The left has been predicting doom and gloom since 2009, to no avail. In 2010, during the first wave of the European debt problem, the left predicted that Greece would pull the rest of the world into a recession; with the market indexes at record highs, that prediction was obviously wrong. Economically, with an economy no bigger than Rhode Island, Greece is a drop in the bucket. There won’t be crisis or anything like that, just the usual leftist drivel about stocks being overvalued and overbought. If investors were worried about debt, bond yields would be surging – and they obviously aren’t. While the left is preoccupied with stagnation, wealth inequality and the debt being too high, Silicon Valley is booming. My home keeps going up everyday in my neighborhood, too.
Video bloggers like pewdiepie and Jenna Marbles are making millions of dollars in an economy that left insists is dead because not enough people can find jobs or the jobs aren’t paying enough. Meanwhile, coders – some without college degrees – are making six figures a year; others are becoming multi-millionaires starting their own apps. VC firms are making billions as valuations for companies like Snapchat and Uber rise to no end. Apple, Google, Microsoft and Facebook have a combined market cap of $1.5 trillion, but the PE ratio of the S&P 500 is still just 17, versus over 40 at the height of the 2000 tech bubble. The white-hot Bay Area real estate market, with prices up 50-100% since 2012, shows no sign cooling. So you can’t look at all this prosperity and say with a strait face that America is in decline, because it obviously isn’t. If you’re not smart enough to succeed in America’s post-2008 hyper-meritocracy, tough luck. But for those who are smart enough to thrive and for those who can see beyond the doom and gloom, America’s best days are ahead.
The post-2008 tech boom will continue in perpetuity, culminating in the transition to a type-1 civilization, transhumanism, and the creation of a Matrix that will resemble the one in the movie. The Kingdom of Heaven is the Kingdom of Wealth & Technology, extending to a horizon as vast and wide as the mind can conjure, ruled by a post-mortal technocracy. Biological determinism isn’t just a staple of science fiction – it’s reality. The future is today – albeit with more inequality, more technological progress, and higher valuations. In a form of manifesdestiny 2.0, tech valuations are destined to keep rising because of the economic value created by the cognitive elite, and through rising asset prices (expensive real estate, stocks) the cognitive elite are enriched for the economic value that they create. America is becoming richistan, successistan and IQ-istan, and the left is left powerless reverse this, their cries for crisis still unanswered as the American economic hegemony consumes the world, becoming the world.
So why should I, or anyone else, trust for economic advice the losers who have been wrong about everything for nearly the past three decades, save for a few instances of luck like in 2008?