We are back to work after America has taken a so-called “Labor Day” off. Now, where I come from, every day except Sunday is a day of labor.
The nonsensical practice of calling a day of rest “Labor Day” is an example of how the entire concept of labor is overblown and outdated in the current economy. Labor, the only marketable asset for the majority of Americans, should not be commemorated with idleness. If the American worker really wanted to celebrate the market impact of his or her labor, he or she wouldn’t be spending the day eating hamburgers and guzzling beer while hard-working Chinese laborers are spending the day increasing their market value.
Instead of a Labor Day, we should have a “Market Adjustment Day,” where those of us who have to tally the rapidly increasing cost of the woefully market-unfriendly American worker get to make the adjustments they need. Do companies in my portfolio have factories or offices in states with higher-than-average minimum wage? Not after Market Adjustment Day. Go ahead and throw another hot dog on the grill, Goober. I know a few Indonesian grade-schoolers who will do the same job for a fraction of the pay and they can start while you celebrate your “labor” with slothful indulgence.
What I would rather do to end the summer is to watch my stocks rise as the fat is trimmed from American business. These so-called hard working Americans need a day to be smacked in the face with the realities of the market, and going into the fourth quarter leaner and meaner would only be a boost to American business.