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Money matters: Currency Management Strategy
Graham Macdonald
MBMG International Ltd.
Currency management is a very important component of global
portfolio management. Either an investor can ignore the short term monthly
movements and invest in underlying assets classes consistently on a fundamental
basis, or the currency decision can be managed in an active hedged fashion. In
this article we analyse the technical and fundamental issues facing the world’s
reserve currency and the impact of portfolio management.
US dollar index
The chart below shows the US dollar index (DXY), a basket of
currencies approximately Euro 57%, Yen 14%, Canadian$ 14% and the British Pound
10%, since 1997 to the end of May 2006. Over the longer term the DXY has traded
in a range between 120 and 80. Therefore, the argument that currency management
can be ignored over the long term holds true as the dollar index has remained
range bound throughout the last 20 years through numerous business cycles.
However, active management utilizing a well executed currency overlay programme
can add significant value throughout the business cycles. Taking an example, the
US capital markets were very strong through the second half of the 1990’s as the
budget deficit turned to surplus during the Clinton administration and the US$
appreciated significantly from the 80 levels in 1995 on the DXY. From 2002 the
fundamentals changed, the primary trend changed technically as the GW Bush
regime altered the budget and current account deficits and geo-political risks
rose.
As a US dollar based investor from 1995 to 2002, all assets held outside of the
dollar block, needed to be hedged back into dollars to achieve the full benefit
of their performance in dollars. For European, Asian and Emerging Market
investors they needed to have their US equity, bond and property exposure
unhedged as they gained the double benefit of asset class return and currency
strength. The only shorter term technical change to this strategy would have
been during the LTCM hedge fund/Russian debt default in Quarter 3 1998.
From 2002 until presently, the complete opposite has been true. US dollar based
investors have been faced with a weak dollar policy and actuality and therefore
needed to be fully unhedged to all their Euro, GBP and Yen based assets.
However, whilst US assets may have been attractive to some foreign investors,
they needed to hedge the dollar value of their holdings as the currency value
fell and hold their cash on home soil.
The latter part of the 1980’s/early 1990’s was the last time we had had a
significant period of dollar weakness. The primary trend was negative all the
way from 120 to the 80’s level on the DXY.
From a chart perspective and using the above rationale it is
easy to conclude that once the DXY reaches the 80 levels, the dollar correction
has run its course and the hedging programmes should change tact. We will review
the fundamentals later but first let’s evaluate the following.
We receive independent research from Cross Border Capital. In their recent
Global View they stated, “Currencies are critical to the health of financial
markets. Countries with weak currencies never enjoy strong financial markets for
long. Currency volatility looms large as a trigger for financial panics. As
such, several years of low currency volatility have underpinned the latest bull
market in financial assets.” The recent 4 years of the DXY trend may have been
one way traffic but it has not been volatile. They also produced the following
50 year chart that shows clear trend lines and whilst it is unclear what the
scale is, it implies that the Euro could only be halfway through the present
movement.
Continued next week…
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The above data and research was compiled from sources believed to be
reliable. However, neither MBMG International Ltd nor its officers can accept
any liability for any errors or omissions in the above article nor bear any
responsibility for any losses achieved as a result of any actions taken or not
taken as a consequence of reading the above article. For more information please
contact Graham Macdonald on [email protected]
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Snap Shots: Panoramas made easy
by Harry Flashman
This week I will describe a simple technique to produce a panorama that
is suitable to be mounted as wall art. This “old fashioned” way with
glue and scalpel is not only a satisfying Sunday evening project, but
teaches your children that you do not need to depend on computer
programs.
Having found your scenic view, select your point from which you will
take the photos. Mark the spot by erecting your tripod on it! It is very
important to make sure the three legs are firmly locked into place and
the whole structure is stable. (Some professional photographers will
even hang a sand bag from the tripod to make it even more steady and
secure.) Any movement of the tripod and the effort will fail.
Guaranteed!
The next step is crucial. Adjust the legs of the tripod to get the
tripod head absolutely level. “Eye balling” is not good enough. This is
where a spirit level comes in. Any carpenters level will do, and some
tripods actually come with spirit levels built in. Check north-south and
east-west. The tripod head must be horizontal in all planes.
The idea is that all sideways movements of the camera have to be in the
exact horizontal plane. This movement is called the “pan” and the handle
to allow this to happen is the “pan handle” - just shows you how basic
photography really is!
The “standard” 50 or 55 mm lens is just perfect for this job. For the
technically minded, the standard lens has an angle of view of around 46
degrees, and even allowing for a 6 degree overlap, five successive shots
will produce a panorama of more than 180 degrees.
For the non-mathematical photographer - do not despair - just slowly
rotate the tripod head while you look through the lens. Note the number
of shots you need to cover the intended scene, allowing for a slight
overlap each time. Generally you will find four to five shots will be
enough to cover it.
If you have a manual camera, meter for the correct exposure by selecting
the most important feature in the panorama and noting the exposure
readings necessary to record it.
Now if the camera has manual over-ride then fix on those readings for
every shot in the panorama sequence. This will give a more even tone to
the skies and backgrounds in the successive pictures. Mind you, even
with fully automatic cameras you will still get good results provided
the successive shots are taken quickly to avoid differences in light
levels caused by sun and cloud movements. Try to avoid shooting into the
sun as you complete the multi-exposure panorama or you will get enormous
changes in sky and foregrounds.
Now you are ready to take the four or five shots. Rotate the “pan” head
so that you start your first shot from the left edge of the scene. Make
a small pencil mark on the pan head, then move to the next shot in the
series, remembering a slight overlap. Again make a pencil mark and you
will be able to see how much you are rotating the camera for each shot.
This comparison will allow you to have the same amount of overlap on
every print. Whilst you do not have to be accurate to the nth degree, it
does make it better if you have round about the same overlap.
Get borderless prints and get an extra set at the time of initial
processing. This is important, because if you make an error during
cutting, you have replacement processed at the same time as the original
and should match colour and density.
Lay the shots down, side by side and carefully line them up with their
overlaps. Because you shot with the tripod head horizontal, there should
be no up and down movement in the horizon from print to print. Now, with
a steel rule and a scalpel, or very sharp knife, cut the overlapping
sections away leaving a continuous pictorial scene of around 600 mm in
width. This trimming is tricky and you will appreciate the extra set of
prints!
Now glue the shots together on art board and finally have your work
laminated. Your panorama will last for years, and you will have a
worthwhile work of art for the lounge room!
Modern Medicine: Big boys don’t cry
by Dr. Iain Corness, Consultant
I’m not sure, but I think there was once a pop song with the
line “Big boys don’t cry” in it somewhere, but that is not important. What
is important is that if you came from a western society, you were probably
raised with that dictum. You probably even picked up your crying toddler son
after a tumble and said, “There, there. Big boys don’t cry. You’re OK.”
Correct?
We are all guilty of promoting this stereotype. The big strong man who
protects the weak and vulnerable woman. Countless movies all follow this
theme from “Gone with the Wind” through to “Mission Impossible III”, so it
must be true. Unfortunately for all those big strong super-protective men
out there, the stereotype is not necessarily true and rigid following of it
can be quite contrary to good mental health.
“Men are far more reluctant to talk about their emotional vulnerabilities
than women,” says Dr Nicole Highet, a psychologist. “This stigma may be due
to the perception that emotional problems and depression are women’s
problems.”
“Men tend to be action-oriented, so they mistrust feelings and tend to
regard emotions as a sign of weakness,” says Dr Michael Dudley, a
psychiatrist and chairman of Suicide Prevention Australia. “For men, mental
illness is seen as a moral failing, so they bury pain and don’t talk to
people about it. But depression is an illness, not a weakness.”
Depression is an illness that can strike at any time, even to those normally
associated with dogged masculine determination. Famous amongst these was Sir
Winston Churchill, who guided the UK through the tribulations of WWII, and
who called his depression “the black dog”.
What has to be understood is that just “feeling down” on its own is not a
symptom of mental illness. We all feel down from time to time, generally
when something has happened to precipitate it, even the death of a family
pet. “We all feel sad from time to time, but depression is an ongoing
sadness that lasts for two weeks or more, with a complete loss of pleasure
in things that were once enjoyed. Some men live with their condition for
months, or even years, and become acclimatized to their low mood or
negativity,” says Dr Highet. “But depression isn’t merely a passing blue
mood or something that someone can ‘snap out of’ without help. Depression
dramatically alters an individual’s body, mood and thoughts,” she says.
Since men have been raised not to have public displays of depression, many
adopt strategies to cover the problem, with the common ways being to become
workaholics, risk taking to produce ‘highs’, alcohol and illegal drugs.
“Men often try to manage their own symptoms,” says Dr Highet. “While this
may provide temporary relief, it only compounds the illness as they are not
addressing the underlying condition. There is also some debate as to whether
the (drug) abuse masks the symptoms or actually causes the depression.
Whichever way, getting help is essential.”
The incidence in the community is frightening. In Australia, which has a
well developed reporting system, it is believed that clinical depression is
Australia’s fastest growing illness. The National Survey of Mental Health
and Wellbeing found that one in four women and one in six men suffered from
depression. In 20 years it is predicted that depression will be second only
to heart disease as Australia’s biggest health problem.
The enormity of the problem has remained hidden, but consider this:
Depressed men are four times as likely as depressed women to commit suicide.
Of the over 2,000 suicides in Australia each year, 80 percent are male.
There are more men committing suicide each year than dying on the roads, and
almost 50 percent of suicides are males aged 25 to 44.
While the causes of depression are multiple, and men try to mask their
problem, the sad part is that depression can be treated. Modern
pharmaceutical medication is not ‘mind altering’ but restores the chemical
balance in the brain to allow ‘normal’ thought processes to return.
However, it needs the men to admit that they might, just might, have a
problem!
 Heart to Heart with Hillary
Dear Hillary,
I look forward to reading your column every week. I have to write regarding
the letter from “Mike’s Father” asking for advice on reading material for
his son, you advised “Private Dancer” which I’ve never read. Some twenty odd
years ago a good friend of mine, and famous novelist, Jason Schoonover, once
told us fellow elbow benders, that the best thing you can do for a friend,
on his first visit to Bangkok is lock him in his hotel room with a copy of
“A Woman of Bangkok” and don’t let him out until he finishes reading it.
Everyone in our crowd of friends agreed with Jason, as we all had read the
book and were of the same opinion. The Far East Economic Review rated “A
woman of Bangkok” one of the ten best novels ever written about Asia. It is
a true story of a young English accountant sent to Bangkok by his company in
the late 1950’s, falls crazy in love with the White Leopard (a woman of the
night) that drags him so far down with requests for money that he ends up
robbing his boss. I didn’t ruin the plot as there is so much to this story.
I’ve never known anyone that has read this book that doesn’t rave about it.
It’s been in and out of print over the years, owned by Asia Books (I don’t
believe the author is still living). I even tried to buy the rights to the
book about 20 years ago, had my Thai lawyer check into it but they want a
stupidly large amount for it. I wasn’t looking to make money, I just wanted
to get it back in print, it’s such a classic. Sometime later Asia Books made
a reprint from it. I have friends that make photo copies of it to send out,
because it was so hard to find. I haven’t looked for it in years so don’t
know what it’s current status is. If you ever come across it, give it a
read, you won’t be disappointed. Note: this is the only decent book I’ve
ever read on Thai woman. Guys fly into Thailand spend a couple of years and
think they got it all figured out. I’ve been in Thailand long enough to know
I’ll never figure them out. I’ve been married to one for 16 years now, and
we get along better than we ever have.
Art (now working in Indonesia, here at the office, and my wife is out on
the golf course. She’s got the tough life of an expatriates wife.)
Dear Art (now living in Indonesia etc),
Thank you Petal for that information, and if I ever find a copy I will read
it. By the way, it was written by Jack Reynolds and describes Bangkok in the
Vietnam war era, not that it has changed all that much since then - or the
bar girls have not (though these are the daughters of the ones in Reynolds’
book). Private Dancer was initially only available as a download from the
internet, photocopied and passed around between ‘old hands’, but now
available in paperback. By the sounds of it, the two books have a somewhat
similar plot, with the male falling totally head over heels for someone out
to empty their wallet. You are correct that you have to get hold of these
newbies and educate them before they are allowed into the heady pleasures of
Thailand’s bars and bar girls. The average young male visitor will
unfortunately in some cases still ignore all the best advice and going the
way of so many others, end up writing to Hillary with some horrendous tale
of woe. And diminished bank balances. There’s no saving some people.
Dear Hillary,
I read in your column about all these dudes who end up being cheated by some
Thai bar girl somewhere. Surely they are not all like this? There must be
some who are not on the lam, who really are honest and the sort of girl you
wouldn’t mind taking home to Mom. I’m coming over next year with a couple of
buddies who’ve been to your country before, so I surely won’t be ripped off.
I’m really interested to know what goes down over there?
California Guy
Dear California Guy,
Please re-read the letter above yours. Send off for Private Dancer, or the
Woman of Bangkok, which you can get through Amazon.com, and read and then
wonder why the ‘old hands’ are suggesting you understand what goes on before
you come, not afterwards. There appears to be a culture which thinks that
these girls are forced into slavery and all the foreigners are here to
rescue the poor young things from a fate worse than death. This is not quite
reality, my Petal. The real situation is that 99 percent of them do have one
or two children in the village being looked after by her mother, and she
does have to send money home for their keep. However, the occupation she
chooses to make that money is her decision. There are many shop assistants,
maids and nannies in the same situation as regards children in the village,
who have chosen not to enter bar work. Slavery was outlawed many years ago
in this country. Bar girls have made a financial decision, and it is up to
you as to whether you make the choice in becoming an ATM.
Beyond the Beach: La Dolce Vita - Secondo
Caspian Pike
All things must pass. In appropriately imaginative fashion, the current
series of “Beyond the Beach”, the TV show which along with its predecessor
“Perspectives” has set new standards of excellence in creative writing and
production locally and regionally, concludes this week. Surrounded by
spectacular scenery in the undulating Umbrian hills, Andrew Watson’s Italian
dream continues as “BYB” prolongs our sense of the surreal. The dream motif
is well spun; the landscape is almost inconceivably glorious and Watson
plays the dreamer like we all long to do, turning impulse into reality,
chasing instinct round every corner.
 Andrew
Watson’s dream continues this week as he travels to Umbria, in “La Dolce
Vita: Secondo”
Driving past fields of sunflowers, BYB ventures across the border to Tuscany
and to San Sepolchro, a town typical of the region and birthplace of Piero
della Francesca, one of the great fathers of the Renaissance. There’s a
great sense of continuity as Watson, who noticed a St George’s flag flying
in Rome in last week’s show, identifies the same in della Francesca’s
painting ‘The Resurrection’. Why is it there? To my great surprise, I am
informed that not only is St George the patron saint of Italy (as well as
England) but that he was a Turkish conscript in the Roman army!
Back in palatial surroundings and sporting ridiculous regalia once again,
Watson discovers Stephen de Martin, lead singer with the band “Four Poofs
and a Piano”. De Martin is a well known and popular figure to TV audiences
in the UK, (the band were regulars on the Jonathan Ross show) who has just
finished touring with Joan Collins. Sharing a king sized bed during siesta,
Watson and de Martin talk about Stephen’s hugely successful career which
other than reflecting a tremendous talent, has played a significant part in
reshaping preconceptions and diminishing prejudice towards the Gay
community. The bottom line is that he’s a great artist.
Siesta over, Watson re-enters dreamland and speeds towards the local town of
Umbertide, where he engages in another self-indulgent Italian past-time;
buying a pair of shoes. Identifying possibly the most preposterous and pink
pair possible, (this is funny) Watson tells us that shopping for shoes in
Italy is not so much a matter of choosing the shoe, it’s “more a case of the
shoe choosing you”. A subsequent stroll around the medieval centre is
utterly refreshing. I felt like I wanted to jump on a plane!
The programme and the series end where the first series started, looking
over rolling hills towards the divine blueness of Sienna. It’s a fitting way
to end, demonstrating once again PMTV’s attention to creative detail and
devotion to aesthetic principles. Piero della Francesca would surely have
approved! I feel like I’m watching a sneak preview of a show that’s going
places, literally and metaphorically. It’s like catching a band early,
before they get huge. Perhaps we shouldn’t be surprised; Pattaya is a place
of such rich blooms that something was bound to blossom. From Ban Sare to
Bangkok, Second Road to New York City, Pattaya to the Cotswolds, it’s been
great fun.
Catch Andrew Watson’s “Beyond the Beach; La Dolce Vita - Secondo” on Sunday,
at the following times:
Sophon at 8:00am - Midday - 4:00pm - 8:00pm and Midnight.
Chonburi at 9:40am - 2:00pm - 8:40pm and 40 minutes after midnight.
Jomtien at 9:00am - 12:30pm - and 9:00pm
Sattahip at 8:00am - 1:30pm - 5:00pm - 8:00pm and 11:00pm
A Female Perspective: Practice makes perfect
with Sharona Watson
One of the mistakes I think I made when I took the decision to get married
was psychological. If the mistake was perhaps understandable, it was
nonetheless a mistake which has caused me just about more grief than any
other. Worse still, it’s a mistake I made repeatedly and I am sorry to say,
it’s one I continue to make, albeit on fewer and fewer occasions (at least I
hope).
Washing up: perhaps an unlikely source of disagreement?
It is the mistake of thinking that marriage is different to all those other
aspects of life, from riding a bicycle to speaking a foreign language. I
imagined that marriage was a thing which would come easily, naturally; that
the bond of love which united my husband and I would magically transform all
problems into solutions. I thought I could take everything for granted.
Looking back, I cannot understand why I would possibly think such a thing. I
find it difficult to imagine anything more complicated than human
relationships, yet I didn’t consider that I should address the subject in
the same way that I might approach anything else that needed to be learned.
When I think of what I took on then and the situation that I find myself in
every changing day now, I sometimes have to take a deep breath. I can’t
believe I climbed all those mountains, overcame all those obstacles.
I come from a completely different culture than my husband. In more ways
than one, we come from different places. When we met, in the details of our
lives we had established routines and ways of doing things which were often
in complete contrast. Some of our first arguments were about things so
mundane that it makes me laugh (in an embarrassed way) when I think of how
upset I used to get. Things like how to wash up, how to clean and how to
organise were the sources of almost daily conflict. Sometimes, these kinds
of non-issues still raise their ugly heads but I least I can recognise and
deal with them now.
Yet for all our differences, I recognised almost immediately upon meeting my
husband, that we shared an understanding of what life was all about. Call it
a common philosophy if you will, it felt like we shared the same soul.
Considering our backgrounds this was nothing short of incredible. We didn’t
even speak the same language, but instead of words being impediments, we
searched for meaning in what we said and every uttering became important. In
retrospect it was like walking a thin ridge of a mountain top. The merest
slip could have sent us tumbling and it would have been the end. But
something kept us going and I don’t think we ever wondered what it was
exactly, or how precarious the whole marriage thing was (and is). I don’t
think we dared look down.
A lot of minor disagreements seem to be inevitable, especially when you get
two independent headstrong people giving up their independence and changing
the way they do almost everything. Things you used to do on your own, you
start doing together. If initially this is a pleasure, later it feels more
like a responsibility. I can’t leave the house without telling someone. I
have no privacy! That is a massive change that I still struggle with.
You know the most ridiculous thing of all? Other than the experience you
might have had of living with your own parents (but who’s really paying
attention then?), there’s no training for marriage! I left my parents’ home
when I was eleven years old to go and live elsewhere (that’s another story);
except to say that the only examples of marriage I lived with, I wouldn’t
want to emulate. In fact, it put me off the idea altogether and it took a
lot to change my mind.
Periodically, ‘divorce rates’ hit the news headlines. What’s that we’re
told? That one in three marriages ends in ‘failure’? So why don’t they teach
‘marriage skills’ in schools, if a society still thinks that marriage is so
important? At the very least, we could learn ‘living together skills’ which
is what marriage amounts to.
If you’re not careful, much as I wrote a few weeks ago, the little things
can build up (if you allow them to) and distort a relationship, sometimes
break it. A solution? In my opinion, sooner rather than later it helps if
you recognise that marriage is hard work. That doesn’t mean it’s not
pleasurable, it just means that you need to prepare yourself for the daily
challenge.
I must admit that initially I found it difficult to adjust to the idea that
my life had changed so fundamentally, which is one of the reasons why I
still believe strongly that a partnership should allow for ‘time out’. My
personal space is very important to me and allows me to gather my thoughts
and build up my energy levels.
Being in a relationship really helps you get to know yourself better; in the
early days of being married I sometimes couldn’t recognise the person in the
mirror. I was behaving and reacting in ways that were new to me and I
thought that I was losing touch with the person I believed I was. It’s quite
a scary feeling.
Over time, I realised that I was simply responding to new realities in my
life; for instance, physically, I’ve never been more tired than when I was a
mother for the first time. I’m no longer ashamed to admit that the
comparison between my life before and after marriage left me feeling
imprisoned sometimes. Part of learning about myself involved realising that
my feelings were not only inevitable, they were perfectly natural. I had
just felt unprepared. Like many of us, I wasn’t ready for what life had in
store, so the learning curve was very steep.
There were many times when I felt like I couldn’t make it but I learned that
this feeling would pass if I let it go. Talking about things with friends
helped a lot; talking with my husband was great when it happened; we just
seemed to be so tired all the time that it didn’t happen enough. But it’s
much better now. Whilst I don’t expect all this practice to bring
perfection, it won’t stop me aiming for it.
Next week: A female’s friends
[email protected]
Learn to Live to Learn: The clash of civilisations
by Andrew Watson
Nine short months ago, as I rounded off the first series of “Learn to Live
to Learn” I wrote, “We live our lives forever taking leave.” Now, returned
from a period of sabbatical, I have come home to the Pattaya Mail and “Learn
to Live to Learn” re-energised, so please forgive me if my enthusiasm
overflows slightly! I always enjoyed writing the column and it was clear
from my mailbag that at least in some small way, it achieved its objective;
that of stimulating increasingly informed debate on a subject that I and
many readers are passionate about; education. Thanks to all of you who have
contributed over the last few years. I really appreciate your input. After
all, if the purpose of the column is to be critical, compassionate and
provocative, then surely I should expect nothing less in the nature of the
subsequent responses and ensuing conversations! Thus, I am certain that I
would be disappointing you if I didn’t hit the ground running…
All situations have a positive; “There are no problems, only opportunities”.
Having spent most of the summer in a war zone, the bunker life has afforded
me considerable time for reflection. Sitting or lying encased in a dark,
concrete, claustrophobic space for extended and seemingly interminable
periods of time, my mind created an educational metaphor for itself. Where
else, I found myself wondering, (apart from other literal bunkers) had I
experienced that nauseating sense of being entombed, oppressed, fighting to
see the light for the dark, disoriented, suffocated, unable to move?
Considering my experience of northern Israel over the past few weeks, the
answer is perhaps disturbing: schools.
The reasons I entered education in the first place, after spending ten years
exhibiting paintings in London, were and remain, unapologetically
idealistic. As many have done before and since, I had come to the conclusion
that any hope in solving conflict and the associated cancers of ignorance,
prejudice, greed and hatred, rests with education. Thus, it is a cause for
great personal concern that either expressing or maintaining an ideological
position in relation to education seems to be regarded as unfashionable,
when the need to relate the real world of global politics to the classroom
has surely never been greater.
I should clarify; pick up an educational journal or the education pages in
some newspapers and there is either a monologue or a dialogue happening.
These opinions and conversations are important to sustain a level of
concentration on what is after all, the core business of school: teaching
and learning. Good things are happening but they seem to be isolated pockets
of what Howard Gardner calls, “Good Work”.
I challenge you; talk to many teachers about important global issues,
question students about how their pretty situation in Thailand can possibly
be related to (something like) the madness in southern Lebanon,
cross-examine educational leaders on their internationalist credentials and
the answers will often be moribund, if not redundant. Naturally, allow for
exceptions.
What I have increasingly considered, in an educational odyssey that has
taken me across the globe, is that a clash of cultures, moreover a clash of
civilisations, appears to be taking place not only in the politics of the
Middle East, Europe and elsewhere, but in staff rooms and classrooms all
over the world. On one hand, there is a civilisation which embraces change,
celebrates diversity, empowers students, engenders a culture of excellence
and celebrates life. On the other, there are oppressive regimes which stifle
creativity, smother initiative and create self-seeking, self-serving
cultures of individualism where narrow parochialism prevails and mediocrity
reigns.
Whilst I am describing polarised philosophies, these can often exist in the
same corridor of a school and yet only rarely seem to be uncovered. The
secure environment of an institution can often provide camouflage for those
seeking to hide. Nonetheless, in the brave new world of international
schools in Thailand, the clash can be distinct and sometimes shocking.
There’s a simple test question you can ask a teacher to which I had hitherto
imagined there was only one possible response, “Who do schools exist for?”
Yet when I asked this question to one teacher not so long ago (whom
admittedly was a disgrace to the title) his response illuminated a crevasse
dividing our philosophies. His response was immediate; with a derisive
guffaw, he snorted, “Well, they’re not here for the students, are they! You
can’t have them running the show!” It was like listening to a John Cleese
character, except with neither the class nor the humour.
What I found most disturbing about this attitude towards a job which in my
view carries with it some necessary sense of moral and ethical obligation,
was that within this particular organisation, it quickly became apparent
that this clown’s position was by no means a solitary voice of lunacy. There
are many symptoms which quickly betray profound disinterest for the welfare
of the student; I have no intention of listing them all here, but they
include predilection for attending to ‘personal’ admin during lesson time,
tardiness for lessons and evident eagerness for departure as soon as the
school bell sounds for the end of the day. Watch them scurry for the exit!
Alternatively, there are many teachers for whom teaching represents more
than a means to a fiscal or recreational end. I write of them, their
commitment and selflessness, as an ‘alternative’ example because in this
topsy-turvy world, the culture of selfishness seems to be actively endorsed
as a viable option.
Some genuinely seem to believe, if we are to judge by their shameless
actions and words, that ‘looking after number one’ is a good value to
promote. Maybe I’m wrong. Perhaps it is? However, I have been unable to
collate any evidence to support the idea. I was brought up as a socialist;
perhaps I’m trained to spot ‘capitalism’ in the classroom? I can’t say I’m
enamoured by the concept of a ‘trickle down effect’ in schools. I prefer the
evidence of teachers who devote their early mornings, late evenings and
weekends to extending the educational experiences of their students and
through this, the possibilities of young people’s lives. I prefer the
evidence of students flocking to a classroom in their breaks and lunchtimes
to spend time with inspiring teachers with a passion for their subject. I
prefer the evidence of individuals who willingly give rather than take. Yet
too often, it appears that it is the ‘givers’ who are under siege,
unappreciated and maligned, even on occasions subject to derision by their
less devoted (or is it less able?) colleagues.
Incarcerated in a bomb shelter, it would perhaps be understandable in such
circumstances, to adopt a ‘bunker’ mentality. But in working towards a
brighter future, it is critical never to lose sight of the light, to
persevere until you achieve your objective and then, when you finally climb
back into the sunlight, to do one thing more; to demonstrate compassion
towards your adversary. Compassion; a quality which sets an enlightened
civilisation apart from another.
Next week: Compassion
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