The Daily Feather — West Point
It was a bone-chilling day on January 27, 1778. A frigid wind was blowing off the Hudson. The Connecticut militia unit was marching across the river and setting up camp at what we now call West Point, New York. But did you know that it had several nominal iterations before it came to be known as what we call it today? Between 1778 and 1780, Polish engineer Tadeusz Kościuszko designed and oversaw garrison defenses at “Fort Arnold.” And Benedict Arnold’s 1780 betrayal accompanied a name change to “Fort Clinton.” It wasn’t until 1790 that Secretary of the Treasury Alexander Hamilton purchased West Point for $11,085. There, President Thomas Jefferson trained officers for the rapidly expanding U.S. army. Today, we revere the United States Military Academy because it has, “consistently upheld its mission of educating, training, and inspiring cadets to become leaders of character, prepared to serve their country with honor and distinction.”
Yesterday, two hours before a glorious March On to herald a lacrosse game, I accompanied my youngest of three sons to speak to the representatives of West Point at a college fair at Culver Military Academy. I beamed with pride as my “Bruiser” dropped his already deep baritone an octave to address an officer about his embracing wrestling as a sport, the military creed, and what serving in the armed services would mean to a boy who already loved God and country.
It might not surprise you to learn that my life as an economist/strategist mom, who publishes eight times a week, is something of an enigma to my big (19 until May 10th), middle (18), and twin littles (16). Throughout the years, this foursome has periodically asked WHY I see fit to be absent from their day-to-day lives. Aside from feeling as if my heart is being pierced with a dagger, my stock answer is: “I’ve been blessed with the opportunity to pursue a career that most can only envision living out in their dreams.”
Of late, though, the dream has been more challenge than fulfillment. The dueling mantras of “inflation is sticky” and “the U.S. job market is tight” have been on the sell-side hunt. Thankfully, revisions have come to my rescue. Payroll data is now squarely in recessionary territory (upper left chart) and inflation is being propelled solely by forces outside the control of the Federal Reserve.
To that end speak to the inner workings of Thursday’s GDP data.