Unfortunately, a news story crossed the wires this weekend that argues the contrary case.
I refer to the report that in the UK, a group called The Investment Association is arguing that regular, quarterly, investment performance reports to shareholders should be abandoned.
Oh, it’s OK…trust them:
Here’s the gist of the argument: If Boards of Directors have to focus on “hitting their number” all the time, can they really take the longer view of running the company?
Not possible according to these bozos.
In other words, aren’t there times when strategies in the short term are the wrong thing for the long term?
They princes of finance in the UK argue this should be so. So to hell with checking our work on a regular basis in any detail.
Now, before we get completely wrapped around the axle and order mood altering drugs for breakfast and shots of Thorazine at 4 PM instead of High Tea, this is just a first press report.
On the other hand, it seems credible enough because there has been a general trend not only in government, but among both organizations (and people at large) to avoid commitment and instead counter with the increasingly familiar Trust Us.
From our here in the boondocks of East Texas, we have evolved an odd view over the years that the Whole Planet Earth is going through an evolution of consciousness that is not unlike that which children go through in the birthing and raising process.
A child is born.
That would be the the macro planet crawls out of the mud stage.
A child learns to walk.
That would be the age of exploration. This included people traveling all over the world and “discovering” other lands and such. And then, very much like a spoilt brat-child claiming it is “Mine!” even though the land clearly was occupied by First People.
To be sure, we are supposed to be past this global exploration and claiming part of childhood, but it continues today.
We see the ISIS people doing it as they are on a global expansion and claiming kick, also known as the Global Caliphate.
We see this as China is dredging up large areas around some offshore reefs and is laying claim to them. This involves a similar amount of work that they put in to the taking of Tibet.
Then there is our own country. Which has already done huge claims and is trying to optimize the maintenance costs – as we try to shove funding for NATO off and as Obama, et al, are trying to do a “Nixon does China” as “Obama does Cuba.” We’re helping (ourselves) in Afghanistan and Iraq was for what, remind me?
So you can see we aren’t learning the next part of childhood well, at all.
Socialization hasn’t worked, either, as a home study course..
Two – and arguably three – global wars with a fourth one potentially due in the mid 2020’s.
The Biblical part of “the meek shall inherit the Earth” may be seen as a hint that the meek will be those not big enough as a haplotype to bother developing a DNA-targeting killer-germ to eradicate with Nazi-like precision.
And this gets me to the matter of periodic reporting. Accountability.
The problem is more complex on a planet where the Parent – who hasn’t been home in 2,000+ years – if there was a parent in the first place – is at least guilty of Child Abuse.
If there was a Creator stage, we are about at the juncture where a fair question is to ask “Is leaving us on the Rock and forcing us to work it out, some kind of ultimate parental Tough Love, or at what point to we shade over in to leaving the kids locked in the car on a hot day, windows rolled up, on a hot day, with a gallon of gasoline and a couple of books of matches?”
These are not questions hard-core religionists like people asking. They have been proffering “trust us” to the masses for two millennia. And when their promises don’t show up, along comes a camel-friendly, oil-rich counter-group (which is entirely male-dominated) to make another pitch but along the same lines.
From a software engineering perspective, this is a design pattern.
Like a child, the world has learned to speak, as well. First in print, then on radio, television, the Internet, and now streaming. But it hasn’t been used for effective introspection and massive personal development, at least insofar as I can figure it.
Instead, yet-another faction – the rich bastards – are planning to come out and say “Trust us to do our homework – we are not children. We are grown-ups who can be trusted.”
This is one of the finest examples of childishness you will witness in your lifetime. “We are SPECIAL, we are SELF ACCOUNTABLE, we are TRUST US.”
When companies ANYWHERE argue for less accountability – instead of more – they are seeking to hide their actions by wrapping it up in time and lies.
And that, fellow adolescent human, has – according to the historical data so far – been a horrible idea.
Since it never works out – and is part of the ongoing subversion of the already weakened moral fiber of humans, on this fifth wave up of the markets – if that it what it becomes, consider where and how to invest in non-fiduciary aspects of living. Food and water independence comes to mind.
Because a band of liars will be coming to America, next. And they will be asking you to do something directly counter to common sense and historical precedent.
Oh, and if you hear directly from The Almighty, you might mention HIS quarterly parenting report is about 1,000 years over-due.
Trust – but Verify. It’s what your brain’s for.
Unless you’re in the land of kneelers – the UK – that is.