It's rare that I think anything in Time magazine is intriguing, or even true, but it's become so paper-thin that I still thumb through it. After all, there are powerful people who continue to hold it in high esteem. But a headline I saw on Monday was compelling.
Not only did Time admit to the elitist nature of the Davos gathering, where people pay upwards of $250,000 to chill out with world leaders, rock stars, and other self-important folks, but it seemed to be mocking the fact that little gets done at this annual gathering. So, these are the main questions the leftist elites want answered from the leftist elites:
* Is the US recovery for real?
* Is China going to blow up?
* What will the political impact of inequality be?
* In millennials vs. baby boomers, who wins?
* Technology: friend or foe?
I can answer those questions:
The US economy recovery is real, but it's no barnburner. We aren't talking about the kind of action that would make one think steroids - this recovery is breaking no records. It's tentative and suspect, but proves just how amazing our economic system can be to stay above water and actually edge ahead, despite a war that looks to control businesses, curb entrepreneurships, and rake in greater sums to fund government and the welfare society.
Yes, China is going to blow up one day. I think we have been too focused on when China's economy will fly off the rails. It's been more than a decade already - give it a rest. We should be so lucky to have similar economic growth (real or imagined). Economic fortunes are cyclical and that can never be changed, unless you opt for one that is always down in the dumps.
Inequality is the result of political impact - this question is ass-backwards. Interference and programs that smother those on the lower rungs of the economic ladder in a paternal cloth of pity, while promoting anger instead of real solutions, have only increased the gap between rich and poor.
The baby boomers will win. Check out the so-called Affordable Care Act, that relies on the healthiest and poorest segment of the population to foot the bill for the wealthiest demographic. Young adults vote with their hearts and against their own self-interest. They are manipulated by those they trust and by their own inconsistent values, based on things like cool factors.
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Wednesday April 23rd, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Tuesday April 22nd, 2014 | John Ransom