Tag Archive: Department of Labor


“When are we going to realize in this country that our wealth is work. We are workers. And by selling this idea, ‘Hey man, I’ll teach you how to be rich.’ How is that different than an infomerical?” — Jon Stewart to CNBC’s Mad Money host and former Goldman Sachs hedge fund manager, Jim Cramer

No truer words were ever spoken.

During the course of his 2009  infamous viral dressing down of CNBC’s “Mad Money” Jim Cramer, Comedy Central’s Jon Stewart took direct aim at the notion of get-rich-quick, particularly in times of an economic meltdown.

Some acquaintances of Almost DailyBrett have inquired and even critiqued your author’s daily devotion to CNBC, the repeated clicks on Charles Schwab’s retirement IRA platform, and the checking of the value of the Eugene, Oregon residence on far-less-than-perfect, Zillow.

Yours truly is a dedicated capitalist, devoted to maintaining and growing wealth under the banner of Buy Low Sell High.

Buying low and selling high generates … profits. Yes, profits. Sorry Bernie and Elizabeth.

Some vehemently argue that nothing-is-guaranteed Wall Street is more or less, gambling.

Almost DailyBrett disagrees with this conclusion, but clearly recognizes that gamblers are energized and engaged. No one plays poker and puts their chips on the roulette table and cavalierly accepts the verdict. They play to win the game.

As Herm Edwards said: “You play to win the game. Hello? You play to win the game.”

And more times than naught, gamblers lose. The staggering accumulated wealth and gaudy palaces along the Las Vegas Strip are monuments to the … losers.

Don’t investors want to win too? There are no guarantees on Wall Street. Invested money is placed at risk. Doesn’t that make Wall Street the greatest casino of them all?

Achieving the spread between buying at a lower price and eventually selling at a higher price is more … much more … than simply investing in a 401k or IRA and forgetting about it. ‘Ahh … just let the pension fund chiefs or the mutual fund managers worry about it.’ Don’t worry.

Ladies and gentlemen, we are talking about your nest egg. Growing, caring and nurturing your tomorrow is a business. In effect, it is the ultimate business.

You want to ensure that you live a long and happy life, and that you expire before your money runs out.

The Wall Street crash of 2007-2010 is still fresh for most of us. Ten years later, we are enjoying the fruits of the longest bull market in American history with a record low, full-employment Department of Labor unemployment rate of 3.5 percent.

Time to put up our feet? Hell, no.

Manage Rather Than Be Managed

“Stewart had no special Wall Street knowledge, as he was the first to admit. What he had was a nose for a scam, and an uncanny ability to articulate what the rest of us were feeling.” — New York Times columnist, Joe Nocera

Recognizing that Jon Stewart is a comedian, not a stock market analyst or technician, he is nonetheless still right: “Our wealth is work.”

Part of the task before us is to understand completely a very simple question: How does a company makes money?

Please allow Almost DailyBrett to speak ex-cathedra: If you do not understand how a publicly traded company makes mula (e.g., McDonald’s makes hamburgers and feeds 1 percent of the planet each day), then you are gambling on a stock, not investing.

Remember posing this question to my classes about Bitcoin.

Some students volunteered that Bitcoin is a crypto-currency … whatever that means. “It’s been going up” (and down). Currencies are associated with countries (i.e., greenback, USA; Euro, EU; Pound Sterling, UK). What country backs Bitcoin?

Nada.

Therefore in your author’s portfolio, there is no place for Bitcoin or any other Ponzi Scheme.

Stewart publicly undressed Cramer because the former believed the latter’s network (e.g., CNBC) was not doing enough to protect retail investors, particularly those who were experiencing the daily assault on their portfolios between 2007-2010.

Most of us wish to forget that time, and yet we took the steps to manage our accounts and protect our nest eggs. We chose to manage instead of being managed.

Maintaining and building wealth requires us all to work, to stay alert, and have a healthy batting average when it comes to making our financial decisions.

Stay alert. Stay engaged. Stay the course.

http://www.cc.com/video-clips/iinzrx/the-daily-show-with-jon-stewart-jim-cramer-pt–2

http://money.com/money/3982267/jon-stewart-5-best-money-moments/

https://almostdailybrett.wordpress.com/2019/09/15/how-blue-cross-saved-my-bacon/

Almost DailyBrett has never dunked a basketball, and never will.

Not enough height, hops and hand-circumference.

Palm a basketball? Forget it.

There are many people for a wide variety of endeavors, who just can’t.

And many times they bravely try anyway.

Which leads your author to those, who won’t.

They have the talent. They have the knowledge. They have in many cases extraordinary opportunity …Some even won the biological lottery.

But … their attitude. Their stubbornness. Their lack of motivation. Their gaming of the system are all symptom of … won’t.

The Best Economy in 20 Years

“It’s the economy, stupid.” – Successful Political Campaign Consultant James Carville

The help wanted signs are everywhere.

According to the U.S. Depart of Labor’s Bureau of Labor Statistics, the national unemployment rate stands at 3.9 percent or about 0.4 percent above full employment.

We have a labor shortage — not for just jobs with wages — but positions with salaries, a full array of benefits and maybe equity opportunities.

Our service oriented economy is in full gear with GDP growing at 4 percent and inflation hovering around 2 percent.

And yet there are so many out there (particularly lame males of the species), who still pretend the economy is mired in the 2007-2010 “Big Short” crash-and-burn mode.

Jobs did not exist back then, not even tasks (e.g., fast food) that many men type believed then and contend now were/are below their pride.

Fast forward to the present day, and these men still act as if jobs/positions do not exist. According to the American Enterprise Institute, up to 32 percent of working age males (20-54 years young) are voluntarily not working.

As Almost DailyBrett has mentioned before, these hombres are typically sleeping in until 11 am or noon, playing video games/binge watching for an average of 5.5. hours per day (e.g., Fortnite, Dungeons and Dragons … ), before happy hour/evening intoxication.

Do you think that someone obsessed with video games/binge watching could quite possibly be adept at software coding for a major publicly traded technology company?

Sure … but …

Ten years ago when the nation was mired in its worst economic downturn since the Great Depression, the national labor participation rate was 65 percent. Today during a boom, its 62.9 percent.

Yep, the economy went from depressing recession to robust economic expansion and the percent of Americans working went down … 2.1 percent or about 3.2 million workers.

Can you imagine the increased productivity and tax revenues if 3+ million workers entered the workforce en masse?

In-lieu of an increase or decrease in tax rates, what would be the impact be on the nation’s bottom line if all of these people were filing tax returns under existing rates each spring?

Instead of never-ending arguing about tax legislation wouldn’t it be more productive to focus on increasing the number of taxpayers?

Scared Of The Service Economy?

As America has matriculated from an agrarian-to-manufacturing-to-a-service-oriented economy brute strength, ignorance and testosterone has lost value. The upswing has been enjoyed by the fairer gender, albeit pay rates are not at parity.

As a result way too many hard-working women who can are supporting far too many sedentary men who won’t.

What would happen if these women realized they would be better off without these parasitical men?

What if they threatened to drop the hydrogen bomb and declare to their young retirees: “you can and you must” learn to add value to the service economy.

Yes, there are some who can’t … but not all of the record 9 million souls on disability. Is there really nothing some of these recipients can do to participate in society to make a difference? Are all of them just waiting for that day when they can’t operate the remote or video game controller?

In some cases for idle men, it’s just plain old arrogance. They appear to be rising out of their respective chairs to go out and find a job, but for some reason … that dog just won’t hunt.

These men can, but they won’t. There is always an excuse.

“I have to sign a document.” “I have to urinate in a cup.” “I have to …

How do you spell the word, F-R-A-U-D?

https://tradingeconomics.com/united-states/labor-force-participation-rate

 

For the first time in the planet’s history, women are poised to serve as heads of state for three-of-the-five largest economies of the world: Angela Merkel, Kanzerlin of Germany; Theresa May, Prime Minister of the United Kingdom; Hillary Clinton, President of the United States.hillarytheresaangela

And let’s not forget the head of the U.S. Bank is Federal Reserve Chair Janet Yellen.

It’s great news for women as yet more glass ceilings are finally being broken on both sides of the pond … but the question needs to be asked: What’s not-happening with far too many men?

Is the rising tide for women raising all boats? The answer is far too men are up a creek without a paddle or at least that would seem to be the case.

Do these men even care?

Should they care?

What’s to become of this now troubled gender demographic?

The author of Almost DailyBrett grew up during the Pleistocene fully anticipating that he would support his spouse and assist in the raising of a family.normanrockwell

As a GEICO ad suggests, “It’s what you do.”

Or should we now say, “It’s what many of us used to do?”

Columnist and über-brain George Will recently wrote about the “quiet catastrophe” of one-third of working-age American men who are by choice “economically inactive.” The vast majority of these underachievers are idly sitting around day-in and day-out watching a daily average of 5.5 hours of TV, playing video games, and checking out digitally streamed movies.

In the meantime, the so-called “little woman” is out there working not to just “Stand By Your Man” as Tammy Wynette would suggest, but to fully support her idle spouse and her family too.

Almost DailyBrett was downright surprised to hear about women justifiably complaining about being required to support not only their children, but their lay-about husbands/boyfriends as well. According to the OECD, the United States leads all industrialized nations in inactive 25-54 men with the exception of Italy (Le Dolce Vida).malevideogames

The official Department of Labor Bureau of Labor Statistics first-Friday-of-the-month “jobs report” released for October 2016 reported a 4.9 percent unemployment rate, 4.6 percent for adult men and 4.3 percent for adult women.

These somewhat-positive numbers are unfortunately deceptive, unintentionally painting a rosier picture particularly for men. These results reflect only those who are actively participating in the labor force (e.g., employed, underemployed or out looking for a job) … and those numbers are declining.

Since 1948, the proportion of men 20-and-older without paid work has doubled to nearly 32 percent or one-out-of-every-three-working-age-males.

How many men aged 25-54 are not pounding the pavement? What’s their future? Are they merely running out the clock until the Grim Reaper arrives?

What’s on Netflix anyway?

“Economically Inactive”

“In America today, compared with 50 years ago, three times as many working-age men are completely outside the work force … Feeling superfluous is a blow to the human spirit. It leads to social isolation and emotional pain, and creates the conditions for negative emotions to take root.” — The Dalai Lama and Arthur C. Brooks

“Donald Trump is perhaps perverse evidence that some of his army of angry men are at least healthily unhappy about the loss of meaning, self-esteem and masculinity that is a consequence of chosen and protracted idleness.” – Washington Post Columnist George Will

Nicholas Eberstadt’s new monograph “Men Without Work: America’s Invisible Crisis” points to Social Security Administration stats that revealed one disabled non-worker for every 134 workers in 1960. Fast forward five decades and the number falls to one disabled non-worker for every 16 workers in 2010.couch-potato

Worse, in just seven years the number of those on disability has risen from 7.4 million in 2009 to a record 8.9 million now, a 20 percent increase. As a result of government assistance and support by other family members (e.g., women), Eberstadt said these non-working men between 25-54 years of age “appear to be better off than tens of millions of other Americans today, including millions of single mothers who are either working or seeking work.”

Almost DailyBrett does not want to be charged with merely stating the problem without offering a solution. The first point in developing a strategy to entice these males to get off their derrieres lies with the fact that the world does not value brute strength, ignorance and testosterone as it once did. Get over it.

The second is the service-driven economy is technology driven. If women can learn software and hardware, so can men.

The third is that men have been known to be competitors. It’s time to take a step back … yes, a step back and pick up the skills they need to succeed in this changing world.

As a college professor, the author of Almost DailyBrett arrives each morning and is greeted by women majority classrooms. They have rightfully chosen to compete and engage in lifelong learning. There is no reason why men can’t pull themselves away from the TV or video game console and do the same.

It’s no longer a “Man’s World,” but that should not mean the Battle of the Sexes has been won by one side at the expense of the other.

https://www.washingtonpost.com/opinions/americas-quiet-catastrophe-millions-of-idle-men/2016/10/05/cd01b750-8a57-11e6-bff0-d53f592f176e_story.html?utm_term=.d5320fbd3c83&wpisrc=nl_opinions&wpmm=1

http://www.bls.gov/news.release/empsit.nr0.htm

http://www.newsmax.com/Newsfront/social-security-disability-depleted/2013/12/17/id/542390/

https://www.tammywynette.com/

https://www.washingtonpost.com/opinions/jobless-by-choice–or-pain/2016/11/27/7075c720-b189-11e6-840f-e3ebab6bcdd3_story.html?utm_term=.7abf606ef0ef&wpisrc=nl_opinions&wpmm=1

 

 

 

 

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