Post-QE, The Economy is Still Fundamentally Sound

The news cycle is pretty much moribund, especially now that Ebola is smoldering in Africa, having failed to destroy civilization as the left hoped it would. The fed officially ended QE, a non-event given the fed had been planning this as far back as May 2013. Despite the doom and gloom, QE was a resounding success, boosting stock prices, confidence and economic activity. It’s hard to put exact figures on the numbers, but the economy is better off with it than without QE.

Goldman, to their credit, is backing the republicans, having long ago abandoned support for Obama. Obama is anti-business, and they know it. Thank Bush, Bernanke, and Paulson for the post-2008 slow, but steady economic recovery. Obama is a hardened welfare liberal and that’s all there is to it.

Someone replies

And let me guess: thank Israel for the glorious stability we’ve seen in the Middle East? Also, do you honestly believe the economy is recovered? Most college graduates I know are still either working for chump change or have McJobs. The cost of everything keeps rising. We’re in Weimar.

I hate to be the bearer of good news, but thanks to smart people, the economy is still fundamentally sound. Has he seen the blowout tech earnings? Apple, Facebook, Google, etc etc. Profits & earnings at record highs. Multinationals, biotechnology, and tech are printing cash. Those college grads who cannot find work should major in STEM and learn to code instead of whining about imaginary economic weakness. That’s where the good paying jobs and opportunities are. Web 2.0, Bay Area real estate, and buying stocks on the dips – that’s how people are getting rich in the smartist era.

Biological determinism and social Darwinism means that those who fail to participate in the unending, post-2008 wealth creation boom are failing by virtue of not being smart enough. Instead of biology, the left blames environmental factors such as crony capitalism, the rich, greedy corporations, Congress and other targets. The labor market is becoming bifurcated into one of skilled, good-paying jobs for those who are smart enough to obtain them and low-paying service sector jobs for everyone else. Even for the libs that acknowledge this economic reality, their solutions – which consists of regulation, tax hikes, and raising interest rates – are counterproductive because attacking the most productive members of society and the supply side programs that benefit them is recessionary. If interest rates go up too quickly the economy may enter a recession, and jobs will be lost and wealth will be destroyed.

Comments are closed.