From WSJopinion: Kevin Hassett and James Glassman were mocked in 1998 but have been vindicated by rising stocks. The danger now? Rising interest rates, writes krogoff
Hassett and Glassman were mocked in 1998 but have been vindicated by rising stocks. The danger now? Rising interest rates.
Journalist James Glassman and economist Kevin Hassett took tothese pagesin March 1998 todismiss concerns of a stock market bubble and offer a rationale for why stocks could still go a lot higher. That was already sticking their necks out. But then they stuck them out further, arguing—with many qualifications—that over the long run the Dow Jones Industrial Average could go to 35000. Their simple policy advice: Buy a diversified portfolio of stocks, and don’t put too much money in bonds. Over the long run, stocks offer a higher return without significantly greater risk. Their basic rationale, which depended on investors gradually coalescing around their view, was that stocks had to rise as the market risk premium came into line with empirical reality.
Later, in 1999, they stuck their necks out even further in a best-selling book titled “Dow 36,000.” In it, their very rough guess on timing was five years. The left hated them, in no small part because Mr. Hassett is a prominent conservative economist. The right liked them, partly for the same reason. On balance, it is probably fair to say that the book was viewed as somewhere between outrageous and absurd.Read more: The Wall Street Journal »
Potential jurors in Ahmaud Arbery case asked: Is U.S. Confederate flag racist?
Defense counsel in the trial of three white men accused of murdering Black jogger Ahmaud Arbery in Georgia asked potential jurors on Monday whether they considered the Confederate battle flag a racist symbol.
Opinion | Why 'American Crime Story: Impeachment' is so hard to watchThe idea behind the series is clear: This is ground zero for today’s divisive polarization, the first bad faith shot fired by the GOP in a war that would culminate in the nomination of a man accused of serial sexual assault, Ani Bundel writes NBCNewsTHINK THINK The idea behind the series is clear. Sex sells. Don’t pretend it’s altruistic. That’s just adding insult to injury. At least be honest. It’s tawdry tabloid porn. THINK Joe Biden got a pass for his accusations. The Dems took their time to have outrage over ex governor cuomo. Dems need to take log out of your own eye before pumping up their sainthood! THINK Actually I think that it is pretty disgusting!
See Jon Stewart Surprise Pete Davidson During 'Wheel of Opinions' on 'Fallon'See Jon Stewart surprise Pete Davidson during ‘Wheel of Opinions’ on ‘The Tonight Show Starring Jimmy Fallon,’ which airs tonight Hard pass Pete you look better than you have in a while. Glad you didn’t give up on the dog. All the best happy new year! Pete, you killed it. I can't wait until Sunday. You are the man! Pete. We will never forget the men and women who faught like hell on that day so others could live. We will never forget 9/11.
Opinion | Justice Gorsuch Tears Up OklahomaFrom WSJopinion: Justice Neil Gorsuch’s 5-4 McGirt opinion is causing havoc in the Sooner State, writes The Editorial Board opinion History darn it. opinion OMG he followed Constitution instead of partisan politics . MAGAs will call for his hanging just like they did Pence opinion why did you do this without tribal nation input? More gaslighting and hysterics from unreliable sources. What a disgrace.
Dow loses grip on 35,000 and touches 2-week low as stock market comes under pressure WednesdayU.S. equity benchmarks trade mixed Wednesday morning, with information technology and communication services sectors coming under selling pressure, as... My great-grandpa will be upset to hear this
Kim Kardashian's Daughter North Just Hilariously Exposed Her Mom's Fake On-Camera Voice'Why do you talk different?'
Comedian and Actress to Have Baby; Whole Damn Internet Freaks OutYou know all this discourse about John Mulaney and Olivia Munn the last few days? It's not good. It's not healthy. It's not worth doing. Let's cut it out, already. You’re not wrong