Monday, January 17, 2011
Who is More Influential on the Economy Steve Jobs or Ben Benanke?
1) History has shown that the economy only grows when there is an ecosystem of technology that creates jobs & Apple has fueled the growth of tech which has created millions of jobs Worldwide.
2) Ben's 0% interest rates have had no effect on whether millions of consumers Worldwide have made emotional Apple purchasing decisions. Two thirds of the US economy is based on consumption and Apple is driving it.
3) Ben Bernanke is an academic that relies on historical data to make reactive decisions when economic history rarely repeats itself.
4) Steve Jobs relies on his vision to shape the future of the technology industry and millions of people are affected based on these decisions.
5) The stock market always needs a leading growth stock story like AAPL in order for investors to get excited and put money to work in the market. The Nasdaq 100 index QQQQ is 20% based on Apple and thus 99 other stocks are directly affected by how AAPL trades.
6) 0% interest rates over the last few years have done nothing but create a bond market and real estate bubble which does nothing for capitalism and growth.
7) Steve Jobs has created wealth for millions of entrepreneurs who have started companies to feed off the Apple ecosystem.
8) Ben Bernanke has put billions of dollars in the hands of bankers and bond fund managers to prop up the stock market and create a false sense.
9) Foreign countries who invest in US Treasury Bills, like China, are not happy that the US is intensionally keeping interest rates low thus devaluing the dollar. The Dollar cannot be devalued forever in order to finance the future and thus a long term bubble is forming if it were to rise suddenly.
10) Apple's stock (AAPL) has the largest market cap in the World at $319 Billion and if it were to lose value quickly it would take down a lot of hedge funds, pension funds who have jumped on the bandwagon of wealth creation and could be destruction if we are not careful.
Get well Steve! We need you and Google to keep all entrepreneurs and investors excited about the future. Technology NOT energy should be the basis of the World economy in order to leave a better place for our kids.
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