Another big day for stocks. The major indexes rose 3% for the week thanks to the fed’s pledge to not raise interest rates, even as the fundamentals of the economy remain sound.
Since early 2014 or so, the news cycle has become so moribund that the media has to invent scandal and outrage where none exists. 99% of news, especially financial and political news, is chatter to fill airtime and should be ignored. Nothing beneficial can possibly come from the time wasted consuming it. According to the leftist media, the Greece crisis was supposed to cause a global recession and Ebola was supposed to be the Spanish Flu. So much for that. The one-percent doesn’t care too much about wealth inequality or the debt being too high. They aren’t losing sleep over imaginary fears of hyperinflation or about the underclass storming the gates with pitchforks. The folks making hundreds of thousands or even millions of dollars with apps or stocks don’t waste their time with the rubbish on Zerohedge, for example. People who subscribe to the delusion of doom and gloom are zombies, seeking crisis instead of brains, collectively banging their heads against the wall in an orchestrated, ritualistic fit of madness in the hope that if they persist, a crisis will bear itself out.
It’s evident the welfare left still has a bone to pick with Hillary from the 2008 elections, as it’s liberals who support Warren and Martin O’Malley who are getting the most worked up over Hillary’s emails. If there is one redeeming thing Hillary did in her carpetbagging, cattle trading, pantsuit wearing career, it’s that she is the only person who gave Obama a run for his money. She, Palin, and McCain helped expose Obama for being the wealth spreader and terrorist sympathizer that he is.
Given how detached organized religion is from observable reality, it’s not surprising the neo atheist movement is so popular, especially among high-IQ,empirically-minded millennials. Scientists and Neo-Aethists Daniel Dennett, Richard Dawkins and Sam Harris, for example, are ‘celebrities’ to large portions of the youth population, and are also correct about Islam being a threat to western civilization. The Church says we’re all equal, that you can all be saved if only you believe; no, that is wrong. Some are better than others (as in providing more economic value, being smarter and advancing humanity’s knowledge, etc). Some people are so irredeemably bad that they can never be ‘saved’, nor should they be. The rich and successful should not by cajoled by some parochial organization to donate their money to those who did nothing to earn it, out of a wish-washy concept of altruism. The Church, especially the Catholic Church, says all human life is sacred. Nope. Some will always be better than others and will be higher in the pecking order come Judgement Day. The leftists in the media are like liberal clergy, waiting for the End Times or crisis that will rapture the 99% and leave the 1% to perish. 2008 was close, but not enough. Libs lost, and will continue to lose.
Today’s liberal idiot:
PAUL TUDOR JONES: Income inequality will end in revolution, taxes, or war
Sorry, putz, but wealth inequality will keep widening, and it won’t hurt the economy. There will be no tax hikes, no revolution and no class warfare. The left can wage war through ineffectual media campaigns against the rich, but they will lose as they always have. Just because wealth inequality and profits margins are the highest since the Great Depression doesn’t prove that we will have another depression. It could just keep rising, as the underlying economic factors auguring a continuation of these trends are still in place. Interest rates never going up again. Consumers keep consuming, even as wealth inequality keeps widening. Rich people, especially rich foreigners, are compensating for any weakness in America’s middle class, in what is called the Pareto principle. S&P 500 profits & earnings, web 2.0 valuations, Silicon Valley real estate will keep rising. If you bet against the consumer, the fed, and the best and the brightest who are putting their minds to work keeping the system running with great success as was evidenced in 2008 with TARP, you will be stepped on like a cockroach. And to those who think making comparisons to America being Rome will hasten the decline or embolden their ill-founded, unsubstantiated opinions in the hope off the system collapsing and resetting to a more egalitarian state…I, we, the cognitive and financial elite laugh at you.