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10,759.43. That is where the Dow Jones Industrial Average closed today, December 21, 2004. It has not been so high since June of 2001. NASDAQ is also 2,150.91, right at the same level of June 2001. That is a healthy level, and it shows glowingly that our President and his economic policies are just the soothing balm that the economy needed. As President Bush said right after the Sept. 11th attacks, we were hit with the "trifecta" of war, recession and national emergency. The people have added up the tally, and realized that the elite left was responsible for the entirety of our problems, and since our President has entered office, conservative common sense has made substantial gains in Congress and state governments. Now W has the mandate he needs to effect true change to some of the dinosaurs of this country’s failed dalliance with socialism. The first will be Social Security.
"The markets realize that, within a year, there will be a substantial private investment component to Social Security, no matter how the semi-communist Democratic party wants to twist it."
The markets realize that, within a year, there will be a substantial private investment component to Social Security, no matter how the semi-communist Democratic party wants to twist it. By the time that the 2006 mid-terms come up, they will be the fools of the universe, since the private retirement accounts will have driven the Dow to at least 20,000 and Nasdaq will be at least 4,700. That money will lead not only to well-capitalized and healthy companies that return well on investment, but to innovations the likes of which we cannot yet fathom. Remember the second and third Back to the Future movies? Expect to see some of their toys become real.
As this innovation once again changes the American business landscape, more people will make more money, and more of this money will go into these accounts, and this money will continue to capitalize the businesses of this country, and soon the world, as we realize that there is so much money that we cannot possibly invest it only in the United States. The entire world will see a rise in its standard of living because of conservatives, led by George W. Bush!
The leftists cannot understand this. They think of non-liberals and non-elites as semi-sentient morons, incapable of living life without their "help" -- which in reality means their control. They have used Social Security and Medicare as the twin Swords of Damocles over the heads of our wise older citizens to terrify the votes out of them. Once that the Boomers and Gen-X generations see the effect of private investment in terms of $100,000+ annual retirement income (many may retire to a greater income than realized during the working years), the left-wing agenda will continue to die.
George W. Bush has the iron in the furnace now, and sometime around January 21, 2005, out it will come to be beaten into the powerful sword of mandated change. I personally expect to see the finished Social Security reform to emerge within nine months, and Christmas 2005 will see a Dow of 13,000 and a Nasdaq of 3,000, as the first of the retirement fund money hits the market.
"The leftists will carp that this is the rich people paying their rich stockbroker friends off with the hard-earned money of the working class. Classic Communist horse dung it will be, but we shall surely hear it."
The leftists will carp that this is the rich people paying their rich stockbroker friends off with the hard-earned money of the working class. Classic Communist horse dung it will be, but we shall surely hear it. In reality, we know that the GOP will head this off by prescribing that all investment funds for the retirement money will be no-load. That means that the fund managers will make their money as a percentage of the return they earn for the workers. I predict that there will be between five and 300 funds qualified to be selected by the wage earner.
That competition will belie the leftists’ argument, as the fund managers fight hard to keep the money in their funds by outearning the others, exactly the way that current no-load mutual funds do. In essence, the United States will be funneling the people’s mandatory retirement tax to private mutual funds.
"Will the fund managers make money? Yes. Some of them will, if they perform well, be rewarded by becoming rich beyond the dreams of avarice. They will put their own money into these funds and will earn like never before."
Will the fund managers make money? Yes. Some of them will, if they perform well, be rewarded by becoming rich beyond the dreams of avarice. They will put their own money into these funds and will earn like never before. As companies become very flush with capital, they will innovate and invent and produce and our lives will become better and easier. Want the capital to build the environmentalist’s dream of a zero-pollution car? Well, here comes the money! As the inventions come out, the people will buy them.
Doubt it? Well, if someone told me in 2000 that I could transcribe a vast collection of music, ten thousand songs, into a 6 ounce device that fits in my pocket and still has high fidelity, I would have thought them crazy. Yet there is the iPod. My cell phone browses the Internet and sends/receives email, anywhere. My VCR finds out the exact time and sets itself. My kids are bugging me to get the Playstation 3, which will cost $400 and have nearly twice the power of a supercomputer from 2000! You can get better-than-theater quality HDTV football games for free over the air, right now, complete with surround sound, in your own home. The gear to make it happen is less expensive than dinner for two at a decent restaurant. My wife’s minivan has a DVD player with wireless headphones in it, factory installed, at a low cost. This means my kids are happy when we drive to Wisconsin.
This kind of innovation is driven by capital. This Social Security reform puts that capital where it will earn the most -- in the hands of companies looking to use it to generate profit. Liberals, realize that "profit" is not an obscene word! What is better, using this money to pay for a bloated inefficient bureaucracy, and government programs designed to put the country’s thumb on the neck of the people, or to pay for innovation that will make the dependent into the productive, and thus generate three times the revenue in the form of new taxpayers?
The market is showing that it realizes that this money is coming. Companies that can innovate will ride a wave of success that will make the biggest booms of the past look like depressions by comparison. Mr. President, you have the mandate! Spend that political capital and we’ll all flourish!