I hope everyone enjoyed the weekend and various holiday observances and forgot about the economy, stock market, Federal Reserve, debt, crumbling educational standards, demise of morality, embrace of mediocrity, and flaccid economic recovery because this week could be very taxing as it illuminates all of those things and more. I'm not even sure where to begin with Friday's jobs report, which once again reflects an economy bumping along at a fraction of its underlying potential. Moreover, it speaks to a grassroots movement that is more prevalent than what's happening on the left or right of the political aisle-people abandoning the job market.
On one hand you wonder: how anyone could just check out of the jobs market and still live an almost normal life? The answer is there are enough programs out there to soften the blow and avoid what would have been a one-way ticket to being a bum or a tramp. The fact that there is no fear of such a faith is troubling and dangerous. The fact is we must motivate Americans to spark not only that elusive virtuous cycle but also to unleash innate abilities that blossom into ideas. In a real virtuous cycle, it's the plumbing that ensures duration and future success. Such duration must be organic. At some point everyone jumps on the ship and begins to row in the same direction. Oddly, those watching the rowers are now portrayed as victims that must be paid even more for watching from the safety of the shore and government assistance.
Optimism: a disposition or tendency to look on the more favorable side of events or conditions and to expect the most favorable outcome.
In the movie Modern Times, Charlie Chaplin poked fun at capitalism and its fat cats that sat around smoke-filled rooms with giant desks and even bigger cigars while everyone else did yeoman work at barely livable wages. Historians point out that the movie also underscores that even in the darkest period, the American Dream of a wonderful family, nice home, and tranquility resided in the minds of even the most down trodden. Despite the fact Chaplin's tramp is down and out, he doesn't give up thinking about success, and on the contrary, he remains optimistic. Yet it should be noted that the difference between a tramp and a hobo is the former travels to avoid work while the latter travels to find work.
A bum doesn't travel or look for work.
Moody's Puts Puerto Rico on Downgrade to Junk Review Citing Very High Debt, Pension Obligations, Chronic Deficits; Exodus Underway | Mike Shedlock
Radical Capitalism: A remote Indonesian village runs its own telecommunications company. (From a laptop and a tree) | Nick Sorrentino
Open Letter to Obama and Congress From Internet Giants Calls For Reining In Government Surveillance | Nick Sorrentino
(An important interview) Saving the Net from the surveillance state (And Crony Media): Glenn Greenwald speaks up (Q&A) | Nick Sorrentino