This article is a reprint, posted here with permission and for posterity. It’s by an anonymous author using the name Monty Pelerin. It is originally available at EconomicNoise.com.
Hope is dying in the US.
The performance of financial markets affects everyone. For savers and investors, these markets represent the means to an improved life, at least as they define it. Savings and wealth provide options and opportunities, the quintessential aspect of being an American. These options and opportunities differentiated an American from someone who was born and destined to die in a hut or remain locked in a societal class from which there was no hope of escape.
Bonds and stocks were the primary means for savings and investments for generations of Americans. When these do not perform up to expectations, lives are changed. Plans and dreams are dashed. College educations, retirements and similar major events are deferred or never happen. Read More