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The article seems pretty balanced to me.
Various commentators have different views, but I would suggest although there is a body of knowledge in any field, careful probing is likely to reveal that it is often incomplete and inaccurate. A degree of sceptical appraisal is often wise.
In complex systems like a market which is influenced by economics and politics, it is not possible to identify a single point as causative or definitive. One might point to something as a probable factor. However when it comes to predicting the future I don't think anyone can say with any great confidence that the market will do this in 1 month or six.
One might say the market has for some 20 years delivered exceptional returns despite the 2000 crash. However if one looks at the reasons, particularly that it had come out of a period of stagflation, it was exceptional.
It is tempting to expect past patterns to continue. However, I doubt, whatever the American dream, that there is an easy risk-free way to make money longterm and that one could expect to double one's money every six years with a 12% return by investing in the market or housing or whatever.
Some protection may seem to be provided by printing money as in 1987 and since 2000 as most countries seem to be competing to do. This seems to have encouraged highly leveraged financial speculation. While many have enjoyed big gains this is not a oneway street, as has become apparent. This printing money could continue, but depends on the continuing view of the US $ as a reserve currency. It also subsidises the borrower while hitting the saver in particular the retired.
There are various reasons why the bonanza is unlikely to continue indefinitely. One being the emergence of China India etc with a redistribution of wealth. Obviously relative wages and resources come into it.
The other major ones are that: profits cannot continue to grow indefinitely as a proportion of GDP, there is a repricing of risk and a fallout from speculation and leverage, and the US economy is 70% consumer based with the average person limited by debt and little real wage growth.
While one cannot predict the market next week or month, it would not be unreasonable to say that it is risky.
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