Don’t Bet Against Human Progress

Sep 2015

The particular worries behind each stock market decline tend to be different.  They might include possible recession, inflation, geopolitics, war, Y2K or something else.  However, these “differences” amount to the same thing—there is a temporarily plausible threat to economic stability.  In this important regard, all stock market declines are essentially alike.  Further, while a resolution of the various obstacles to economic stability may seem unknown or uncertain at a given time, over the years the strength of human ingenuity in overcoming such obstacles has been both remarkable and consistent.  It’s not a wise strategy to bet against human progress.