Bill Bonner – Bill Bonner’s Diary (United States) –
One group of “heretics” argued that there was no such thing as “original sin.” Another denied the trinity. And another claimed Jesus was not divine. Which one had the truth?
Not waiting for divine revelation, they fought it out in the streets… in wars and mass murders. Heretics were persecuted, tortured, and burned at the stake.
Our subject this week is the elusive nature of truth. And today, we toy with it… We try to tease it out of public life.
Heresy or Truth?
“The seething resentment and unhinged attacks of what is rightly called ‘fake news’ have reached unprecedented levels of irresponsibility and dishonesty,” says Newt Gingrich, a man with more than a passing acquaintance with fakery.
But wait. He goes on to say that this unprecedented attack on fake news has been directed “against President Trump – because he is determined to pursue an agenda which benefits the American people instead of the establishment elite.”
Heresy or truth? We don’t know. Sometimes, there is no truth to tease out.
Remarkably, Mr. Gingrich claims insight worthy of the Grand Inquisitor Torquemada, reaching beyond the physical world into the president’s “determination,” not just his words and acts.
Even more remarkable, he claims to know that Trump’s policies would “benefit” Americans. How does he know that? Harvard economist Peter Navarro says they would.
Walk into the economics department in Cambridge and you will find a dozen others who say they won’t.
They might as well be arguing about the Virgin Birth.
Mr. Gingrich has jumped in with both feet. He is not merely commenting on the vast pool of fake news… He is splashing around in it.
The mainstream media… commentators… politicians… do-gooders… left and right – all frolic in the same swamp. And heck, we’ll jump in, too. As near as we can tell, the Trump administration poses no threat to the establishment elite.
It’s promised $54 billion more to the military… almost as much as Russia’s entire defense budget.
As for the Obamacare reform of which Trump is so “proud,” one analysis shows it adding a trillion in extra costs to the existing system.
But what is the “truth?”
The jesting Pilate did not even bother to stay for an answer. But we are more curious.
In preview, what we will discover is that “truth” has little to do with this kind of chatter; in public affairs, it barely exists.
A Simpleton’s Universe
Meanwhile, news comes that Maryland has slipped in Bloomberg’s ranking of the states based on “gender equality.”
Bloomberg adds a companion report that the Trump administration is hiring “three men for every woman.”
Already, we can feel the greasy water dripping from our skin.
“Gender equality?” We all know the two sexes are different. If they weren’t, we’d only have one sex… and about a million fewer jokes… half our libraries would be empty… and the internet porn industry would be left as limp and flaccid as a joint session of Congress.
What shallow and depressing lives these people must live!
Such a simpleton’s universe, with no art, no irony, no genuine sentiment, no real emotion or authentic beauty. All they have are numbers, measuring quantity… and leaving out the important parts.
Imagine one of these poor dumbbells when he tells you he has fallen in love.
Why? “She is 5’4”, weighs 112 pounds, and has an IQ of 125,” he says.
“Is that all?” you ask.
“No… her body temperature is 98.6.”
A human being can recognize thousands of different faces – each with its own story of heartbreak, betrayal, love, and joy etched on it.
A competent chef can whip up an infinite variety of dishes… each with its unique flavor… from hundreds of different ingredients.
But a world improver has only 10 digits to work with, which he piles up like lumps of Limburger cheese… adding one to another, in a bigger and bigger heap, and not noticing that the whole thing stinks.
“How many women are on corporate boards?” he asks. How much does the average woman earn? How many women has Trump hired?
Why not ask: How much joy does a woman get from doing what no man can – having a child?
She also lives, on average, six years longer than a man; how much is that worth to her?
Tiresias, the blind Greek prophet who was transformed into a woman for seven years, said he even got more pleasure from sex as a woman than when he was a man. How could the world improvers equalize that?
You Can’t Measure “Better”
Bloomberg goes on, with no trace of self-awareness or hint of much-needed sarcasm:
Diversity “leads to better problem solving, better outcomes and in some cases better financial performance,” said Brande Stellings, vice president of corporate-board services at Catalyst, a nonprofit organization that promotes women in the workplace.
Ms. Stellings doesn’t fall into the swamp of false knowledge. Like Gingrich, she jumps in, confident that her prejudices will buoy her up. And she sinks.
Is she saying that if the Wehrmacht had had more women field marshals, it might have won WWII?
If there had been women priests aiding Torquemada during the Inquisition, would the heretics have been exterminated faster?
“Better problem-solving?” “Better outcomes?” Are you kidding? How would anyone know? “Better” is qualitative; it can’t be measured with numbers alone.
Besides, how can you promote diversity and equality at the same time? Wouldn’t a diverse society be one where, well, the sexes were not equal? Equality suggests a lack of diversity, not more of it.
Again, it is not that the drive for equality is untruthful… It’s just that there is no truth in it. It is public information, where all the facts are alternative and all the news is fake.
We have a friend who has managed to mock the whole business…
In Europe – perhaps in the U.S., too – the push for gender equality and “transgender” rights led governments to allow citizens to choose their own gender. The mischief in this fantasy went unnoticed by almost everyone, but not by our friend.
One of the legislative diktats designed to encourage gender equality required that corporate boards have at least one token woman on them. So our friend declared himself a woman. No operations or drugs were necessary; he was a woman simply because the law gave him the right to be one.
And now his business has a “woman” on its board. Problem solved.
The legislature, in its wisdom, passed the law. The law now says he is a woman. So there can be no doubt. He is a woman.
Women are equal to men, said a further law. So now he is equal to a man in every way. Even the essential ones.
P.S. We’ve spent the week talking about truth, but our usual beat here at the Diary is money. How it moves. Where it goes. And why. As for putting more of it in your pockets… well… we leave that to longtime friends and star analysts like Chris Mayer and Jeff Brown.
And today, we want to introduce our newest colleague, Jeff Clark.
Your editor may be an old fuddy-duddy when it comes to investing; Jeff is not. Your editor is a very long-term investor; Jeff is a trader. And very different from our Diary‘s “big-picture” view, Jeff believes you can spot short-term trading opportunities by studying the numbers alone. In the following “Investing Insight,” we invited Jeff to show you how he finds a good trade.