Grab the cash and get in the game but understand it is a game. Until there is a cease fire in the war on business, a full recovery will not happen. There will be no cease fire. In fact, the administration is reloading. The biggest amount of casualties will be in small businesses. In the meantime, on Main Street the campaign to de-stigmatize dependency on government while publicly embarrassing people that work hard to achieve will only mean fewer start-ups, larger deficits and less innate talent evolving. I've seen this first hand in a microcosm, and now I'm watching it play out throughout all of society.
Very few people are looking to hoard vast amounts of money, but with taxes on investments ready to make a quantum leap, we will see less participation by those with means and less risk by those with limited resources. That means more dependence on government, which means larger government. I was out and about this weekend and can say rich people were spending gobs of money and not-so-rich people were collecting it. Its part of an economy built to last. Today, Apple will join those rich New Yorkers in spreading the wealth. In some ways it's a sign Apple management doesn't see Armageddon around the corner, and by the same token, it's also a sign that a system designed to encourage investment can create wonderful results.
Now that Apple is hoarding less money and banks will hoard less money and businesses also put cash to work, I can only hope this administration stops hoarding the notion of American Exceptionalism and reminds the country we don't need hope when we have the ability to make it happen; just looking for a green light to be the best. If only something like that happened, something like real tax reform that lowers taxes, something like less attacks on families making $250,000, something like allowing for more oil drilling and something like praising hard work instead of encouraging sloth.
If some of those things happen, I will shout "crikey" and not mean it as an expression of anger. But, for now Ginger, don't hold your breath.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 24th, 2014 | John Ransom
In Other News: List of "Useless Government Spending" Strangely Doesn't Include Biden's Salary | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 22nd, 2014 | John Ransom
In Other News: Massachusetts School Board Moves to the Right of Democrats - Becomes Socialist | Michael Schaus