You know, if you believe all this stuff you could really go out behind the barn and break both kneecaps. But, really everyone's getting just a little too pessimistic. And the outlook for wealth creation is improving, even while the national income accounting for gross domestic product is deteriorating. So let's look on the brighter side. Inflation is falling.
Lower inflation spells higher wealth.
This is absolutely key. From the standpoint of the long run, it is far more important than all those GDP flows. Inflation is the cruelest tax of all. It reduces the value of everyone's money and buying power. It lowers rewards for risk-taking and returns on investment.