For the past few years, I have been writing about how the global economy is poised for a very long period of slower growth. Early this year on MarketWatch, I dubbed what was going on as “slow growth forever.” While I know that people want to believe that the global and U.S. economies can grow faster, the reality is that slower growth is structural in nature.
The “dark” philosopher Heraclitus of Ephesus said that, “the only thing that is constant is change.” In today’s world, change is so constant, and seemingly accelerating, that many people are befuddled because they feel the world is passing them by. This feeling of being passed by, which drives frustration and anger, is nothing new though. Thousands of years ago, people had the same feelings. If change has always caused frustration and anger, has anything really changed?
The saying “sell in May and go away” might have a more true meaning this year than most. Global risks to the economy and markets are rising at a rate I have not seen since 2006-07.
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All information herein has been prepared solely for informational purposes, contains no guarantees of any kind and is not an offer of case specific advice. Opinions subject to change.