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| 2012-02-03 08:04 |
POTATO FIELDS FOREVER
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"I'm not concerned about the very poor. We have a safety net there, if it needs repair, I'll fix it." Mitt
Romney
Why do the media leap all over any comment that puts the spotlight on the poor? I
sincerely believe there is a Faustian deal between the "poor" and those that would "protect" them that's resulted in generational poverty. The first
trick is to get people to believe they are part of a class, in this case, the poor class.
The second trick is to get them to tie their futures to those of their neighbors, so instead of overcoming hurdles of life to achieve
success they are anchored to communities where the pressure is to play the victim card. While there is strength in numbers, there is also weakness and
the urge to be bold.
 What we're facing in America over the course of this year isn't new and, in fact, has
been part of the fabric of western civilization for centuries.
The Peasant War
I really hate the idea we are a nation of classes
when we are, in fact, a mobile nation where people move up and down the economic ladder. You can be born poor and die rich and vice-versa in this
country, and it has less to do with class and race than grit and determination. In fact, Tocqueville marveled at how Americans from each economic
bracket thought they could be rich in this nation.
In Europe you were born into a class and that's where you died. This is the backdrop for
the original wars over class and opportunity.
In 1524 a petition titled "Twelve Articles" was presented to the Holy Roman Empire on behalf of
Germany peasants. The leader of this movement, Thomas Munzer, claimed to have been penetrated by divine will. Yet, the movement morphed into a secular
battle that saw peasant insurrections including one at Muhlhausen in 1525 that dissolved the town council, confiscated Church property and created a
communistic community. That uprising was put down and Munzer was tortured and executed. Yet, this was the last uprising in Europe before the French
Revolution, and its roots are said to have influenced Karl Marx and other socialists and communists.
German peasants were seeking the
abolition of cattle tithes, a death tax, and to preserve all common fields, forest and water so they could also hunt and fish. These were reasonable
request, and there was indeed a class system in 16th century Germany that meant success in life was decided at birth. Today's America is not 16th
century Germany where the class system was entrenched:
Princes
Lesser
Nobility
Clergy
Patricians
Burgher
Plebeians
Peasants
The very poor in America are well taken care of and live a lifestyle
better than the overwhelming majority of the rest of the planet. Poor Americans get gout, once called the "rich man's disease" and diabetes from
obesity. I had a great interview with Tucker Carlson on Payne Nation last night, and we discussed the difference between the very poor and working
poor. I've seen it first hand, and it's where the Faustian deal often begins and is acceptable. One person works for low wages and lives in the same
neighborhood as someone that doesn't work but has all the same stuff. At some point a decision has to be made, and all too often it's for the working
person to join the club, get political cover and a steady check and benefits.
Mitt Romney and President Obama should be concerned about the
very poor because they stopped believing in the greatness of America. They can't see what has been a key fabric of our country going back to the visit
from Tocqueville. But it's not our pity they deserve but a serious hand and push to get into the mix. If President Obama insists this is an unfair
nation because high school dropouts aren't corporate CEOs and people that can't pass drug test don't get jobs driving long haul tractor trailers then
I say fine. Let's go with that notion and make a new pact to replace that Faustian deal.
Everyone gets a fair shake and no excuses
or finger pointing afterward
I think it's a better tradeoff that puts pressure on everyone to stand and deliver rather than sit
back and collect a check and still somehow be a victim in this great country of ours.
"I'm gonna go down in history
as being one of the best music men and businessmen in entertainment ... The people that I'm going to be greater than are Steven Spielberg, David
Geffen and Clive Davis." -- Diddy
Listening to Ben Bernanke calmly talk about his ability to stem a massive tidal wave
of future inflation brought to mind some of the cockiest quotes I've ever heard. In the world of sports and entertainment, arrogance is said to be a
key component toward achieving success, but we all know it's the main reason for many a spectacular fall from grace. I cringe when the Chairman of the
Federal Reserve says he could simply sell assets or dip into a magic bag of tricks and no matter how much momentum is behind it, stem the rise of
inflation. These days, everyone is a star and learns how to speak in public and gets handlers, and it feels so much like Hollywood.
I wonder if
the glare of that fame part of the gig is getting to Bernanke, or does he really think he's that good? One thing for sure is that sooner or later we
are going to find out, and I fear it's not going to be pretty. Gold is already screaming about this inevitable battle and saying Bernanke is going
down but not as the greatest Fed chairman ever, just like P Diddy isn't going to have a larger bust than Spielberg, Geffen or Clive David in the Music
Hall of Fame. But P Diddy and Ben Bernanke will share a lot in common including the fact we are going to party from their efforts.
Yes, stocks
are rocking and the Fed gets 90% of the credit, and this party is just getting started, unless those harsh anti-business policies prove too much even
with the money printers working overtime.
Jobs Number
Some are using "great" to describe the jobs numbers, and indeed
juxtaposed against expectations and such high levels of pessimism, yes this morning's jobs numbers were great. In the general scheme of things,
however, this is the kind of number that should be at the low end of the range at this stage of a recovery and presidential term.
The number
is very good and welcomed, and points to the fact our economy is cyclical.
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Disclaimer: Securities Operations Forum is providing this research to assist investors in determining when to buy and when to sell. All investment decisions are yours and as a result you could make or lose money. Securities Operations Forum, its employees and/or its affiliates and family members may from time to time take positions in the open market or otherwise with respect to the securities discussed, but not have stock ownership equal to or greater than 1% of the outstanding stock of the covered company nor does any employee of Securities Operations Forum sit on the Board of Directors of any covered company. The statements made herein include information obtained from sources believed to be reliable, but no independent verification has been made and we do not guarantee its accuracy or completeness. The statements made herein contain general information and do not constitute an offer to buy or sell any security. |
