Until enough people realize that oppressive taxation of capital formation, government intrusion into the productive sector, and the cancer of tort abuse, must be successfully minimized, the various bubbles are likely to continue, with the destruction of our most foolish investors being the result.
People on Wall Street are trained pessimists regarding these wider matters, which they have no aptitude for analyzing. Many investors who post to these threads (especially this one) also fall under this disadvantage. Call it educated ignorance-and you, yourself, are a good example.
Personally, I do not have those blinders, and I am optimistic that, in the post Clinton era, we will finally cease to poison our economy. But the road back from the political era of lies and corruption, that inspired the weak characters in the private sector to imitate it, will be a gradual process, taking several more years, and not necessarily moving in a straight line... |
