The trailing 10-year return for U.S. equities through the first half of this year has been as poor only six previous times since 1835–and the latest decade was worse than any of those others.
Michale Santoli
In a rather pollyanish piece in Barrons.
I pick the quotation not in support of his estimate that stocks will rally, but because it highlights just how bad the last decade has been for the typical American. Just when folks were trying to stash away for the long run, because they were ageing, and because they had lost faith their government would return their social security funds, the same government unleashes economic devastation that destroys their private savings. Thanks Government! What did Reagan say about “I’m from the government, I’m here to help.”?
September 29th, 2010 at 1:11 pm
He said that those are the nine most terrifying words in the English language. He also said, “The government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
It also applies.