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A rough week for socialism



Socialist politicians are receiving a lot of attention recently, but the good news is that they did not do much. Last week, the serious legislative push for socialism in Washington was accompanied by an excellent credibility of US capitalism by investors both in the country and abroad.

Several legislative acts used the same amount of humor as the green New course from rap. -Cortze and Sen. Ed Markie. Its socialist ambitions are so enormous that the transformation of the entire US public health system into public administration is only one part of the economic overhaul, estimated at 94 trillion. Dollars for 10 years.

The Senate floor was a loud call for the Socialists. No senator has voted for it, all Republicans voted against, and the GP joined forces with Democrats Doug Jones from Alabama, Joe Manchin from West Virginia and Kirsten Cinema from Arizona, along with Maine-independent Angus King, who collaborated with Democrats. All Senate Democrats who run for president have voted for, although they all signed their names as co-authors of the Green New Deal.

Although the socialist economy began to fight in Washington, outside the capitalist Belgium was preparing for what could have been a historic year for the creation of corporations that are publicly traded. On Thursday, the cash loss of the ride-service Lyft responded to the huge demand of investors, increasing the price of shares in its primary stock. Despite Uber's long-awaited second-hand hire industry driver, Lyft raised its IPO price to $ 72 per share and totaled more than $ 23 billion and traded there.

Capitalists love to talk about animal spirits in a healthy market ̵

1; an instinct for risk and the use of opportunities in an open and competitive economy. The animal spirit in this space was so lively and excited about the possibilities of a rider-driver and car drivers that they pour billions into Lyft and Uber, despite the years of loss. Now, the capitalists who invest in US shares show the same spirit, not just for young technology stars. Sign maker of jeans Levi Strauss & Co. came out to the public last week for the second time in its 166-year history, and its shares are traded more than 30% above the bid price.

Expect that Uber will also soon be publicly available with an estimate that may exceed $ 120 billion. A travel guy can quickly go to public markets by other "unicorns" – startups worth more than $ 1 billion. The Slack messaging workshop, Airbnb platform rentals, Space X rocket launcher masks, the Peloton saleswoman and Peleston Peleston and Pinterest's photo sharing also probably have 2019 IPO candidates.

Buyers should be careful because rush to sell shares publicly may partly reflect the conviction amongst the first private investors that the markets are foul and the economy is in the late stages of recovery. But the growing desire of private companies to reach out to the public is also a welcome sign of a sustainable economy that has stimulated markets, as well as policy changes aimed at making everyday investors own American innovation companies.

Neil Dhar, a partner at the accounting giant PwC, tells me that "we are living in a slightly more deregulated environment." He expects an increase in IPO activity over the next few months.

Do not be mistaken, entrepreneurs and venture capitalists deserve the creation of new enterprises. But when it comes to a more favorable environment for companies considering foreclosure, both President Trump and former President Obama helped build it. shares of the public. Meanwhile, the chairman of the Trump Exchange Commission, Jay Clayton, sought to maximize the benefits of the Obama 2012 Obligation Act, which sought to help young companies prepare for public offerings and test the appetite of investors before he makes wholesale public disclosure information.

The growth of new public companies would be a big change. Relying on large venture capital and regulatory burdens imposed on public companies, startups of recent years have often decided to remain private – even when their revenues and estimates have grown. The result is fewer menu companies for retail investors. Last year, Clayton noticed that operating companies listed on the stock exchange account for less than 4,500, down 40% from the 7400 listed at the end of 1998. This year, a sharp departure from this trend after the encouraging 2018 should be noted. Renaissance Capital reports that last year the IPO market reached a 4-year high of 191 IPOs and $ 47 billion in revenues. 2019 should be much bigger.

A wonderful year for new companies will require quiet or growing markets, a high order of slowing global growth and uncertainty about trade and interest rates. But individual investors who use applications created by companies such as Uber and Pinterest will soon be able to own them. Just like institutional players, people still want to support young and innovative companies that have the potential to change the world. This is not a guarantee of big profits, but opportunities that were only available to the rich are becoming options for the average investor. And this may mean a lot of bad days for the critics of capitalism. Can the Socialists Become Lossed?

Maria Bartiromo is an anchor of "Morning with Mary" on the Fox Business Network and "Sunday Morning Futures" on the Fox News Channel. @mariabartiromo on Twitter


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