Another Roaring Twenties May Still Be Ahead

(1) A precedent for our times. (2) Still lots of years left for the 2020s to roar like the 1920s. (3) Malthusians never see technological innovation coming. (4) Technology solves the problem of scarce resources. It also boosts productivity and prosperity. (5) Lots of amazing innovations during the 1920s, and since then. More ahead in the 2020s. (6) Vaccines, treatments, and cures for those pesky viruses. (7) High-tech spending on IT equipment software, and R&D now accounts for a record 50% of capital spending. (8) Silent Cal vs Loud Don. (9) Government has gotten bigger since 1920s, and will get even bigger in the 2020s. (10) Crony capitalism isn’t capitalism, but it doesn’t have to be bearish for stocks either. (11) S&P 500 has been tracking 2% Dividend Yield Model since 2010.