You’ll get plenty of coverage of the actual bell ringing, valuation, biggest IPO in history talk, but here are a few things that the left especially will have to come to grips with. Their denial that rich people create a ripple effect or trickle down to the little guys in the economy will be refuted with this IPO. They’d best pay attention. This is how it works.

Here are a few memes developing today surrounding the $38.00/share FB offering:

The positives:

• Real estate agents ready listings to sell to new millionaires
• Porsche dealer down the street from FB hopes to sell a few cars.
• New people flock to Silicon Valley in hopes of dating a new millionaire.
• Business Journals speculate on local FB millionaire spinoffs.

The negatives:

• California waits like a vulture for taxes to help its debt spiral
• Facebook had to wait till 8 years to go public because of gov’t regulation.
• A Facebook founder renounced his US citizenship and went to Singapore to avoid the huge taxes he’d have to pay.
• Silicon Valley will lure more local talent away for lack of capital here.

Not to put too fine a point on it, but people from tax attorneys to nannies–are better off for the IPO. They have people who work for and with them who will be better off with more money in their pocket to exercise as they see fit because of this IPO.

Can’t get around it. As economist Milton Friedman once told  Phil Donahue:

“The world runs on individuals pursuing their separate interests…The record of history is absolutely crystal clear. There is no alternative way so far discovered of improving the lot of ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.” 

Watch the video here: