I think I cried in my coffee a little when I read the following headline this morning in the Financial Times:
Somali pirates' successful business model wins recruits."
According to the FT, "Rear Admiral Hank Ort of the Netherlands Navy [the Nato commander in the region] said the allure of easy riches and absence of other opportunities was increasing the number of Somali pirates, who can expect an average of $3.3 million for a ship."
In America, in order to avoid an honest living we buy gold or flip Miami condos or day-trade Nasdaq tech stocks -- or whatever the trendy object of speculation is that day. In Somalia, they take to piracy on the high seas.
Might I offer a "modest proposal"? As a way of lowering the persistently high unemployment rate, why don't we encourage Americans without jobs to take to piracy or perhaps highway banditry?
It would be a boon to the highwaymen themselves, the local retailers who benefited from the new consumer demand of the highwaymen, and to local police departments who would no doubt have to go on a hiring spree to combat the new surge in banditry. It's the perfect make-work project, and it would require no new federal bailouts for the unemployed.
So, do I hear an "Ay, matey" for this oh-so-modest of proposals?
Disclosure: No positions