This Unspecial Week Capped By An Unusual Conversation In Our Local Bank

Nothing special really happened in markets this past week. But the week was something special anyway. The "special" sprung from an attempt to change my daily routine (not that you should care), as well as an unusual conversation (which you may find interesting).

The change in routine came about when - for reasons unknown - evenings seem now to present some sort of opportunity. 

Like many folks, I tend to follow certain routines every day. These are mostly beneficial, beginning with prayer and study, along with some exercise, in the morning, before uncorking the day's work flow. The combination of spiritual and physical exercise prepare mind and body for the day's tasks, all of which are laid out in the weekly schedule that sits on my desk every day. It's the only way I know to attend to the duties of my state of life in a diligent manner, with fervor and exactness.

Why should you care about this? No reason. It's obviously a personal matter. And normally such matters don't make it into these posts. But I guess the thought now was that such cogitation might benefit someone out there who isn't particularly well-organized and might be seeking ways to improve. (Not that I'm a particularly good example to follow, but the morning routine, the weekly schedule, and a commitment to consistency in pursuing these have been developed, by trial and error, over many years, and have helped me to weather the storms of markets and life in general. So there it is.)

Setting the daily routine stuff aside, something else personal happened that might hold some interest to others. It was a conversation I had with the manager at the local branch where I do my personal banking. I hadn't been to the branch in quite a while, given technology that allows for remote deposits and a reduced need for cold hard cash that used to see me there at least once a month back in the day.

Anyway, it was good to see the branch manager. She's been there a while and has always been responsive to the very few issues or needs that have arisen over the years. (Again, it's a local bank. I stopped doing business with the "Big Box" Boys years ago, something you might consider doing as well - although there's no time to get into the "whys" now.) 

So there she was. And given the small size of the branch and the typical lack of lines or even other customers when you go there to do your business, we had a few minutes to converse whilst I awaited the cash from the teller.

The conversation began with an inquiry from me about what my savings were earning: a typical harmless exchange when you're at your bank. Naturally, it's still close to zero - still common at most banks, with some exceptions. But CDs now paid something, in this case 4.5% for a 9-monther. She made the point that the bank has sold a bunch of these, mostly to seniors seeking some return on their life savings.

So far, just standard stuff you might talk to your banker about.

But then, for whatever the reason, I made some comments about how it's been years since seniors/retirees could get anything for the money they had in the bank, specifically a fair return with virtually no risk. Those comments elicited a robust response. Since this woman is a bit younger than I, I didn't know if she was even aware that, for many years, you could get such a virtually risk-free return without taking on the risk of the stock market or various concocted funds that promise income of some sort - all of which entail varying degrees of risk; and all of which has, at some point, chomped a chunk of financial flesh out of unsuspecting seniors - and others - during this long stretch of suppressed interest rates, dating back to at least 2008, but already in process in various degrees before that.

But she was by no means unfamiliar with the concept. And she was more than aware of how this dearth of risk-free return worked to the detriment of not only seniors, but to all of "us" - i.e., we who are just plain regular folks working for a living, making our way in this world as best we can. Conversely, she was aware that there exists a privileged class, much fewer in number, who have benefited greatly and continue to do so. So true.

This exchange then led to a more comments from her about those with money and power having no regard whatsoever for the rest of humanity; from which sprung an example from her native country - Serbia. Apparently the war conducted in the 1990s against Serbia, led by the United States government has resulted in a plague of cancer amongst the general population. It seems part of the massive bombing of the country involved cancer-causing radioactive agents like uranium which have taken up residence in the water and soil of the country. 

And with that, she made the astute comment that neither those responsible for the financial repression of our current times nor those responsible for poisoning her country, causing so many cancers have been or will ever be held accountable.

The point of all this: First, there are thoughtful people out there who, when engaged, can and will express their dismay at what's going on in our world, as well as their contempt for those perpetrating what really are crimes against us - dare I say "humanity." Second, when you hear the perspective of someone who was born and raised elsewhere, who came here to find a better life for herself and her family, it reinforces all this in a clear, unmistakable way.

Oh, and to cap off our conversation, the following spilled out of my bank manager's brain, without prompting. It was a comment about how our country has become "communist" - this from someone whose country was such for many decades. We'll leave it there for now.

Meanwhile, as things schlump along in this world, Hanukkah and Christmas have now crept up on us all. Perhaps it's best to set aside all of the above and get focused on this most wonderful time of the year.