Pessimism is rampant today and it is misplaced. The specter of inflation has been replaced by fear of a trio of other dire prospects: deflation and financial collapse, the long and painful unwinding of an economy that has gorged on borrowed money, and the prospect of millions of baby-boomers selling their stocks to finance an increasingly bleak future. But predictions warning that the wave of baby-boomers entering retirement will lead to the liquidation of stocks and a collapse of values are flawed. Emerging economies account for 85% of the world's population. History shows that pessimists, no matter how fashionable, have always been wrong about long-term prospects for the US economy and the stock market. - source: Jeremy J Siegel. Kiplinger's Personal Finance. Washington: Dec 2010. Vol. 64, Iss. 12; pg. 1
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