This page has been archived and commenting is disabled.

Art Cashin On Today's Other Anniversary

Tyler Durden's picture





 

Yesterday, we presented Art Cashin's unique perspective on the US equity market's darkest day 25 years ago. However, as Art notes, there was another event 555 years ago that offers some insight into the current state of the world. On this day in 1457, the government banned that most sacred of pastimes - golf. Most notably, Cashin reflects on the eventual backfire from this government intervention - as always seems to be the case.

Via Art Cashin, UBS:

On this day (+2) in 1457, a government reacted to fears that its people had grown too frivolous and therefore the country was losing its greatness. As governments tend to do, it decided to legislate a higher morality on the populace.

 

The problem was that the men of the country were not practicing their skills of archery and horsemanship, which were so important to the national defense. Instead for the last few decades, they were getting caught up in sports - or rather one specific sport. It was an ancient pastime and may have gotten its modern name from a variant in Holland where a man clubbed a stone to a target stick. But the Scots didn't want to waste any sticks. So in their version you clubbed a ball to a hole. The Dutch called their game kolf; the Scots called their version golf. (So much for the silly internet canard about “Gents Only Ladies Forbidden.”)

 

Anyway, on this day (we think) the Parliament under King James II outlawed the game. Like most other government attempts, it was about as effective as prohibition. In less than a century, there was a Royal Course at St. Andrews and less than a century later, Scotland was just a part of the British Empire. (You can't stop an army with a putter.)

 

To celebrate, stop by the 19th hole and have a couple of aces without a slice. But, stop before you see bogey men or get trapped. And, if you happen to be balancing your checkbook, remember to replace the divots.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 10/19/2012 - 09:50 | Link to Comment taniquetil
taniquetil's picture

I don't understand. Is this buullish for stox?

Fri, 10/19/2012 - 09:49 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"Art Cashin On Today's Other Anniversary"

Mrs Cog is gonna KILL me for forgetting ours. :)

Fri, 10/19/2012 - 09:54 | Link to Comment nmewn
nmewn's picture

FORE!!!...word.

Fri, 10/19/2012 - 10:02 | Link to Comment knukles
knukles's picture

Lol
So many just wrong thoughts are going through my mind
Restraint of pen and tongue this early is a gift of serenity

Fri, 10/19/2012 - 10:01 | Link to Comment nmewn
nmewn's picture

I hear ya...I was joking last night...sorta...lol.

Have you considered introducing jousting to the foursome? ;-)

Fri, 10/19/2012 - 11:08 | Link to Comment knukles
knukles's picture

nmewn, while I knew you were joking, I have in the past been almost ready to scream, yell and stomp off the course like a petulant child for neither the uber-libs nor their neo-con counterparts "get" it.
They truly believe that their team is right, will make a difference and display a common trait Bernays so beautifully exploited, that being the sub conscious desire to simply be right for its own sake irregardless, but more importantly, that of belonging and accepted within a "tribe"
I golf with them for I love them as great golf buds, irrespective that they may be flawed individuals, as are we all.
I golf to golf.
I also get a big kick out of setting the spark alight with mere obtuse mention of a controversial topic which, some 2 holes or so later turns into a unmitigated feeding contest between the two Hegelian Dialectics, distracting from their games, entertaining me no end and affording a couple extra skins, methinks.
But yes, in all candor, there have been times....

Yes, there have been times, indeed

Fri, 10/19/2012 - 11:24 | Link to Comment pods
pods's picture

Ahhh, knukles has perfected what Harvey Penick called The Needle.

Kudos!

pods

Fri, 10/19/2012 - 11:32 | Link to Comment Daily Bail
Daily Bail's picture

Glad to find fellow golfers here at ZH.  Here's a great moment for USA golf.  And the fact that Jeff is a local and a friend only made this more awesome.  Some good photos here, as well.

BOOM BABY! -- Daily Bail Reader And U.S. Rookie Jeff Overton Holes Out From The 8th Fairway (USA Ryder Cup Video)

Fri, 10/19/2012 - 11:41 | Link to Comment nmewn
nmewn's picture

Yeah, I know what you mean...I have to admit I sometimes say things I don't really mean to provoke a reaction or test a theory/belief.

I got a bud of mine who works for the school board. Great guy in every way. Down here Gov Scott signed legislation that made them actually start contributing to their own retirement (the nerve!!!)...a small percentage, around three percent if I recall...instead of the free taxpayer funded ride he had always gotten for decades. It came up at a Hooters before the game we went to in Tampa and he was acting like someone had killed his little puppy dog...lol.

I just looked over at him, smiled and said..."Poor baby"...he knows I work in the private sector and already pay HALF of what goes into my 401k.

He meekly let it drop ;-)

Fri, 10/19/2012 - 12:02 | Link to Comment BooMushroom
BooMushroom's picture

I have an acquaintance who is a schoolteacher who was bitching about not having had a raise since 2007.

I wonder if he realizes that by keeping the same nominal pay rate, that he was getting a raise, since the cost of his taxpayer-provided health coverage increased faster than inflation.

And that even if his pay had been adjusted downwards with the cost of his Obamacare, that his defined-benefit pension and STILL HAVING A JOB puts him in a pretty good position right now.

Probably not.

Fri, 10/19/2012 - 12:18 | Link to Comment nmewn
nmewn's picture

Thats something they never factor in...having a job. They also have no idea (at least until recently) who actually pays for them to have that job.

It used to be "public servants" accepted lower pay and decent benefits as a condition for job security. They have now grown to expect higher pay, excellent benefits AND job security.

Fri, 10/19/2012 - 09:56 | Link to Comment knukles
knukles's picture

And the law of unintended consequences bites again as the Scots will be voting on Independence shortly
Do not mess with a mans golf, putz

Fri, 10/19/2012 - 09:58 | Link to Comment gojam
gojam's picture

Dates are wrong.

1457 ? James II was briefly on the throne ending in 1688 (Glorious Revoltution.) When Will-I-Am of Orange was 'invited' to take over

Fri, 10/19/2012 - 10:03 | Link to Comment Terminus C
Terminus C's picture

You are confusing James II of Scotland and James II of England.

Fri, 10/19/2012 - 10:08 | Link to Comment TrulyStupid
TrulyStupid's picture

Agreed, Scotland and England were separate back then. The kingdoms were united when England recruited James VI of Scotland to rule as James I of England:

http://www.bbc.co.uk/history/historic_figures/james_i_vi.shtml

Fri, 10/19/2012 - 10:46 | Link to Comment gojam
gojam's picture

+1 from me.

You're right. I'm wrong.

Fri, 10/19/2012 - 09:57 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

Do you Know why they call it golf?

 

 

Fri, 10/19/2012 - 09:58 | Link to Comment knukles
knukles's picture

I'll bite
No, why?

Fri, 10/19/2012 - 10:00 | Link to Comment Agent P
Agent P's picture

Because "fuck" was already taken.

Fri, 10/19/2012 - 10:04 | Link to Comment Terminus C
Terminus C's picture

I sure say that a lot when I 'golf'.

 

+1

Fri, 10/19/2012 - 10:08 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

You are correct!!

 

GOLF-Geometrically Oriented Linear Force

Fri, 10/19/2012 - 10:59 | Link to Comment knukles
knukles's picture

Go Out and Look For it

Fri, 10/19/2012 - 09:59 | Link to Comment Agent P
Agent P's picture

My wife has implemented the same ban in our household...apparently she doesn't like staying home with three wild kids while I play golf for four hours...and come home drunk...what a tyrant!

Fri, 10/19/2012 - 10:51 | Link to Comment El Diablo Rojo
El Diablo Rojo's picture

Someone once told me that there is more to life than golf. I think it was my ex-wife.
~ Bruce Lansky

Fri, 10/19/2012 - 10:01 | Link to Comment MelvilleSaysNo
MelvilleSaysNo's picture

fuck golf

Fri, 10/19/2012 - 11:15 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Golf is best when served with beer.

Fri, 10/19/2012 - 10:01 | Link to Comment malikai
malikai's picture

If I were TOTUS, I'd send the drones somewhere and go play a few holes before lunch. Then I'd send the drones somewhere else after dessert.

Fri, 10/19/2012 - 10:03 | Link to Comment nmewn
nmewn's picture

Are lost balls covered under ObamaCare?

Fri, 10/19/2012 - 13:05 | Link to Comment hidingfromhelis
hidingfromhelis's picture

Both Obama and Romney lost theirs a long time ago, so yes it is covered under ObamneyCare.  Are they really lost though, if they're in a jar on some bankster's desk?

Fri, 10/19/2012 - 10:34 | Link to Comment GeezerGeek
GeezerGeek's picture

Golf will never be banned in the US as long as Obama remains king president. If you like golf, vote for Obama! Don't take a chance with what Romney might do!

Fri, 10/19/2012 - 10:02 | Link to Comment knukles
knukles's picture

I saw what you did....

Fri, 10/19/2012 - 10:04 | Link to Comment nmewn
nmewn's picture

I saw it too...but a mans home is his castle ;-)

Fri, 10/19/2012 - 10:35 | Link to Comment GeezerGeek
GeezerGeek's picture

Except when eminent domain is invoked.

Fri, 10/19/2012 - 11:04 | Link to Comment knukles
knukles's picture

Mais oui, nmewn

We must abide by the rules, as guests.
A good lesson for us...
Would be a great lesson for those who thinks they owns the place in which they are tolerated...  The holier that thou rabble would be incensed.

Great lesson in Humility

Blessings...

Fri, 10/19/2012 - 11:28 | Link to Comment nmewn
nmewn's picture

"We must abide by the rules, as guests."

Correctamundo.

I think if he would have waited (instead of hijacking the top) it would have been allowed. He obviously had it sitting there with a copy/paste ready to go (feverishly hitting refresh...lol) waiting for the next post Ty put up...to claim the top.

We are guests in someone elses house and the rules are right over there---->

 

Fri, 10/19/2012 - 10:10 | Link to Comment Variance Doc
Variance Doc's picture

Terrible swing on the picture.  Left arm bent like it's broken, feet pointing all over the place…

Fri, 10/19/2012 - 12:43 | Link to Comment pods
pods's picture

Old style golf swing.

Look at most old time golf swings. Way more movement than today.

Of course they played with hickory shafts as well.  

pods

Fri, 10/19/2012 - 13:37 | Link to Comment edwardscpa
edwardscpa's picture

I spy a Reverse Pivot.

Fri, 10/19/2012 - 10:17 | Link to Comment AldoHux_IV
AldoHux_IV's picture

Soooo what Art is saying is that when the government bans iphones and watching reality tv (ie advertising no longer is a gdp booster) then we'll actually have some semblance of a revoluti--- nay that Honey Boo Boo IS golf.

Give that man a nobe prize in history!

Fri, 10/19/2012 - 10:23 | Link to Comment Bubble
Bubble's picture

Four guys have been going on the same golf trip for many years. This year, Ron's wife puts her foot down and tells him he isn't going. Bitterly disappointed he phones and tells the others that he can't go.

Two days later, the other guys get to the golf course only to find Ron sitting there with a coffee, clubs at the ready. "Dang Ron, how did you talk your missus into letting you go?"

"Well, yesterday evening, after my wife finished reading "Fifty Shades Of Gray," she dragged me into our bedroom, on the bed she had handcuffs and ropes!
 She told me to tie and handcuff her to the bed, so I did.
Then she said, "Do whatever you want."

So, here I am!

Fri, 10/19/2012 - 10:36 | Link to Comment Grand Supercycle
Grand Supercycle's picture

GOOGLE FORECAST:

As mentioned Oct 15 - days before premature earnings release sell off - GOOGLE daily / weekly / monthly charts are overextended & significant correction expected.

http://trader618.com
http://www.zerohedge.com/news/2012-12-24/market-analysis

Fri, 10/19/2012 - 10:42 | Link to Comment Mitzibitzi
Mitzibitzi's picture

Golf - A nice walk spoiled by unnecessary equipment!

 

(Only cos I'm crap at it, of course)

 

 

 

Fri, 10/19/2012 - 12:49 | Link to Comment El Viejo
El Viejo's picture

One good drive or putt and I'll go through multitudes of miserable shots in the hope that there will be another good drive or putt.

Fri, 10/19/2012 - 11:22 | Link to Comment Flakmeister
Flakmeister's picture

For most people golf is like sex, they don't have to be very good at it to still find it enjoyable...

Fri, 10/19/2012 - 11:26 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

The Golfer-in-Chief wouldn't have it any other way.

Do NOT follow this link or you will be banned from the site!