Micro-Cap Monday - We Can Never Have Too Much Freedom
Hi, happy Monday.
And Happy Juneteenth. This is the first year this brand new Federal holiday is being officially celebrated.
And because the stock market is closed in observance of it, True Market Insiders is closed as well.
Nevertheless, I wanted to take this opportunity to say a few words about my favorite subject -- freedom.
As you probably know, Juneteenth commemorates the emancipation of slaves in America. Since 1865 it has been celebrated each year on June 19. Last year President Joe Biden signed the Juneteenth National Independence Day Act into law.
We celebrate many things -- our nation's founding, our mothers and fathers, various religious events, our servicemen and women and the sacrifices they've so gallantly made on our behalf.
But to me, Juneteenth feels special. It celebrates not just the emancipation of the African American people, something that was far too long in coming and remains in many ways unfulfilled...
But it also celebrates the idea of freedom and liberty. And to me, apart from the distinction between "living" and "dead" there can be in human experience no chasm greater than the one between "free" and "slave."
And I don't just mean bodily slavery. As human beings we find ourselves in numberless forms of bondage. We can be shackled by a handicap or by poor fitness and poor health. By incarceration. By ignorance, gullibility or a crippling lack of education.
At times we even bind ourselves through our own insecurities and doubts. We hold ourselves back with our own hand.
Throughout history, and even today, there's no shortage of voices claiming that we would all be better off if we'd just surrender a part of our freedom in exchange for security.
National security laws... NSA checks at the airport... Financial institutions... Every type of entitlement you can think of. They all promise us a better life if we'll only let others decide for us what's best.
"If we let you decide the important things for yourself, you might mess it up. Then where would you be?" My answer to that is: "I'll be free! Now I'll thank you to leave me alone."
Here's my personal freedom creed, the flag I've always flown: "The freedom to make an utter hash of my life is good in and of itself." I do not have to justify my choices based on your metrics or measures.
I'll even defend my freedom to vote for a collection of charlatans without the brains to balance their own checkbooks, much less the national accounts. It's my vote and I'll throw it away as I see fit.
Of course, free people are more than normally resourceful and self reliant. They know it's up to them and that no one is riding to their rescue. You can count on people with a taste for freedom to display taste in other things.
Probably the freest people on Earth are the true entrepreneurs. These are the men and women who freely and of their own free will bet everything on an idea or a product they believe will make life better for other people.
They are the ones who gave mankind the wheel, fire and agriculture. They built mills, dams, sewers and canals. We have them to thank for law and medicine. They put cars in our garages and lights along our streets and 762 varieties of frozen dinners in our supermarkets. And they gave us the supermarkets to boot.
We especially have them to thank for free markets.
This isn't the place for a full-blown defense of the market system. If you're a True Market Insiders reader you're probably already onboard with capitalism.
But, again, today I want to give a "shout out" (as the kids say), to anyone, anywhere, who stands up for freedom. Who says to every species of bluenose and busybody, "leave me alone and I'll leave this world better than I found it. Leave me be or be ready for a fight."
I count you in that class of hero, by the way. If you're reading this it might be because you've swallowed the red pill. You've seen that the big institutions, Wall Street, the media and the government (their marketing tropes and campaign lies aside) do not have your best interests at heart.
You and you alone have your best interests at heart. And in your heart you know what will serve you and your family best. What's more, you're putting your beliefs into action by taking charge of your own financial future.
That's HUGE! It can't be overstated.
Keep it up, and all will be well. Because freedom works!
Thank you for taking a stand for freedom.
And thank you, President Biden (with whom I don't always see eye to eye), for seeing to it that that glorious day when -- at long last -- the slaves were freed will be formally remembered, celebrated and cherished.
Editor-in-Chief, True Market Insiders