We could live beside the ocean
leave them far behind
swim out past the breakers
watch the world die.
-Everclear, “Santa Monica”
Russ and I went down (up? over? out? – I have no sense of direction in LA) to Santa Monica yesterday and wandered around this open-air mall area near the ocean. We had a good time and caught some sun, but I was also sort of overwhelmed with the sense of impervious obliviousness of the people of Southern California. I had a hard time putting a precise finger on what was befuddling me, but I had a strong sense that a meteorite could have landed nearby and no one would particularly pay attention. A combination of intense absorption in one’s own world with general apathy to everything.
This then sparked a debate about LA apathy vs. NY apathy and Russ defending NY as an insider, which contrasts with my general perception of NY as an outsider. Place puts a real filter on the way one perceives what’s going on, though. This is not a new concept, but it can be startling to see (really feel) it in action. If nothing else, the Bay Area feels very raw and exposed. It’s as though there’s a bubble or force-field around LA that shields it from everything, while the Bay Area just feels completely open to whatever’s going on, if not actually having a magnifying glass bear down on it for extra fun.
But watching the stock market revel this morning, I get the sense that my bubbly feeling in Santa Monica was enhanced by a larger denial rippling all over the place. The ostensible reason being proffered for a return to 8,000 on the Dow is the impending demolition of mark-to-market accounting, which you can find under “accountability” in your financial dictionary. Without this rule, the same financial geniuses who created our current economy would be freed to attribute whatever value they wanted to whatever assets they have. Keep in mind that this entire mess is largely attributed to a massive bubble, followed by a period of uncertainty sparked by not knowing how much someone’s holdings are actually worth. Now you’re trying to cement a reality where we bubble up in positive reaction, followed by a world where everything is valued by unconfirmed self-perception? Really?
If you think people lack confidence now, wait till absolutely everything on the balance sheet is measured by optimistic, self-interested accountants! Sure, this house could go for a million if everything transforms tomorrow. I mean, there’s no evidence that this Ken Griffey Jr. rookie card will ever be worth six figures, but if I value it at that price, why not give me credit for same? Don’t you want to invest in my outfit that has access to millions, nay billions, because of a stockpile of baseball cards, used books, and cat litter?
It makes sense as a reaction to a world where currency governs most everyone’s life and currency is manufactured out of whole cloth (literally) by the government at their random and manipulative whim. It is the perfect answer to a country spinning out of control in its own realization that it has no idea what anything is worth, what anything even means anymore. It’s a little like the whole place just became LA. Put on your sunglasses, get gussied up, and let’s go pretend everything’s fine. Bring the credit card and the substances, for tomorrow we die.
This may be a weird time to mention that I won $781 in an online poker tournament the night before last, more than paying for the trip I’m on. Hooray gambling.
Tomorrow morning, unemployment figures will be announced for the US in March. They will be worse than anyone could imagine, probably fueling an even greater rally in the stock market (it’s how they roll). It’s a nice thought that we can value our household appliances and trinkets at millions of dollars to make up for the fact that no one will pay us for anything else anymore. But eventually, an economy based on tying people in the bondage of day jobs and profiting from their enslavement will fail when no one is employed anymore. I promise.
If you need me, I’ll be at the beach or in the casino. Seriously.
