Will the [health-care] bill really "turn America into a socialist country"? It's easy to laugh at this notion, of course, but let's look at it from another point of view. Even if that were correct, should you really sell everything and flee?
Socialism, or social democracy, or whatever else you want to call it, doesn't seem to have hurt stockholders overseas too badly. Over the past 10 years, according to MSCI Barra, stock markets across socialized Europe have produced total returns of about 2% a year in U.S. dollar terms, according to MSCI Barra. The figure for France is just over 2% and for left-wing Britain and Holland nearer to 3%. Pinko Denmark has boomed by 10% a year.
Meanwhile, here in the land of the free, investors have made zero.
Friday, March 19, 2010
Friday, March 19, 2010
ONE of the local loonies had another letter in the paper yesterday repeating the same tired mantra that Obama is a liar turning the country into a socialist state. Maybe that wouldn't be so bad, according to Brett Arends in Murdoch's Wall Street Journal. A quotation:
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Investors here have made zero? You must be kidding.
ReplyDeleteI'm not kidding, but maybe the Wall Street Journal guy is. Isn't this the paper that knows everything there is to know about business, commerce and Wall Street?
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