LESSONS FORGOTTEN, LESSONS LEARNED

One of the things that is pounded into one's head in Law School is, "Never ask a question unless you are sure of the answer."  Not a great advertisement for intellectualism but keep in mind for the most part, Law School is a trade school.

Well, I forgot that yesterday and asked what am I missing.  Thought you might be interested in a few responses.  Besides, it writes this day's effort better than me.

" as we've been "QE ing",  the number of people on the dole has more or less doubled (from ~25m to ~50m)... "

"...more people have left the workforce than we've created jobs... "

70% of the jobsthat have been created have been part time or low-skilled, low-wage...

"...income continues to disappoint... investment remains weak... productivity is
declining...and debt continues to grow at a faster pace than the economy or
the population..."

"...the energy industry which has created about 2.5m jobs of
the 7.5m jobs that have been created(arguably among the highest paying
jobs), is in free fall...it has also been a major source of the capital
investment that has taken place over the past six years....again , scratch
that for the near term."

..."and why the Euros would want to emulate our experience ????....."
...
"...you were kind to the Euros...they are an absolute DISASTER...politically,
economically, socially, structurally..."

"... hyperactive central bankers everywhere...hyper dysfunctional politics
everywhere.... geopolitics increasingly fractious....hard to see how this
doesn't end in tears for all of us...."

The comment on the energy business is particularly telling.  Besides providing a massive tax cut to the middle class, it has produced the greatest amount of jobs in the economy.  Over There, France and Germany have banned fracking.  Talk about dysfunctional.  Those clowns have bowed to the Greenies even more that Il Duce in front of whom he is full grovel.  In addition, someone mentioned today that the price of diesel Over There  remains at $8 a gallon.  Aren't taxes to pay for the nanny state wonderful.

Anyway, on day two of Le Grande Illusion, the Euro went further into the crapper which was to be expected.  equities traded off, and everyone was waiting for the Greek elections on Sunday.  Oddly, not a sound from either the Fed or the Obama administration emerged.  I found that curious as it was they that invented this process.  I mean not even a "Yo, Mario way to go Paisan!"  Do you find it curious......wait, never mind,  I never asked that question.