Here comes 5.
I really should have entitled this piece “The Emperor Has No Clothes” however that would describe the entire US economy, energy policy, foreign strategy and the President’s involvement. To address the emperor’s clothing could and will take several more columns.
Therefore, “Here Comes 5” is the most appropriate since it is very possible that this week we could break 6% unemployment barrier and proclaim we are quickly approaching full employment. (Fed considers that somewhere between 5.2% and 5.5%)
This Friday, August 1st, the government will once again, as every first Friday of the month, tell us the number of people who have retired to the Hamptons or some other destination spot. Most recently that seems to be the millennials as none of them can find a job. The Participation Pool continues to decline which can only mean, according to Janet Yellen, that the ZIRP policy has not affected those lucky souls and they all have embraced an idyllic retirement.
So the out of work continue to be discounted when the powers to be are striving for full employment.
Many of the $70,000 pink slipped Microsoft employees who have discovered that the Nokia acquisition was not it was all cracked up to be are competing for the hourly sales jobs at Radio Shack. The 300 golf pros at Dick’s’, recently made aware that they didn’t make the cut, are quickly moving on as starters at their local municipal golf course.
Yes, jobs are plentiful and we should all be grateful that the 44th President has kept his eye on the ball in the quest to lower unemployment. Perhaps one of the former Dick’s employees could occasionally caddy for the Chief Executive so he can keep his eye on the ball that really matters.
Since the 44th has been such an admirer and advocate of the socialistic policies of FDR, during the Great Depression, I’m waiting for his announcement about the newest governmental jobs program called the “SHOO-AWAY”.
Yes, I can see the President with twenty youths and seniors standing behind him in a park in Philadelphia each holding a rolled up newspaper. He will be announcing the first program that ultimately pushes us into the longed for full employment. Give the people the opportunity for a real career he’ll proclaim and keep those nasty pigeons off the statues. The twenty will cheer. The “SHOO-AWAY” program will also have a governmental agency behind it which will create thousands of additional jobs and the 5.2-5.5% full employment will become reality.
Forget that Emperor thing because the “SHOO-AWAY” is here to stay.
HERE COMES 5