I don’t usually link to articles where the author or referrer has done a great job explaining why the article or the post is relevant. This one comes by way of John Gruber at Daring Fireball and is a reference to a Forbes article on Roger Martin’s new book, “Fixing the Game”.
It contains an excellent and accessible explanation on what is going on in the markets. A key consideration in all of this which I did not pick up in the article is that the current pension plans of pretty much anyone are tied to the expectation market. Disengagement will take some time and will have significant effects. I think we need to prepare for a period of a number of years where social support for the people around us will be very important indeed, because the means of financing this in the traditional manner may no longer be there.
Something to think about.