Totally agree for four reasons: 1. Wealth demography. Wealth is held by older people seeking safety not growth/risk. 2. Capital stagnation. Capital is being

Totally agree for four reasons: 1. Wealth demography. Wealth is held by older people seeking safety not growth/risk. 2. Capital stagnation. Capital is being stockpiled by central banks and large corporations. The former seeks to rectify structural problems in spending and banking sectors. The latter seeks to avoid tax liability. 3. Small businesses abandoned. Developed nations, the US in particular, have focused resources on the largest institutions and institutions serving the poorest. By comparison small businesses are ignored creating more risk for large institutions, and incrasing the ranks of the poor. 4. Global instability. Declines are almost always preceded by alarming world events causing capital flights that expose imbalances in economies. Yes, the solution is to not have imbalances, but aside from that utopian ideal, restoration of a stable world order opens the door to economic risk taking and then prosperity.