Submitted by Jeffrey Snider via Alhambra Investment Partners,
Commentator Bill Kristol of the Weekly Standard reignited a fierce debate this week, though it seems like he correctly surmised at the time anonymity would have been preferable. Speaking with author Charles Murray, Kristol echoed a sentiment that has been underneath a lot of what passes for analysis these past few years of the ‘rising dollar.’ Being one prominent Never-Trumper, the most prominent, in fact, there is a fair amount of disdain that is political more than pure economic interpretation. It was the disillusionment, after all, of the working classes who delivered Mr. Trump his current Pennsylvania Avenue address.
If you google ‘job openings’ chances are very good that in almost every one of the news articles that comes up the words ‘skills mismatch’ are prominently placed. It has become something of an obsession in official circles, to which Kristol is apart, because how could it be any different? After massive infusions of ‘stimulus’, the economy never caught fire even though it was supposed to at several points along the way. The JOLTS survey of BLS configured data has been at record highs for several years, surging in 2015 as the economy fell off. Therefore it must be something wrong with workers rather than the economy the ‘experts’ worked tirelessly to bring about with the best-designed programs in history.
You can make a case that America has been great because every – I think John Adams said this – basically if you are in free society, a capitalist society, after two or three generations of hard work, everyone becomes kind of decadent, lazy, spoiled – whatever.
This post was published at Zero Hedge on Feb 11, 2017.