Category Archives: Hinduism

Unity in Diversity

250px-Burghers_michael_saintpolycarp

Polycarp of Smyrna

Former Canadian Prime Minister Lester B. Pearson, or LBP – not to be confused with U.S. President LBJ, dominant Japanese political party the LDP, or women’s wardrobe staple the LBD – once obscurely remarked that Canada needed to maintain a “unity in diversity”. (I’d’ve written “famously remarked”, but let’s be realistic, it wasn’t at all famous or notable… :) )

The phrase came to mind in early April, after the Liberal Party won a majority in the Quebec provincial election, the Parti Quebecois suffering a substantive-enough defeat that we probably won’t have to worry about the separatist movement for another decade or two. And hopefully we soon reach the point where the overwhelming majority of Quebecers perceive their culture as being inextricably woven into the Canadian fabric.

That’s right, I started making mental notes for this, five full months ago! Long enough for an even bigger separatist movement in Scotland, to suffer a much lesser, much more recent defeat…

It’s pretty cool to think that the colonies of two rival imperial powers (Britain and France) decided to work together, building bridges between their cultures. Even if they did manage to forget the contributions of the First Nations along the way. :) And Canada’s even young enough that we can identify many of the key individuals who helped make it happen: people like Louis LaFontaine and Robert Baldwin, John A. MacDonald and George-Etienne Cartier, one out of four of whom is famous enough for most Canadians to know their name. :)

It’s all the more impressive, considering that politics is second only to religion in its ability to divide otherwise like-minded people. And that got me wondering, if the live-and-let’s-live-together creation of Canada is a silver medal, what would be the gold?

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Putting the “X” back in Xmas

Xtians began using “Xmas” 500 years ago, since in Greek, X is the “Ch” in Christ

Around the holidays, some people (not to name names or anything) urge modern society to put the “Christ” back in Christmas. There’s much to criticize about the hollow vacuousness of consumer culture, after all. Most of us can buy into the idea of better treasuring time with family and friends; and who’d oppose charity and compassion for the less-fortunate? (Well, apart from that strangest of philosophical tribes, the Objectivists, that is…)

Heck, the leftists among us might even be open to the Christian idea of a 100% marginal tax rate, on assets — that whole “tithing” thing is so Old Testament ;) – which is backed up by the fact that Jesus’ early followers were basically communists! (Admittedly, it’s easy to give up private property rights when you think the world’s about to end…)

Unfortunately, some misguided folks want to put the “Christ” back in Christmas, because they think “Xmas” is a part of some sort of secular war on Christmas. If there’s any upside to this, it’s that secular humanists are the new scapegoats of Christian demagogues. After nineteen hundred years, the Jews finally, finally catch a break! Hallelujah!  :)

In Greek, “Christ” is spelled with an X

This is all very strange, since it was Christians who started using “Xmas” in the first place. Five hundred years ago. And followers of the faith used X (and/or Xp) as an abbreviation for Christ, an additional twelve hundred years before that.

They did so because the Greek word for Christ — Χριστος — starts with the Greek letter chi, which happens to look like an “X”. And Greek is the language in which the first Christian scriptures were written, and in which the faith was first widely proselytized. (To be rigorously accurate, some portions – the Lord’s Prayer and various figures of speech – seem to’ve originally been Aramaic.)

So the real question is why these commentators would want to take the “X” out of Xmas; for today’s Christians, its presence would visually affirm a continuity with the Greek-speaking communities where Jesus’ gospel was first preached, two thousand years ago, and where the religion’s scriptures were written. How cool is that?

Orthopraxy vs. orthodoxy

I do wonder of why Buddhists, Hindus and others just don’t seem to get as worked up about these kinds of things. And my impression could just be because I’m less familiar with demagogues from those traditions.

Still, I get the sense that in eastern traditions, anger and outrage are regarded as unhelpful, if not outright harmful. For all the crimes of the Chinese government against Tibetans in the past half-century, exiled Tibetan Buddhist monks don’t seem to have an “anger button”; they tend to express their distress and condemnation in astonishingly measured tones.

One difference between the major western Abrahamic faiths and the big eastern Dharmic faiths, is that the latter tend to be orthopraxies – they emphasize correct practice – while the western ones tend to be orthodoxies, emphasizing correct belief. I can’t help thinking that may have something to do with it.

If one has adopted a set of spiritual beliefs – an orthodoxy – there’s always the risk that new scientific knowledge could undermine them. Learning that the universe is billions and not thousands of years old could cause a fight-or-flight response in some people, leading to the bellicose annoyance and self-righteous indignation so commonly heard in the words of some conservative religious leaders. Especially if they think such beliefs are all that separate us from the nightmare of Hobbesian anarchy – an unending war of all against all.

But if one has adopted a set of spiritual practices – an orthopraxy – then scientific findings which invalidate their rationale and justification, might be inconsequential. If one is becalmed by meditation, and it seems to serve one’s community, so what if the universe is fourteen billion instead of one hundred and fifty five trillion years old?

Even so, there’s no doubt there are Buddhist and Hindu demagogues, just waiting for the chance to corrode the public discourse in their own home countries, as religious conservatives have done over here. ;)

It’s probably safest to say that we in the West have simply been lucky enough not to have heard of them, because a Fox News-type empire hasn’t given their televangelism and/or megatemples a worldwide media platform. Yet.

Wiki-immortality!

APSC150 speech

My August Canadian EV car sales stats update went up recently. Which was cool.

Cooler still, I had a chance to wax poetic about sustainability, and my new-found optimism that we’ll avoid the worst of our dystopian horrors. I was invited to be a guest lecturer for an engineering course at UBC (APSC 150) where I had the privilege to slightly shape the minds of about four hundred first-year students. And show them how, here in the first world, #WeAreWhales. (The cryptic comment is described in the slide deck, here.)

Coolest of all, I’ve achieved a Wiki-immortality of sorts! I’m a Wikipedia footnote in the Tesla Model S article! Or, rather, one of my older GreenCarReports columns is. The one describing the vehicle’s Canadian sales figures for the first half of 2013. :)

Wiki Klippenstein

Of course, Wiki’s being the infinitely editable sites that they are, my fame will well be fleeting. Which brings to mind to Hindu parable of Indra and the ants, whose punchline was once majestically translated as “former Indra’s, all“. :) For all our works and purpose, pride and presence, in time’s great fulness we are all returned into the Void from whence we came.

Bankers uber alles

A few weeks into a planned three-month stint as a full-time parent, I’m amazed at how much less time I have; the only breaks I get in the day, are when our son naps! In contrast, I could reliably eke in minutes here and there throughout the workday; if I had a meeting in four minutes, or was waiting for a kettle to boil to refill my tea, I could whip out a paragraph or two, no problem.  You could think of it as the typing equivalent of the scam in Office Space where the heroes skim a half-cent off everyone’s hourly wages, into a slush fund.  The movie referenced Richard Pryor pulling the same scam in Superman 3, a movie with which our elder (or less-hip) readers may be more familiar.  ;)

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There was a recent IMF study not too long ago which concluded that a too-big financial sector was an impediment to growth.  The explanation is that when the financial sector gets too bit, it causes the misallocation of capital.  Which I’m guessing, based on recent experience, is code for “derivatives” and other highfalutin forms of gambling.

One sign that more financial innovation is worse-not-better, come from high-frequency trading algorithms — an example of which is the software “glitch” that caused Knights Capital to lose $440 million in 45 minutes last week.  And that wasn’t market capitalization, that was basically cash-on-the-books!  :)

High-frequency trading algorithms have flourished in the past few years, as under-regulation made way for un-regulation.  These enabled financial behemoths to make huge trading profits virtually every day, off of their customers, by “front-running”.  Which, as I understand it, is a fancy way of saying they inserted themselves as middle-men into every trade.  HFT is defended as the latest in financial innovation, which is a like saying bridge tolls are the latest in automobile technology.  ;)

HFT algorithms submit bids-to-buy and offers-to-sell hundreds of times per second (see here for pretty graphs) in various patterns to determine exactly what price sellers and buyers are seeking, and are willing to accept.  The bids and offers would be near-immediately cancelled, because the investment banks had no interest in actually following through with them — for all intents and purposes, these were fake bids and offers.  (Which would make HFT trading a form of quote-stuffing.)  The brokerage firms would then run-in-front of the buyers (hence “front-running”) to buy the stock first, then immediately turn around and sell it to the other buyers for just a bit more.  The other buyers, in many cases, being the brokerage house’s clients.  How does that saying go?  “Do unto others before they can do unto you”?  :)

Putting it in real-world terms, if a mutual fund wanted to buy a million shares of BigCorp at $10, but were willing to pay $10.05 per share, in an earlier era they might have gotten an average price of $10.02.  Thanks to HFT front-running, their average price might be in the whereabouts of, say, $10.025.   As the guys in Office Space proved, getting a fraction of a cent off of zillions of transactions, can be really lucrative!

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The usefulness of a big financial sector may actually get some discussion in this year’s US elections, since Mitt Romney made his fortune as a financier.  His company, Bain Capital, would purchase companies, loot everything of value, then shut the doors.  Kind of a profit-through-bankruptcy model.  Romney was caught a few months back saying “corporations are people”, inspiring Stephen Colbert’s SuperPAC to air an ad comparing Romney to a serial killer (Mitt killed a lot of companies; companies are people; therefore Mitt is a serial killer).

Of course, Colbert is exaggerating for effect.  :)  Romney wasn’t so much a serial killer, as a guy who bought people and turned a profit by selling off their organs; if they died, that was unfortunate, but… hey, wait, that meant there would be more organs to sell!  It’s a kind of “the sum of the parts is greater than the whole” philosophy.

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It’s well-known that Romney is a Mormon; and congratulations to those guys for getting one of their own on the Presidential ticket.  Despite this, I think Hinduism is the most illuminating lens through which to understand the Presidentially-aspiring Romneys.  (Mitt’s father George tried to get the Republican leadership nomination in the 1960’s.)  While George Romney led a car company, American Motors, that created jobs and prosperity for employees and suppliers alike, Mitt Romney was a corporate raider whose company, Bain Capital (fitting, that) would buy other companies, extract the wealth, and let them go under, causing misery.

Applying a Hindu overcoat to the Mormon Romneys, we might say that George Romney was the Brahma (“the creator”) to Mitt Romney’s Shiva (“the destroyer”).  ;)

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As an appended aside, the fact that Bain was allowed to continue doing what it did, may reflect the fact that for the past generation the US has followed a policy of deliberate deindustrialization in favour of a service economy.  Pity then, that too much finance isn’t good for you, eh?  One definitely gets the impression that industry in Germany, other European countries, and Japan remains healtheir than in the Anglo-capitalist countries have (US, UK, Canada, Australia).)

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Still, the foibles of Knights Capital, Bain Capital, and even HFT front-running, are beer-league infractions compared to the scandal surrounding LIBOR — the London InterBank Offered Rate — which investment bankers have been manipulating to their benefit since 1991 or earlier.  That’s so long ago, the Soviet Union was still around!!

Just as the central bank’s prime rate is the reference rate for mortgages in many countries, LIBOR has been a reference rate for probably trillions of dollars of loans and investment products (“interest rate swaps”) over the years.  So LIBOR manipulation is a Very Big Deal — conceivably, in a just world, every affected party could sue for damages.  And according to Matt Taibbi, the floodgates may have started

Fortunately for those involved, we don’t live in a just world, and the principals involved seem as likely to go to jail, as the Washington Generals are, to beat the Harlem Globetrotters…  :P

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The acknowledgement of LIBOR manipulation gives credence to gold enthusiasts’ long-held insistence that gold prices are also manipulated.  Of course, given that prices have gone up five-fold in 12 years, it can be hard to feel empathetic.  ;)  There’s also the reality that the world is ruled by is’s, not should’s.  Enbridge might think the Northern Gateway pipeline should get built; whether it is built, is another thing entirely.  Titans and insiders should play fair, but alas, in life, that’s not the way to bet.  :)

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The chart which probably best shows why gold bugs have been up in arms for years, is the following.  It shows daily price movements, on a percentage basis, over the course of four years (from 2006 to 2010).  Visually, you can see that in each two-minute span, prices generally move a maximum of about ± 0.004%.  Except for one wee anomaly at -0.018%.  Which occurs exactly when markets close in London.  Where brokerage houses have been coincidentally manipulating LIBOR for the past twenty years.  Smoke, meet fire; fire, smoke.  ;)

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I don’t think such price charts follow a “normal distribution” as defined by statistics, but if for our purposes we pretend they do, and we assume that one standard deviation is ±0.003%, that would mean 99.7% of the data would fall within ±0.009%, which looks roughly right.  This would also mean that the -0.018% datapoint represents six standard deviations, which screams “special cause” as opposed to “nothing to see here, but normal variation”.

I can’t pretend to know these apparent chicaneries’ intricacies, but it would appear that gold has a habit of dropping violently on options expiry dates, when extraordinary quantities of the stuff seem to enter the market.  Adding to the sense of Something Very Awry, the CFTC may apparently drop a four-year investigation into price-fixing in silver futures, without publishing their findings.

Still, for all of that, it would seem the precious metals will continue to be a reasonably good investment class, at least until stocks’ P/E ratios reach “end of bear market / start of bull market” territory.  After all, if years of possible manipulation can’t stop a five-fold rise, how likely is it to prevent further increases going forward?