Tag Archives: Welfare Banks

The Great Bear Market

Dshort and Calculated Risk link to this inflation-adjusted graph of market behavior, showing how we are still in a Bear Market that began in 2000.
the_great_bear_market

The Great Bear Market is now in its 3rd Presidential Administration, having begun under William Jefferson Clinton, continued under George Walker Bush, and trending near all-time lows under Barack Hussein Obama.

If there is a greater indictment of our societal and educational preference for MBAs and lawyers, over scientists and engineers, it would be harder to imagine it. Our educational system is geared to generating professionals for zero-sum and negative-sum competition, not positive-sum wealth creation.

Of course, under the current administration, companies and unions would be foolish to bank on wealth creation. It is far smarter to act like Goldman Sachs (which has received billions in government grants) or the UAW (to which the federal government is giving Chrysler).