What can you say? While Rome burns, we seem to go more insane. Great job numbers to celebrate Friday as 94 million working age Americans remain out of work. American people are now referred to as "consumers". Hilsenrath chastises their lack of spending during the recovery in the Wall Street Journal. An ugly uprising to Hilsenrath's article arises in the comments regarding his article.
The 90% is beginning to realize the "recovery" is not going to be coming their way. The celebration of the "Jobs report" on CNBS is chaotic somewhere between a funeral and a birthday. Even Joe Kiernen's smirks seem confused. A "bicycle" crash immobilizes John Kerry while in Europe. The President plays golf. Life appears normal as 94 million working age Americans disappear from the news. Hilsenrath laughs.
A new wave of technology sweeps CNBS news Friday.....drones. Even the CNBS reporter demonstrates his own personal drone. A surge of "optimism" gradually builds as the news day develops. Surely the drones can salvage the recovery. No "New Deal" in this recovery necessary. The 94 million will be lifted by drones. Even Art Cashin's "700 million to sell" at the close is quickly covered and Bill Griffeth throws a kiss to the floor and rings the closing bell. It was another day into the "recovery".
Things seemed hollow. Money was still being printed, but interest rates couldn't be raised even 0.25% or the "recovery" could be jeopardized. Why? We have all these jobs. I guess the part time bartenders, waiters, and barristas just don't really count. At least a Picasso went for $100 million and over 100 million people are on government food assistance now. How can that be? We can't give our old people and savers 0.25% interest on their money but someone can spend a 100 million on a painting?
Capital controls now being implemented in various forms in Greece, Argentina, and even America, but we're in a recovery so why? I don't understand. Why is confidence so important for our recovery? CNBS talks constantly about it. I have a lot of paper in my wallet that is backed by it but I can't break a Benjamin at Starbucks anymore. How do I get change? I wonder if their tips are down with fewer George Washington's in my wallet. Capital controls are strange to me.
I went home to my gated community and all was well. All is well and life is good for me. I don't care. gl