Friday, January 11, 2013
banking with bureaucrats
capital is infinitely flexible and adaptive with the "invisible hand" relentlessly regulating market mechanisms to keep supply and demand in equilibrium...that's why economists and their technocratic creatures accountants are so vital to the smooth functioning of the system...can't tell the players without a good set of well kept books...right? sure...and this is why on this balmy, climate change driven january day i find myself in receipt of a $0.28 check from j p morgan chase...drawn on the "disbursement clearing in trust for various mortgagors and various investors" division from columbus ohio...no doubt a few pennies that got misplaced in the whole payoff transaction business...let's see here...$0.45 in postage ( already the bureaucratic forms have cost them ) then there's the envelope and the cost of printing the check...and some low-level drone had to stuff it in the envelope and the sign off on a check sheet saying it had been stuffed...and then it had to be put in the mail and trans ported form ohio here to indiana and then stuffed in my mailbox by another bureaucratically controlled civil servant...this is becoming an expensive twenty-eight cent check and we haven't even gotten to the cost of cutting the tree, transporting it, pulping it, and rolling it into rolls which also had to be transported to some check paper printing and perforating the damned stub facility...yep...capital is flexible and knows how to adapt...no worries about the balmy january day or depleted resources or carrying capacity overshoot...they have the mentality to bring it under control.
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