In the six years that have followed the bank bailouts, fed doubters have egg on their faces as the US dollar and treasuries post huge gains. To quote Joe, policy hasn’t been perfect, but we’re seeing how smart the U.S. was to ease aggressively early and hard.
That’s just one of many reasons why you don’t want to bet against America and the best and the brightest who run the fed and the treasury and who are employed at America’s most innovative companies like Snapchat, Uber, Dropbox, Google and Facebook. Silicon Valley, MIT, Caltech, Wall St. as well as private equity, VC and hedge funds…these are institutions that reward talent and IQ. And its rubbing off on the rest of America, making the country collectively smarter and more conservative.
The smarties are winning and the wealth spreaders are losing as retail sales grow at fastest pace in four months in August.
In August, growth in retail sales increased 0.6% over the previous month, in nominal terms. The print came in above the 0.3% expansion recorded in July (previously reported: +0.0% month-on-month) and matched market expectations. It marked the strongest result since April. The increase was mainly driven by higher sales at miscellaneous stores, motor vehicle and parts dealers, and sporting goods stores. Sales at gasoline stations registered the only notable decline.
The consumer is not maxed out, as much the left wishes it were. If the consumer were ‘maxed out’, it would fit perfectly into their narrative that wealth inequality is bad for the economy, but instead the libs are wrong as they always are, and their shrill cries for crisis are still being ignored.
Biological determinism is inescapable and unstoppable. The left is waging an unwinnable war on reality – a reality that the post-2008 economic environment is one that heavily favors high-IQ, and that no amount of good intentions and spending will close the widening achievement and wealth gap. Murmurings of biological determinism are all over the internet on sites like Reddit and 4chan. In time, it will be deafening. The left will be dragged to this ‘new era’ kicking and screaming while clutching dearly to their cherished beliefs until those too are are pried from their hands and stomped to smithereens. America über alles. One nation under technology, surveillance, and a free market. That’s why it’s time to buy stocks. It’s why IQ is important and the singularity is near. Tuning, which is the ability to alter physical reality in a way that is consistent with the laws of the universe, will be available to type 3 civilizations.
A San Fransisco tech billionaire oversees Google workers, with the Transamerica building in the background.
Still no recession in the Bay Area. There’s a story of someone who bought a home in San Francisco in 2010 for $550k, recently put it for sale at $850k, and is still getting offers everyday. He could sell it for as much as a million. But Shiller, a liberal economist, says there’s a bubble. Or did it ever occur to these perts on the left that home prices in the Bay Area are surging not because of irrational exuberance, but because of strong regional economic fundamentals, techies rich from the web 2.0 boom, private equity, and rich foreigners? That’s the reason, not because of a bubble, and prices will keep going up for many, many years to come.
And to end with a question to ponder, ‘If genes control our fate, do we want the fate our nation to be in the hands of the least evolved?’