Yesterday, an airplane blew up. Today, it’s the accounts of anyone that shorted the market thinking this was anything but a blip. I wrote that the sell-off would be a good buying opportunity, and sure enough it was. All the major indexes recovered yesterday’s losses. Wealth spreading liberals lose again. It must suck to be poor and stupid. Dow 18,000 end of year minimum. S&P 500 going to 2,000. Major pain at the pump going to get worse. Obama’s polls will keep falling, and the dems will lose many seats in the midterms.
The market keeps going up because of the economic value created by smart people and to reward the smart people for the value they create – a virtuous cycle. The tireless consumer -both in the U.S. and abroad – also plays a major role. Despite the best efforts by the liberal media to scare people into not spending, the consumer refuses to roll over. Outside of the doom and gloom media, no one cares about the airplane or Putin. Smart people will keep making money and innovating. Rich people will keep buying Bay Area homes.
Biological determinism means those who are cognitively unfit to thrive in this economic boom and hyper-meritocracy will fall between the cracks. This morning, watching this TED talk about the predictive value of standardized tests reassured me that the markets would surge, because smart people rule the world and they won’t let the market fall for very long. When taken to its logical extreme, the implication of the video is that below a certain threshold, you are unworthy of life – except for consumer spending and some forms of menial labor.
The left wishes this weren’t so, but the evidence presented in this talk is insurmountable.
The good news is that even these low IQ poor test-takers can contribute to the economy. In today’s economy, economic value is created in many ways – some not so obvious. Uploading pictures to Facebook, tweeting, taking selfies with snapchat, racking up points on Candycrush – these activities do create economic value, and millions of Americans, including the unemployed of mostly low IQ, use these services to consume, communicate and whittle away the time. The companies of these aforementioned activities are worth billions, so there is a lot of economic value being created through social media engagement, even though many people dismiss it as a useless waste of time.