Moreover, there are fewer deaths from starvation, where longer and more enriching lives excite the masses in all parts of the planet. One can argue over the merits of the quality of life for generations growing up on video games and social media. However, to continue to argue over free markets and the role of risk and reward in society seems pointless. Nevertheless, it should be, but it is not pointless and it is an argument that still seems to find friendly ears, no matter how much prosperity or opportunity exists. Is this why the economy is tanking? Has capitalism been sabotaged, in order to bolster the argument it is too fragile, and volatile, and that only the rich sail through good and bad times without scars?
All the hot arguments dominating the news these days are in part a cover for failed economic policy and political gain. Another part represents the notion that a social contract is a way for man to return to the laws of nature. In nature there is no greed, and animals kill what they intend to consume, and live in spaces large enough to shelter themselves, along with their brood. The idea is somehow the need for large houses, cars, or vacation homes, which takes away from humanity and makes those without into slaves to fuel the insatiable appetite of the haves versus the have-nots.
The only way to remedy this is to take from the rich, or to destroy those 'wolves' that have acquired a taste for human flesh.
Although Jean Jacques Rousseau's writing has been credited with aiding the start of the French Revolution, elements of his work are considered a basis for the limited religion expression and the limited individual wealth creation. Perhaps this is why socialism has also been a fabric of French existence, despite its abysmal track record. Even the French might have to wake up and smell the coffee. In elections over the weekend, socialists were stung with losses in scores of cities, and while they held onto Paris, it was by the smallest of margins.
Yet the National Front considered extreme right might have won up to 15 towns, adding the ultimate exclamation point!
In addition, iron and corn have freed man, which sent him on an upward spiral that saw trips to the moon and an invention of a computer chip. We have seen diseases wiped out, and now a new kind of freedom is sweeping the world through the Internet and through advances in communications. There is a serious and growing movement in the United States, which suggests that all wealth belongs to all people, but that very idea does not imply that all men should put in an equal amount of sweat and take on an equal amount of risk. Only, that somehow sharing the wealth makes us civilized.
There is a message in these election results for Americans, and one remains hopeful that the nation will not wait to recognize it. In fact, France's long, slow, and laborious decline from prominence should have that nation considering the good old days of monarchy. The fact is France needs to find its way to the real world with values, which will empower its citizens. And maybe they will finally experience a modern day realization, in relation to the true foundations of inequity and opportunities.
In the Paris suburb of Juvisy, a new mayor was elected. Robin Reda, a 22-year-old, is a political sensation, and the center-right's newest superstar in France, nicknamed the 'Crocodile.' This kid is poised for much higher offices.
Not Just the French
Election results in Slovakia saw self-made millionaire, Andrej Kiska, become the first non-communist president since the country's independence in 1993. Just as the French elections hold lessons for those hoping to champion capitalism this fall and in 2016, the Slovakia election holds intrigue as well. Kiska made his fortune in consumer credit, but reportedly gave most of it away. I can see America electing a rich person as president, but not one who inherited wealth or made it on Wall Street, or who married into money.
Nevertheless, I do think Americans respect self-made success, and in fact want that for themselves and their children.
It was a difficult week for the market but each session saw high-flying names attempt to put on the brakes. Growth names are infamous for their momentum, in both directions, and once moving in a certain direction it is difficult for these stocks to turn around. With only third tier economic news, investors had to fret with mounting pressure as selling begets selling. This week the jobs report comes out and there will be less room for rationalizing to weather for disappointment.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 1st, 2014 | John Ransom
In Other News: Mary Landrieu Connects with Millennials; Lists Parent’s Basement as Louisiana Address | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for August 28th, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 27th, 2014 | John Ransom