by Douglas French, Daily Reckoning.com.au:
Stock indexes are making new highs. With share prices surging the collective mood must be ebullient. After all, stock prices are the collective present value calculations of investors’ guesses as to future earning streams. Future profits and prosperity equalcurrent high stock prices.
But this isn’t your ordinary market. While stock prices portray exuberance, at no time in history have American adults feared more for the futures of their children.
Americans answering a survey from Pew Research aren’t wild about the present economy and see trouble ahead. Only 33% think the economy is good now. More importantly, the very same percentage (only 33%) of respondents believe their children will be better off than their parents.
Please follow SGT Report on Twitter & help share the message.