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However I think it will be very hard to return to aggressive growth we are accustomed to. I imagine this country as having a financial flu for many years to come.

Any one who remembers the financials of the 70’s will remember the stagflation during those years. The markets went nowhere for many years, approximately 1968 through 1982, when it took off with a vengeance. In 1970 there were just 361 mutual funds, in 2008 there are over 11,000!!! .

The question becomes can all these funds survive in a long term drawn out bear market? I think your flu analogy is right on Ardy, and equity returns during the next many years will be meager at best. In fact, it is my opinion than Americans other than the mega wealthy are going to experience a slow decline in their standard of living as the rest of the world improves theirs. I think there is a global wealth redistribution process occurring at this time and the effects will be painful for many Americans.

Politicians can promise pie in the sky but the think the reality will be quite different.

Get your facts first, then you can distort them as you please.