Skeets, Actually, the new economy wasn't all hype. It was and is real. Investors, as always, overestimated expectations, with the Fed and Wall Street enabling their fantasy. The Nasdaq is probably pretty fairly priced now. We already had a repeat of the stock market bubble in the real estate market and the energy market. So, we are VERY likely to get a repeat bubble in some other area. The question is not whether you get a bubble, but whether the revenues go to reduce Federal deficits or to increase them, as Bush has done so well.
Supporting education, which Bush hates with a passion, is one way to support innovation. Obama is pro education. Supporting universal health care, another Bush hate topic, is a major factor in innovation, not only in new drugs and treatments, but in the health of those who will eventually come up with the bright ideas. Ask yourself, how was the Soviet Union, with a lousy economy, able to beat the wealthy United States into space? Easy, with education and health care.
A stronger dollar, of course, represents non-fictional interest rates. Does anyone really think the rate of inflation is lower than or equal to T-Bill rates?
What are you betting on? Even Big Brown is not a sure thing in a race against mediocre horses. <G> |
