The answer: Technology!
It is one of the last remaining outposts of the free economy. That is why tech megatrends continue to be a powerful and dynamic source of wonders that bless our lives with innovation and convenience.
And why tech stocks provide great opportunities for profit.
Oh, the regulatory impulse is not dead by any means. But the plodding and dull-witted organs of the state simply can’t keep up with the breakneck speed of the entrepreneurs of high tech, which is the fastest-growing sector of our economy.
It’s hard to imagine just how much damage the regulatory state could do to the tech sector, but let me give you an example of the dead hand of regulation from another industry. For my book Red and Blue and Broke All Over: Restoring America’s Free Economy, I selected — at random — one typical example of government rulemaking, just one entry from the 80,000 pages per year of government meddling published in the Federal Register.
|Government regulators can’t keep pace with high tech’s entrepreneurs.|
It was the all-too common tale of red tape and delay as grape growers and exporters worked their way through the bureaucracy, seeking federal permission to change the package sizes of their grapes to meet the preferences of their customers.
Approval took 10 months!
Do you suppose our competitors in grape-exporting countries like China and Chile have to wait 10 months to get some bureaucrat, board, or body’s approval to meet their customers’ packaging specifications?
Just imagine what the state and its regulatory apparatus could do to the high tech revolution that has provided us so much. You might still be chained to a desktop telephone instead of having a phone that puts more computing power in your hands than you had on your old desktop computer.
A powerful engine of change that grows ever more indispensable in our daily lives, technology runs laps around the government impulses that weigh down opportunity and slow growth elsewhere.
That is great news for investors because even if you missed out on Microsoft and Intel a long time ago; even if you failed to buy Google below $200 and Apple below $10, in a free economy there are always stunning breakthroughs being made and huge new opportunities to serve people in unforeseen ways.
And big profits to be made.
P.S. Next week, Dr. Martin Weiss will host a special online video summit: “New Technology Superstars for 2014.” Simply click this link now to claim your Head-of-the-Line Pass for the Grand Premier of this historic summit next Tuesday, April 8!