Biden Jets Out for One Last Vacation
Watch a Teacher's Letter Attacking Pro-Trump Family Members Blow Up in His Face
Look What These Israelis Used to Make Their Menorah for Hanukkah This Year
Libs Demand Congress Do Something That Was Considered an Act of Armed Rebellion...
Federal Appeals Court Rules Against Law Barring Nonviolent Felons From Owning Firearms
British Transport Police Sued for Allowing Trans-Identified Males to Strip Search Women
Workers in This State Just Won the Right to Bring Their Guns to...
Here's What Has Jen Psaki Raking Democrats Over the Coals
Former Democratic Presidential Candidate Throws Hat in Ring for DNC Chair
Russia Blamed for Devastating Airline Crash That Killed 38 Passengers Near Ukraine
Celebrating Media Mayhem with The Heckler Awards - Part 3: The Individual Categories
Biden Orders Pentagon to Deliver More Weapons to Ukraine Just Weeks Before Leaving...
You Won't Believe What Happened at This Phoenix Airport on Christmas
Texas Woman Arrested and Charged After Authorities Made This Horrifying Discovery
Man Arrested for Attempted Murder After Plowing Car Through Group of People on...
OPINION

The Morons (not Stooges) Make Financial Policy!

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

With the most recent announcement of Non-Farm Payrolls once again it is clear that when God said I am passing out “brains” future Federal Reserve officials thought he said “here come the rains” and all headed for shelter.

Advertisement

In the most recent FOMC minutes the members are quoted as saying ”The labor market was now closer to what might be considered normal in the longer run”.

This statement will rank with Greenspan’s-I didn’t see it coming and Bernanke’s-National housing prices never go down and sub-prime is well contained.

I believe we need to have a better understanding of what “normal” means.

The latest participation rate has dropped to its lowest level since 1978 and the people not in the labor force has risen to an all time high of 92.3 million.

Of course, according to Janet Yellen, the majority are enjoying their baby boomer retirement in the Hamptons, Scottsdale or Boca Raton. Janet obviously hasn’t been to a Walmart lately as Greeters are now using their walkers for support after a long day on the frontlines.

I am not sure how normal it is that according to Freelancers Union, a non-profit organization, 34% of the nation’s workforce, 53 million people, could be considered Temp, as they are freelancers, independent contractors, moonlighters and street corner entrepreneurs.

One of the most recent additions to the Federal Reserve Board said she expected the unemployment rate to be at 5.5 by the middle of 2015 based upon the continuing job recovery. Surprisingly I concur as the most recent report corroborates there were no, I repeat no manufacturing jobs created. Of the greatest paying jobs, finance and information, seasonally adjusted a paltry 4,000 jobs were added. Therefore, we can expect the participation pool to continue to decline and the unemployment number to decline with it. That’s just simple mathematics.

Advertisement

Halleluiah happy days are here again!

Even the three stooges would be embarrassed by the Federal Reserve’s idea of normal. Curly, Larry and Mo were three very financially savvy and astute stooges.

Unfortunately, we long for the stooges but we got the morons and normality has taken a different direction.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos