Courtesy of Nattering Naybob.
Summary
Discussion, critique and analysis of the potential impacts on equity, bond, commodity, capital and asset markets regarding the following:
- Dec 4th Italian Constitutional Referendum
- Current State; No Change; Proposed Changes
- Procedural Changes; Other Infrastructure Changes
Last Time Out
While spreads widen and market rates continue to rise vs “unnatural additive” rates (NIRP, ZIRP artificial central bank), the massive global bond bubble should continue its blood letting. - A Miracle On 34th Street?
Meanwhile, the #3 Eurozone economy is having a constitutional referendum this Sunday.
“The referendum has nothing to do with leaving the EU, that’s what the MSM wants everyone to think…. Simply put, a NO vote maintains the STATUS QUO in senate power (upper house) , electoral process and Renzi probably resigns. The latter being what many want.” From Part 1
In trying to escape legislative gridlock, somebody could be in for a….
Catch 22
Frequently cited as one of the greatest literary works of the 20th century, Joseph Heller’s satirical novel Catch-22 uses a distinctive non-chronological third-person omniscient narration, describing events from the points of view of different characters. The separate storylines are out of sequence so the timeline develops along with the plot. The pacing of the novel Catch-22 is frenetic, its tenor intellectual, and its tone largely absurdist, interspersed with brief moments of gritty, almost horrific, realism.
In 1970, academy award winning (The Graduate) director Mike Nichols and screenwriter Buck Henry (also in the cast) converted Heller’s complex novel to the medium of film. The adaptation substantially changed and simplified the book’s plot to largely follow events in chronological order, with only one event shown in the main characters flashbacks.
The cast included Alan Arkin, Bob Balaban, Martin Balsam, Richard Benjamin, Italian actress Olimpia Carlisi, French comedian Marcel Dalio, Art Garfunkel (his acting debut), Jack Gilford, Charles Grodin, Bob Newhart, Anthony Perkins, Paula Prentiss, Martin Sheen, Jon Voight, and Orson Welles.
During WWII, a U.S. Army Air Force B-25 bombardier (Alan Arkin) stationed on a Mediterranean base, is trying desperately to be certified insane so he can stop flying missions. The “Catch-22″ starts as a set of paradoxical requirements whereby airmen mentally unfit to fly did not have to do so, but could not actually be excused.
As explained, an airman “would be crazy to fly more missions and sane if he didn’t, but if he was sane he’d have to fly them. If he flew them he was crazy and didn’t have to; but if he didn’t, he was sane and had to.“
Speaking of Catch-22’s, checks and balances….
Current State of The Italian Legislature
A perfectly symmetric bicameral legislature exists.
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