Stock Market Surges to New Highs; The Post-2008 Economy, Part 3

To the disappointment of the libs who insist the market is rigged and the economy is weak, the S&P 500 posts another record high. Facebook stock closes above $77 on its way to $100. How much longer will stocks go up? Much longer. The Bush/Bernanke bull market, six years later, is still going strong with no end in sight. A weak job number means interest rate hikes will be delayed, which is what Wall St. wants. Also, non-farm payrolls are very volatile. We’re in a Goldilocks economy, a smartist era, and a hyper-meritocracy. Those Bay Area home prices keep going up as well. Same for web 2.0 valuations. Market forces, globalization, and technological progress is accelerating the transition to a type 1 civilization and the singularity that will unleash prosperity and wealth creation of the likes never before seen. We’re in the greatest of times for the greatest of minds and richest of people with a government and fed policy hellbent on serving them.

The pre-2008 economy and post-2008 economies are like night and day. The former had high interest rates, periods of high inflation, tumultuous boom/bust cycles, an overbearing congress, cheap healthcare and gas, high taxes and excessive regulation. Before 2008, the premium on higher education and IQ was smaller and there was much less competition getting a job. The influx of young, upwardly mobile high-IQ foreigners, while ongoing for decades, didn’t really pick up until after 2008. You have this dichotomy of middle-America are grumbling about the perpetually weak labor market, stagnant real wages and loss of retirement security and yet at the same time you have this mad stampede of foreigners trying to get in to attend our most prestigious institutions of higher learning and fastest growing tech companies. So it’s like, yeah, you think America sucks, but it’s you that sucks, not the country. Get smarter, get a better degree, earn more money and maybe it won’t suck. That’s what these foreigners are doing; they have the skills to succeed that many Americans don’t.

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