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World Cup Final Perfect Microcosm of World of Finance
Submitted by Qasim Khan
Soccer is a beautiful game; unfortunately, World Cup finals usually are not (today’s in particular) and for an obvious reason: the stakes are just too high. de Jong’s first half karate kick was so egregiously perverse that it was almost surreal. For as much flack as they get (see Jim Joyce), referees are stuck with the impossible task of sorting out nearly unparalleled mayhem. It’s disheartening to see a World Cup that has had such compelling storylines and beautiful play, capped off and likely defined by such an awful spectacle in front of its largest audience.
It’s not that everyone involved lacks respect for the game; it’s just simply the fact that when there is a World Cup to be won, nothing else really matters. Arjen Robben captured this beautifully going into the final when he said, "The intent is there to play good football, but the result is far more important. We have heard enough of talk about how our football is very nice. But it gets you nowhere. We want to achieve something."
Ironically, it was Robben who illustrated his point to perfection today. After a beaten Puyol committed every possible foul to impede Robben on a breakaway, Robben had to make a difficult decision: go down or go for goal. He actually had legitimate justification to go down; Puyol would have very likely received a red card and Netherlands would have been in very good position to secure its first World Cup. But Robben chose to stay on his feet, went for the glory and came up empty (to be fair, it was a beautiful save by Saint Iker). No card. No goal. No World Cup. Nothing. And after all the previously confused musings, it dawned on all spectators just why soccer players flop, fake and in some cases, outright cheat.
And that is the problem with the world of finance. Every day is the World Cup final. Trillions of dollars. Creation and destruction of societies. The stakes are that high; so players will flop, fake and play dirty because at the end of the day, no one remembers or cares about second place. Like their referee counterparts, regulators find themselves in the impossible position of judging unbelievably talented people who are willing to do just about anything to win. Which is why when I see headlines like this weekend’s “Bank of America Says $10.7 Billion of Trades Wrongly Classified,” I really am not surprised anymore.
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Let me make absolutely certain I've got this right:
For me to accept the fundamental premise of this article, I have to accept that our financial oppressors are as exceptional and gifted as World Cup players? Unbelievably talented?
Please. Unbelievably greedy and amoral seems more apt.
And the referees? You'll be surprised to know that World Cup referees have actually played the game upon which they're called to judge. If governmental regulators were talented and experienced enough to ably oversee the finance crowd, they'd already be working directly for them, instead of incredulously asking grade-school questions at hearings during Armageddon's aftermath.
You have failed. Badly.
Indeed. It is the failure to recognize the true nature of humans, in an attempt to elevate our own selves, that amuses me most. Humans are assholes. They are also saints. They are everything in between.
That is why regulation never works. Free markets baby- they are the only chaos that works and provides the most utility to the most people.
Which explains why we have never enjoyed one. The elites can't compete on a level field. They are cowards.
I think you are better off looking at hockey for an analogy.
I went to a fight and a hockey game broke out.
Hockey is a better analogy. Tick-tack-toe passing (of the beautiful game) complete with 5minutes for fighting; 2 minutes for a mistaken elbow or slashing. Take a dive and the referees (and your teammates) don't know you are on the ice.
If the referees were paid off by the coaches....would be more similar....ie facism....
Regulatory capture....is the name of the American Game....
It's all who you know....and who you pay....and how you pay....
Aren't they?
I wonder if Goldman are trying to hire Paul the Octopus?
If people were not greedy and corruptible we would have no problems...
Speculators have been driving-up the price of wheat over the past month or two to make a profit, do any of them consider the consequences to the people in the third world who will starve to death because now their food staple is unattainable?? Nope...
What this article fails to point out is this years World's Cup was determined by an oracle octopus, Paul, living in western Germany.
http://sports.yahoo.com/top/news?slug=ap-germany-octopusoracle-worldcup
It is kinda like the world's economy, the elite leaders have their tentacles wrapped around everything!
Soccer sucks.
Soccer does not suck.
Paul sucks!
You lost me at "soccer is a beautiful game".
Everything has beauty, but not everyone sees it. ~Confucius
Even dung beetles and Jamie Dimon.
Oh sure, the way that dung beetles roll their crap into a nifty little ball of...uhh... crap, it's downright awe inspiring!
Jamie Dimon, now that is a little more difficult...he probably has some sort of endearing addiction to 'hello kitty' or something.
Lots of good analogies here.
You can't compare finance to any sport because sports have rules. I see the connection with "poor officiating" because that is a big part of the current disaster. No officiating is really the reality.
But really there are no rules. There are buildings full of schemers and lawyers (is there a difference?) that do nothing all day but look for ways to circumvent the rules. And they have allot more resources than the "regulators" do.
I like the article
Updated DOW charts etc.
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
"A game is just a game. It is always a mistake to compare a game with real life" Ludwig von Mises.
On the other hand I would add that the referee let them play like butchers so they played like butchers.
I don't see any place for a referee in finance other than the free market. By free market I mean no FED and no legal tender laws. The players don't regulate themselves but are regulated by their clients through competition.
Soccer is a game that is protected and influenced by international politics. Probably the most retarded concept of a sport next to badminton and curling. It needs a complete overhaul, similar to our financial markets. 1-0, "extra time", red card, yellow card, shirt off!! Come on. If there is a sport to spur global excitement, go with Rugby or step up the american games baseball and football, 'cause "futbol" blows!
Man, things must really be slow. Let's tank this market and get on with the program!