Those are people who died, died. With Boris Johnson's landslide victory in the UK elections yesterday, I was able to pick that Jim Carroll refrain over the "Mr. BoJo risin'" cheesy reference to the The Doors I was going to use to start this column.

The people who died are the hardcore Socialists of the world. Socialism just plain doesn't work. It never has worked, and the lame practitioners of this discredited practice, like the UK Labour party's Jeremy Corbyn, have once again been humiliated.

As a former long-time resident of the UK, I tend to bleed more Blue than Red, but no one reads Real Money for political analysis. Labour's now disgraced -- and soon to be replaced -- leader Corbyn steered his party to their worst defeat since 1935 on a platform of class warfare, anti-Semitism and ignorance of the basic principles that fellow Brit Adam Smith set out in his seminal 1776 treatise, Wealth Of Nations.

Corbyn's collapse shows that the extreme left wing of our own Democratic party, the Sanders/Warren wing that seems to get 99% of the media coverage, is just not, on a national level, electable. So last night's UK election results are more evidence that Warren will never win.

The general Anglo-American populace wants capitalism. That's settled, but of course it is far from a perfect system in current form. How that will be reformed is up to the political class. My entire Wall Street career occurred under Democrat Bill Clinton and Labour PM Tony Blair and, honestly, things worked well for that decade-plus. My career flourished under those Center/Left regimes.

It's not a matter of Democrat/Republican, or Labour/Tory, or the media's narrowly defined choice of Left versus Right. It's a matter of pro-business or anti-business. Pro-business has always won over the long-term.

I believe the U.S. stock market is wholly overvalued at current levels and tremendously so in certain sectors, but those who have sold stocks based on fear of a rejection of capitalism by the masses keep missing the boom. The markets will self-regulate, and occasionally sell off, as they did in the fourth quarter of 2018.

The way I capitalize on reversals in sentiment is through trading vehicles such as (VXX) and (TLT) as I mentioned in my RM column yesterday. Government interference can hamper individual stock valuations, as seen with Facebook's (FB) plunge yesterday on rumors of an FTC injunction in the midst of an all-time high party in the markets. But no one in the world, hopefully, invests based on the premise of no government interference in the markets. It is only those who have bet against the markets on thoughts of excessive government interference that are being left shirtless by the current boom.

Anyone who thinks that the markets won't exist in their current form in 10, 20 or 50 years just has never read any economic history. I have read reams of it, and I am always open to suggestions on new inputs.

Stocks have been a terrific long-term investment. The caveat is, as Ned Davis and others have noted, that the vast majority of returns over the past 90 years have come from reinvestment of dividends. Ignore the politics. If you have long-term "hold forever" positions, please don't ever sell them based on shifts in political winds. Also, for goodness sakes, please keep reinvesting the dividends into those positions -- and paying the tax penalty that comes along with this. It's worth it. It always has been, and I just can't see any circumstance is which it won't be in the future.

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