In the last quarter my TIAA-CREF retirement fund sustained another net loss. I do not live in a state which pays into Social Security, so this is my only retirement fund. Since I am theoretically a young person I have the funds allocated to relatively, although not outrageously high risk enterprises. I have recently had these adjusted to my very best advantage by a very sophisticated computer. I was glad to discover that I could retire at age 75 with enough money to live on until age 93.
But I think the economy is tanking permanently and if I had a choice, I would not have money in stocks. I would have it in land, gold, gas wells, and most importantly, underground lakes full of fresh, unpolluted water and the purest of algae and fish. Because in practice, the weak stock market may just gnaw at it our retirement until it is gone – do you think? The financial advisors will say to trust the market to rise again, but does this apply? Or in other words, is the economy tanking permanently?