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UnitedLife 01

Burn at the stake, burn at the stake!

Burn

Peter Bobik
Consultant
Bratislava, Slovakia

A general theme is a boring theme. A personal theme is funny. That is my explanation of the mystery called yellow press (the printed paper one, not a wide street :)).

   So I will start with a personal viewpoint. I pawned Jano. Sort of it is said. I lent him money. Jano is my important client, from some point of view he is fundamental for our company. Some things did not succeeded to him and he was temporarily short of money. He had brilliant periods in past and so I was pleased to lend him. An investment to a future cooperation. Time was passing, I was hearing about Jano that he is not successful and I started to be afraid about my money. The time of repaying a lone was approaching and Jano was not reporting. I was busy and I did not hurry him too. And here is one other person, an acquaintance Mirka. Mirka liked Jano. We have known with Mirka for a long time, we met and chatted now and then, I met her also at that time and actually I did not even know why I complained to her that I was afraid if Jano will give me the money back. She stayed mazed. I had a feeling that I was pulling down her idea which she liked. The day of repaying a loan came, what I even did not know at that moment, and my phone rang. Jano was calling. I had a flash that he did not have and I will lose my money. There was Jano’s voice on phone: „Hi, I transfered the money the day before yesterday, you should have them on your account, I just phone you to say thank you“. I can tell you, I had the feeling of transgression, I should not doubt and in general to do precipitate conclusions.

   And now the boring themes. It is a year 2008 and economic world is over an abyss.

   It is said about system crash, about dominoes effect, anarchy in streets. The markets are falling rapidly and it does not have an end. Somebody should intervene and help. That somebody is of course an American taxpayer – he will take out hundreds of millions for everybody who has problems. And he is strong and rich enough to escalate his possible fatal problem to a mass dominoes effect with a political dimension. The congress and tribunal are at one, we are the last boundary, we can not go further. A boundary between an anarchy and civilization, we have to act. Dear sirs, I can not evaluate, I have a right for opinion and I do not think that this is a good solution, but it happened.

   700 billions USD for bank sector (Troubled Asset Relief Program), 187 billions USD for Fannie Mae annd Freddie Mac, 85 billions of dollars for AIG, „smaller amount“ for GM (33 billions, shocking much). Costs for foreign bases of the USA in Okinawa, Europe and in Near East are not even one third yearly and it is concerned primary American interests. It is so much that see it as a common consumer is actually absurd. Well, it concerns more than a car for every American family or a tablet for every earthman (so also for those from Botswana as for those from Prešov :)). Eventually, we could overbridge the Bering Strait or dam up the Gibraltar from that. It is really very much money.

   Vox populi

   So whopper, so much money, it is reprehensible, who are we going to burn at the stake? This can not stay as it is, this can not repeat. Let’s forbid it to them, limit their salaries, tax them…put them in hold would be the best. So pity, so evil. It will not go over so easy…

   Facts

   TAPR repayed in extenso, taxpayer earned. Fannie Mae and Freddie Mac – partly repayed. Fannie Mae repayed 105 billion USD from the whole help of 117,1 billions USD, Freddie Mac repayed 41,4 billion dollars of 71 billions. GM, part of actions i held by government of the USA and Canada, the loan is partly repayed. GM invests hundreds of millions to the assembly plants in Kansas and Detroit, the reason is keeping of jobs. AIG repayed. On 14th of December 2012 the Department of the Exchequer in the USA sold its last share in AIG. In consequence of these sales the government in the USA secured their taxpayers a positive evaluation for more than 22 billions USD. On 1st of January 2013 AIG started an advertising campaign called „Thank you, America“.

   A growth of the world material wealth was astounding in last three decades and it did not have an analogy in the history. What was the cause? Maybe, we do not want to even know the answer. It is however good to know that if you want, the sources stop to be limited from the practical point of view and the potential of unprecedented extension are at disposal and probably at the first time, we can rationally treat with it.

   I have to call Mirka and put things anyhere near in order, if it is possible. I just wanted to say that sometimes it is better to wait with assessing. At least while the facts are not known and actions closed.

Peter Bobik



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