All The King’s Men Can’t Put Humpty Dumpty Back Together Again

Nobody can predict how long governments can get away with fake growth, fake money, fake financial stability, fake jobs, fake inflation numbers and fake income growth. Our feeling is that confidence, especially when it is unjustified, is quite a thin veneer. When confidence is lost, that loss can be severe, sudden and simultaneous across a number of markets and sectors.

_ Paul Singer’s letter to investors

Then there is this from David Stockman:

…  since the turn of the century, the working age population has grown from 212 million to nearly 250 million, but out of that potential 38 million gain, there has been only an 8.7 million pick-up in the headline payroll count. And even that dismal 22% ratio is flattered by the fact that, as demonstrated below, a growing share of the headline print consists of low wage, part-time jobs, and many of them represent multiple paychecks to the same person.

 

Fifteen years of steady decline in the number of jobs and in the quality of jobs that have been generated. Yet, the central planners tell us everything is improving. That means we can expect the central planners to continue doing more of the same.

A frequent visitor to Asylum Watch from the far left had this comment on a recent post about the trend of technology replacing large segments of the workforce. He will go unnamed to protect the guilty. Let’s call him Mr. X.

I think we focus too much on everyone having “jobs.” Isn’t raising a child or children valuable? Isn’t that work? Isn’t that a job? What about educating yourself? Instead of profiteering from people who want to be educated, wouldn’t it be better if more people were educated, if more people had the skills to come up with new things and new ways of doing things?

The Protestant Work Ethic was always nothing more than a way to subjugate the working class. “Work” in and of itself does nothing for your soul, yourself, or anyone else. Accomplishing something is what’s important.

I fear Mr. X comes closer to representing a majority in America than I do. One thing is for sure. Those that arranged Humpty Dumpty’s fall love people like Mr. X.

So, you can expect the next fifteen years to be like the last fifteen years _ or worse.

Well, that’s what I’m thinking. What are your thoughts?

 

 

 

 

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10 thoughts on “All The King’s Men Can’t Put Humpty Dumpty Back Together Again

  1. Folks with the outlook of Mr. X is why the U.S. is in decline. There is no substitute for a good work ethic as the path to prosperity and growth. Nothing worth having ever comes easy.

    In the 1950s women were relegated to the home in order to maintaining a household and raise kids. Is that work and rewarding? You bet it is, but it isn’t enough to define a person. The women’s movement into the workforce was partly a reaction to the need to be more than an unpaid maid.

    Stockman, speaking of jobs, said something few people ever think of. If a person is working more than one part-time job to make ends meet, and millions are, they are double counted (or more) in the statistics which further dilutes the meaning of the official unemployment rate, making it lower than it really is.

    The unemployment rate now means far less after the Great Recession than it did before.

  2. You guys are so far out. Why anyone would think “central planning” had anything to do with the decline of upward mobility and stagnancy of the middle class is beyond me. We are among the world’s least centrally planned countries. Our township system dates back to our founding days and it has been abused by private developers in cahoots with local governments for years to create ruined old main streets, avoiding taxes and regulations, importing literally everything they sell, Walmart-izing the nation, and you geniuses think somehow “central mf’n planning” caused that.

    Geesh. What friggin’ country do you people live in?

    JMJ

  3. I gave up hiring the youngins a long time ago. Work for most was getting a paycheck. Unhappy about anything? Go to HR and file a complaint. Add the so called “intermittent Medical leave” and at any time they could walk off the job for hours or months at a time. One reason that the guys are living at home. Once one has a couple of these experiences who would want to hire them? (Did I go off topic)?? 😦

  4. In the classes I teach, almost every single lazy student is an American. The Chinese students who have enrolled — these students are first generation Americans — work hard and surpass the American students. I don’t believe that my Chinese are smarter children, but they apply themselves in everything that they undertake.

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