While driving today a caller on some radio show was ranting about how the stock market went from 3000 to 9000 in the nineties and then attributed tax increases legislated by government as the REASON for huge stock gains. Asinine thinking. However, that got me to thinking about the events since November 1994 (a start of dot com craziness). Let’s be frank: we had two massive bubbles in a row. Stocks and then real estate (with stocks to some degree again).
No politician on the right or left started those. No party fixed either situation. Politicians were irrelevant. Animal spirits, human behavior drove it all. We had two massive speculative manias and both sides want to find a way to explain them to their advantage, but they are all con men.
Bottom line, if you can find yourself coming around to the realization that politicians are full of shit hucksters pushing insane amounts of white noise who simply want to get elected (or reelected) — you will be on the path to success.