It come a-gusher!

In Merreye Olde, a big-time oil trader named Steve Perkins got smashed, went back to his office and bought about seven million barrels of oil -- price be damned. It happened in the wee hours and woke the snoozy overnight oil markets with a collective WTF?.  Reactive panic strained global order desks.  "Buy, dammit, buy!"

International  oil prices spiked. The market didn't calm until it became apparent that one of the Masters of the Universe screwed up while in a well-oiled state. Steve's company lost millions. He was fired, fined, and invited to seek another profession.

It happened about three years ago, and I didn't catch why it is again timely enough to rate a mention on CNBC this morning while I was trickling charging my nervous system with the first cuppa. But I'm glad it did because it reminded me to be pissed at the lunacy of rational markets when they come under control of irrational men.

It seems to me that there are about three ways to become irrational. One is to be born stupid. Another is become ignorant, generally through intellectual laziness. The third is to get drunk, either on a nice single malt or on daydreams of personal power and riches -- or both.

Now: Since TMR readers are men and women of lively minds who are quite comfortable making logical connections between seemingly disparate events,  it is to be expected that some of you will read about oil hustler Steve of perfidious Albion  and think about money hustler Ben of our own Federal Reserve System. One shrieks "Buy!" and the other howls "Print!" Each in his own way turns the economies of the world into a game of seven-card no-peek stud played by nincompoops with a deck of 51. Or 53. Everything wild except deuces, jokers, and one-eyed jacks.

I don't feel like typing a long rant on confluence of these lunatic notions, but if you care to, you have my full endorsement. Personally, I'm off to pursue more immediate challenges related to distorting world oil markets by splitting and stacking a fresh load of sustainable, renewable biomass.

I will, however, leave you with a reminder, courtesy of Mr. Grey:  "Any sufficiently advanced incompetence is indistinguishable from malice."

International macroeconomic query

I'm not getting enough free stuff and wondering if it is okay to go out to the road and protest just as I am. Or do I have to learn to speak Greek or Spanish first?

How to write a roadie report

A small sample from John MXL,  just back from two-wheeling the Appalachian wilds:

My seat is approximately 47 years old.  The bike's seat is approximately 22 years old.  Before the next long trip one of them is going to be changed.  I'm betting on the bike seat.

Wish this man would post more.

The morning mail

I've never  registered as an official RNC alumnus, so I don't know how I got on the has-been mailing list there at the Eisenhower Center. Maybe they checked old expense accounts. Maybe they dug into the bar tab archives at the Capitol Hill Club (good place to have a drink with guys in nice suits and the cute interns they brought). 

Anyway, they found me and figured out that, as free help, I might pump the Romney GOTV drive by a vote or two.

Friend,

Every phone call and door knock is crucial to achieving our success...

As alumni of the Republican National Committee, you're fully aware of how important volunteer activities are to achieving our goals. And that's why we're asking for your help ... Over the next six weeks we need to reach out to as many potential voters as we can.

We appreciate your support!

Thanks,

Reince Priebus
Chairman, Republican National Committee

It's nice to be remembered, Reince, and I share your distaste for His Ineptness the President. But no, thanks.  Because Mitt, among a few other little things which don't really add up to a GOP interested in small government, free markets, foreign-adventure restraint,  or individual sovereignty. 

Best,

Jim