The Hindu trinity and the separation of powers into legislative, executive and judiciary

The Indian trinity consists of Brahma, Vishnu and Shiva. Brahma, the creator of laws, is the legislative branch. Vishnu is the executive branch of the government. Shiva is the judicial branch of the government. Brahma has only one temple left. The legislative branch loses all it's power over time. Shiva, the judicial branch, retains some influence. But it is the executive branch or Vishnu that emerged as the most powerful deity over time. An interventionist Vishnu took incarnations of different animal and human forms and tried to set things right. But that did not prevent the kaliyuga or dark ages from happening.

As the American democracy matures, these are things to ponder over.

Surveillance state no longer a conspiracy theory...........

http://www.youtube.com/watch?v=UL8q0xv8gUY

Wasn't in 1984 but in 2014. Welcome to Obamanation where Snowden goes to jail but Corzine goes free.

Every post (including this one) is being recorded for eternity by NSA. And google, yahoo, facebook, apple, microsoft are all involved.

In Cyprus, bond holders made whole but not insured depositors

More evil solutions in Cyprus

Ordinarily, you would expect shareholders to be wiped out first, followed by preferred shareholders  and then bondholders. And only then should uninsured depositors be touched. The insured depositors should pay only when the insurance provider becomes bankrupt. Or at least, that is what the law was before the weekend. But in socialism, the only law is what a dozen bureaucrats decide to do.  Is it also possible that the German and French banks sold CDS on Cypriot bonds? And they do not want to pay. So, eurocrat socialists will just make up the new laws as they  help mega German and French banks. Ordinary Cypriots are paying for it. 

Of course, there is always a law of unintended consequences. There will be bank runs all around the Southern Europe and a lot of scared money will be flocking to USD.   US markets may hold up a little longer as it absorbs capital fleeing from the evil clutches of Brussels. 

ISDA gets some sense and says CDS will trigger

ISDA Says Greece In Default, CDS Will Trigger

Finally, ISDA gets some sense and states that Greece has defaulted and CDS will trigger. It was obvious to everyone else that any other ruling would have shut the CDS markets down as I had blogged recently here ISDA insults our intelligence.

Cyclical Bull is still riding high

The cyclical bull is not over yet. Money managers who learnt that they have to side step the cyclical bear in 2008 are like the generals fighting the last war. They will have to come back into this market and this will take the market a lot higher.
Bulls will get to do one more victory lap. And after that, it will be all over. The cyclical bear will take time to form and will be very slow but brutal. So, time is now again to trade momentum but keep taking your profits.

Why is Jon Corzine not in Jail?

MF Global stole hundreds of millions of dollars from customers. Will Jon Corzine go to jail? No, he is well connected. He is doing fundraisers for President Obama. Will anyone go to jail for Solyndra? No, they are well connected. Will anyone resign in the US govt. for supplying deadly weapons to the Mexican drug cartels? No, they are well connected.

Occupy Wall Street communists are angry with the rich. For them, it does not matter how the 1% became rich. Did they steal customer's money like Jon Corzine or did they become rich through honest work like Steve Jobs? It does not matter to the Occupy Wall Street. They only understand rich versus poor. They do not understand honest versus dishonest. How long will a society survive with such morals?

Where is the rage against Jon Corzine?

ISDA insults our intelligence

Why is a 50% haircut for Greek debt not a credit event? ISDA can think that we are all idiots but markets know better. Sovereign CDS markets will be shut down by the markets and interest rates on bonds by weak European countries will rise. The euro-crisis is about to become much worse. The whole thing would have been so funny if it wasn't so tragic.