I happened to be listening to one of my all-time favorite econ books Sunday and I was reminded of something we try to forget on Mondays.
Namely that in hunter/gatherer societies, people only works (on a community average) about 1,000 hours per year.
Of course, it depends on what your definition of “work” is, too.
For example, to a freeway and desk-bound human with a phone and Facebook as their primary means of entertainment, going hunting and fishing all the time could hardly be considered “work” but there you have it.
Things were considerably worse in the early days of the industrial revolution – with annual hours worked up about 3,500. Today, the US average is supposedly 2,000 hours – which is the 40 hour week with a couple of weeks of vacation.
But it’s a fine point to remember: If this is “progress” – where is all of our time off?
Worst of all, the 2,000 hours doesn’t count the mandatory “other” time. Like commuting time and such.
It’s all so the G20 boyz can do what they do – which presently is something called global synchronized devaluations.
Markets Heading Lower
.Oh, sure. You did get the memo on this, right?
As explained in Peoplenomics this weekend…we are playing an exciting game of “synthetic growth” while at the same time (wink-wink) devaluing money – which is why gold and silver are drifting upward.
Don’t look at the “Big Reveal” from the Fed data on money sloshing about – it’s a heart stopper.
Basically, when you are making up money and there is no growth, things of high utility value, like real estate and precious metals, will zoom up because (unlike “money”) they can’t be watered down.
Granted, I have been telling you the markets would likely hit new all-time highs this year. But maybe I forgot to slip in a mention that it could be purely a dilution of money effect.
You see, the great majority of American’s don’t think if anything other than nominal (what’s before your face) terms when comes to matters economic. Otherwise, more people than just us would be outraged that the present dollar only buys about 4% of what it did when the Fed came along.
That’s OK, though, since the Fed is a coping mechanism that Congress allowed to be created. Takes the Constitutional requirement they manage the country’s finances off their back and provides for plausible deniability when the tab for 114 years of free lunches comes due next year. Let’s not get ahead of ourselves, though. Just because it’s Monday doesn’t mean individually we can do much of anything about it.
Later on — tomorrow, we will get auto sales figures, but the dominating data this week will be the employment reports. Three of ‘em. Challenger, ADP, and the federal numbers Friday.
As of pixel-time, the futures were hovering around flat.
Nuts of the Northwest
Well, here we go again: Arrests in Seattle as May Day marchers take to streets.
What this begins to sound like is another “Battle for Seattle” kind of affair. And, oh yes, stupid.
You see, there is no way local uprisings like this ever have a happy ending. The cops always win because they have all the power. And behind them is the National Guard when needed, and behind that the Army, and if all else fails, there is carpet bombing on top of that.
People who turn out for such rowdyism may think it’s a show of something, but in my book, intelligence isn’t one of them.
You can hate anything you want (racism, globalism…any ‘ism you choose) but when comes down to it, asymmetric warfare only works when there is an unrecognized weapon in play. And when cell phones can be blocked, and so forth, there’s almost no chance of a (whatever uprising) to work out.
Sure, it’s one thing to bluster and organize, but unless a people’s revolution has some key assets to employ, the ending is always predictable. Oh, and people who get sucked in prove only that our education system has failed to educate.
Pounding on China
We can help but notice that Donald Trump is sounding pretty hawkish again: Trump: ‘We can’t continue to allow China to rape our country.’
This will no doubt appeal to many, especially in states that have lost so many manufacturing jobs to outsourcing from other countries.
Full Employment for Lawyers Dept.
I can’t make this stuff up. I’m simply not that creative.
And there’s a fine ending point for this morning: Proof again that the whole world is crazy and has not recovered over the weekend. \\\