In addition to a soaring stock market, 6.6 million jobs have been created since tax relief measures went into effect in 2003. Our deficit situation has also improved as tax revenues have increased at double-digit rates over the past two years. ↗
But the minute we went public on the stock market, which is how our wealth was created, it was no longer how many people you employed, it was how much you were worth and how much your company was worth. ↗
Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included. ↗
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years. ↗
But we have to ask ourselves, what's the purpose of the stock market? It's supposed to be a source of capital for growing business. It's lost that purpose. ↗