIT

Both teetering into bankruptcy.

Jiangsu reaped the most from the Chinese’s QE but the money has been frittered away, possibly in those London penthouses ?

http://www.zerohedge.com/news/2013-07-26/welcome-jiangsu-chinas-flashing-red-canary-coalmine

Detroit has made the bankers rich at a price.

We cannot help but feel with certain injustice for the people who will suffer from this. On the actions that should not have been taken that they were powerless to control.

Consequences cannot be erased even if the culprits have been punished. Even if the CEOs of the companies that polluted face the usual chinese firing squad, the cancer will remain.