As IF Times

link Markets Start to Anticipate Obama Victory in November – Fast Money – CNBC – CNBC.

This is a classic “as if” scenario.  Despite demonstrable incompetence and ill founded principles offered during the incumbent’s stay in the White House, the narrative is being pushed that the ‘stability’ offered by the Obama reign is somehow benign for the financial markets.  Only those who are still subscribing to the tooth fairy fantasy; those that are on their 3rd hit of the bong or those from California could possibly subscribe to this delusion.

The fact is, markets are anticipators of events, usually 6 to 8 months into the future.  For example, when the stock market suffered the massive swoon in early 2008, it was partly in anticipation of the Democratic victory in the fall of that year.  While the write downs in bank and mortgage valuations did substantiate the big selloff, it was the anticipation of a incoming regime that was expected to be unfriendly to markets that started the cascade.

At the moment, the Republicans are almost finished with their circular firing squad process of vetting their candidate to oppose Obama during this year’s November elections.  It appears that the presumptive victor, Mitt Romney will prevail and consequently, an experienced and capable economic individual will resume control of the Presidency.  It is more likely that this assumption is the scenario causing  the markets to advance.  To subscribe to CNBC’s version of reality is to assume that people have come to accept and embrace out of control spending, skyrocketing deficits and a sure but steady neutering of America’s economic and social system.  In other words, they assume that people have thrown up their hands and accepted that the U.S. will become Greece, Portugal or even worse, California.

While of course people will always adjust to whatever reality is thrust upon them, it’s a stretch for anyone to claim that the financial markets are stabilizing ahead of an Obama victory.  It’s as if someone chose to go back to eat at a particular restaurant after becoming violently ill when they last ate there.  It’s the logic of  ‘the devil you know’.  Sounds like spousal abuse to me.

link AFP: Kims 11-ace debut round recalled on Twitter.

This is all about lack of respect.  A guy scores 11 holes-in-one, on the very first time playing golf and yet the world is largely indifferent.  This feat was witnessed by no less than 17 of his personal bodyguards, so it must be true.  While other so called pros manage to finish perhaps 1 or 2 under par in any given tournament,  their exploits are considered heroic.  I don’t recall any kind of coverage of Kim’s feat on the Golf Channel and certainly no pro to my knowledge has paid any respect to this accomplishment.  Makes you wonder about the bias of the western media.

As we know by now, “Dear Leader” as Kim Jong Il was referred to by his subjects, passed away at the too young age of 69 just the other day.  The importance of Kim to his people as the spiritual and political leader was clearly demonstrated by televised footage of massive demonstrations of inconsolable grief by scores of women broadcast  for the outside world to see.  It’s possible that similar outpourings of grief may also be found in the golfing community, but video just hasn’t surfaced.  Nevertheless, to his faithful and his community, the 5 foot-nothing leader was a giant in his exploits and his life.

But Kim was not just a capable golfer, that was just one of his sideline pursuits.  Kim was much too busy doing important nation building things such as, subjugating his own people, exposing them to starvation and random torture and detention.  There was also the delicate task of sabre rattling in order to make sure everyone paid attention to his latest rants.  There were missiles to be fired off to the south, nuclear weapons to build and people to enslave.  Oddly, these kinds of activities are admired by many, even outside of his own culture.

In other parts of the world, many lesser types were doing exactly the same thing, except that they were getting all kinds of attention and adulation.  Che Guevara, Fidel Castro and even Hugo Chavez have managed to draw as their ardent admirers, prominent actors, writers and journalists breathlessly and romantically describing their struggles for their people.  Kim had the misfortune of being short, pudgy and comical looking whereas guys like Guevara and Castro had beards and looked the part of the valiant revolutionary.  It’s hard to portray an Asian Elmer Fudd as a romantic hero I guess.  At least Cuba had the respect to fly their flags at half mast in respect of their kindred dictator.  It was Kim’s unfortunate fate to be physically unimposing and not have as his native tongue, a classic romantic language.

In the USA,  a backbench senator arrives from nowhere and vaults into the highest position in the world.  Before even passing one piece of policy during his first few months  in office, he is awarded the Nobel prize for peace!  Now that’s impressive.  Not 11 holes in one impressive, but impressive.   As of now, he’s even staking the claim to be among the top 4 presidents in history, sounding like the kind of claim Kim would have made, if only he had the support of a fawning press.  It’s possible that all this swooning over Obama drove Kim mad and may have even caused his heart failure.  Obama takes up golf and plays like Urkel whereas Kim gets 11 holes-in-one on his first outing, but Obama gets the Nobel!?  Obviously, everyone else had a better media team than departed Dear Leader.  Did I mention he was also a bowler?