Noah denkt™ -
Project for Philosophical Evaluations of the Economy
When will the recession end
Q&A between Noah denkt™ and its Alter Ego, first drafted on March 15, published on March 18, 2008
Question by Alter Ego of Noah denkt™ (Q): The million dollar question theses days obviously is: ‘When will the
current downturn reach its floor?’ Does Noah denkt™ have an opinion on that?
Answer by Noah denkt™ (Nd): Yes, we do.
Q: And what is it?
Nd: Well, we think that the recession will start coming to an end when people like Dylan Ratigan or Jeff Mackey
give up their macho-style attitudes and - just for once - show some honest humility.
Q: I beg your pardon, but who is Dylan Ratigan? And who is Jeff Mackey?
Nd: They are both presenters and anchors at CNBC. You may have heard of Mr. Ratigan since he is the Maria
Bartiromo’s partner on CNBC’s “Closing Bell”.
Q: Okay. And how could any of these guys possibly have anything to do with the end of an economic downturn?
After all, they are only presenters. And so they really do not wield any relevant power in the financial markets.
Nd. Well, it may be true that they are just good at reading from a teleprompter. The fact of the matter is however,
that they, in their telegenic limelight, provide a public face to Wall Street. And so it is only logical to presume that
they somewhat represent the local culture too.
Q: I accept that their style may be representative. That does not mean though that their thinking is emblematic
too. For too diverse is the financial community that you could reduce it to the performance of some tv presenter.
Nd: We love your optimism. Unfortunately it isn’t altogether realistic here. After all, we all have become way too
fashion-conscious to be able to prevent us from being captured by one or the other of the few stereotypes that
are out there. And so it is only reasonable to believe, that the broker world is just like that.
Q: So you think that Ratigan sets the cliché and the community just simply follows him?
Nd: No, it’s a bit of this and that. At any rate, if there is anything that these presenters are good at then it is
understanding, synthesizing and exploiting the iconic habits that are perceived as chic by them. And so it is a very
dialectic process that frames the Wall Street fashion mind these days.
Q: And so Noah denkt™ believes then that is fair to extrapolate from Dylan Ratigans’s daily posture as to how
downbeat the overall economy actually is?
Nd: Yes, we think so. And that is also why we have come to the conclusion that the US downturn still has some
ways to go.
Q: Alright, let’s assume for the sake of the argument, that you are right, what then is it that makes you think that
the persistance of a macho-mentality prevents a recession from coming to its close?
Nd: Well, the problem with this macho-style is, that not only has created the current recession, but it also
continues to deny that a real recession has arrived and that it has played an integral part in bring it about. After
all, this wannabe part in a macho mind impedes a clear reality view.
Q: So you are saying that it takes a contritution pose by the Ratigans of this world to ride out the current
Q: Not a pose, an honest mea culpa aittitude.
Q: Why is that?
Nd: Because it is only when the stark facts have truly been accepted, that they develop an incling to change for
Q: And do you honestly think that a guy like Dylan Ratigan will ever change his ways? After all, this macho-style is
all he knows. And so it isn’t easy to believe that he could ever reinvent himself.
Nd: Well, you certainly have a point there. But then again, you just have to hope for the best, don’t you?
Q: And that isn’t denying reality.
Nd: Hopefully not.
Q: Well, we shall see tehn, right?
Nd. Yes, we shall see.
Q: So let’s stay tuned then?
Nd: Yes, let’s stay tuned.
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Addition to this Q&A from Oct.6, 2008 and July 22, 2009: By the way, in the mean time Treasury Secretary Paulson has been literally
on his knees, begging House Speaker Pelosi to pass the 700 Billion Dollar rescue package (Oct. 6 addition). And what's more:
DYLAN RATIGAN HAS BY NOW LEFT CNBC, - just in time for the better than expected Q2 company results (IBM, Apple, Goldman
etc...) (added on July 22).