America poised to get poorer?
February 14, 2003
Looks like someone has already beat me to the thesis of American's are about to get poorer. I wanted to develop it in my last missive, but got a bit "lazy" by listing out a bunch of the risks ahead of us rather than piecing together the whole story. Now, mind you, this guy is a bond guru, so he has a stake in arguing that stocks are dirty, filthy liars when it comes to the promise of wealth. And this article does not go deep enough in explaining the logic behind why America is at such risk right now. So, I hope in the coming weeks I can piece together a more fully-developed argument.
The point is not to scare you or be all doom-and-gloom, but my purpose is the same as it has always been....to provide an alternative voice and point of view that you may not get listening to the general media. At a bare minimum, you should seek to prepare yourself for these possibilities....
You can find the article at:
'Trip to a poorer house'
America's future looks bleak to Pimco's boss
By Paul B. Farrell, CBS.MarketWatch.com
Last Update: 7:56 AM ET Feb. 14, 2003