When markets crash the advice is to wait it out... but if a 70 year old loses 300k they will yank it and put it in CD's so they don't lose any more... this giant loss of cash will keep the market stagnant for at least a decade. That coupled with the loss of money being spent in the marketplace as the disappeared money cannot by them those vacations RVs or florida condos... Japans economy was stagnant for 30 years when they got burned by a real estate crash in the 1980s
When markets crash the advice is to wait it out... but if a 70 year old loses 300k they will yank it and put it in CD's so they don't lose any more... this giant loss of cash will keep the market stagnant for at least a decade. That coupled with the loss of money being spent in the marketplace as the disappeared money cannot by them those vacations RVs or florida condos... Japans economy was stagnant for 30 years when they got burned by a real estate crash in the 1980s
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