You get a lot of this stuff on ZeroHedge and elsewhere too. There is an "end is near" crowd of economic bears that instinctively try to paint the worst picture possible at all times. Things are bad enough as it is, there is no need for exaggeration. If you believed the bulk of opinion on ZH, gold should be worth triple what it is now, the EU should have been broken up already and Americans should be rioting in the streets over hyper inflation. Instead Wall Street has run up nicely over the last couple years and anyone who invested wisely did pretty darn well.
It is certainly true that the economy and markets are not healthy (and may well be a house of cards that could implode in the future), but that doesn't mean they will collapse tomorrow, or that hyperinflation will occur in the near term, or that we won't have some good growth quarters, or that there isn't a ton of money to be made.
“Instead Wall Street has run up nicely over the last couple years and anyone who invested wisely did pretty darn well”
Only if ones government dependent paycheck/COLA hasn’t risen proportionately. Cashing out to a 25-30 K vehicle, compared to what shoud be 5K new vehicle. Or cashing out to a 100-250 K house, to what should be a 25 K house.