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
- Referendum Result; Market Reaction
- Political Reaction; Opposition Party Reaction
Last Time Out
Since the end of World War II, 71 years have passed during which, the “perfect” balance has resulted in 63 different Italian governments, or more often than most change shoes. Instead of being a real second legislative check, that balance is seemingly a weapon of mass distraction and instrument of political vetoes which creates legislative paralysis. Is it any wonder how little effective or real change is accomplished, and how much the populace laments?
Oh the irony of it all? Wanting immediate change, while saying we won’t get fooled again, by voting NO to constitutional change which could alleviate legislative gridlock, it could be another case of “Meet the new boss, same as the old boss.” Pick your poison comes to mind. - Catch 22?
Italian voters were caught in a Catch 22, having a chance with YES, to escape the legislative gridlock of a perfectly symmetric bicameral legislature, or with NO sending a politician and his party, packing. And then status quo as in meet the new boss, same as the old boss?
And you may ask yourself, wellHow did I get here?
Perhaps it was the type of chance which comes along….
Once In A Lifetime?
“Once in a Lifetime” is a song by new wave band Talking Heads, released in 1981 as the first single from their fourth studio album, 1980’s Remain in Light. The song was written by David Byrne, Brian Eno, Chris Frantz, Jerry Harrison, and Tina Weymouth, and produced by Brian Eno. It was named one of the 100 most important American musical works of the 20th century by National Public Radio and is also included in The Rock and Roll Hall of Fame’s 500 Songs that Shaped Rock and Roll.
Eno used a different rhythm count for some members of the group than others, starting on the “3” instead of the “1.” It gave the song what Eno called “a funny balance within it. It has really two centers of gravity: their ‘1’ and my ‘1.’” This rhythm imbalance was exaggerated in the studio, and is present throughout the song.
Eno decided to approach the production by allowing each of the band members to record overdubs of different rhythmic and musical ideas independently of each other, with each member being kept blind to what the others had recorded on tape. In the final mix, Eno faded between these independent ideas at different parts of the song. This is very much in keeping with his production technique of oblique strategies.
Speaking of oblique strategies, following up on the gory details in ItalExit? A Catch 22? Part 1 and Catch 22 Part 2…
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