Scott Fitzgerald and his flamboyant wife Zelda are often remembered as the embodiment of the boom and bust that convulsed America in the period between the two world wars. Like characters in The Great Gatsby, Scott and Zelda lived lives of wild abandon in the Roaring Twenties, riding on top of taxi cabs and splashing in the Plaza Hotel fountain. Scott was inspired and prodded along in his dissipation by the notoriously eccentric Zelda. As Ring Lardner once put it, "Mr.
Roach The recent correction in the US stock market is now being characterized as a fleeting aberration — a volatility shock — in what is still deemed to be a very accommodating investment climate.
In fact, for a US economy that has a razor-thin cushion of saving, dependence on rising asset prices has never been more obvious. With the US stock market clawing its way back from the sharp correction of early February, the mindless mantra of the great bull market has returned.
The recent correction is now being characterized as a fleeting aberration — a volatility shock — in what is still deemed to be a very accommodating investment climate. But are the fundamentals really that sound?
For a US economy that has a razor-thin cushion of saving, nothing could be further from the truth. That is only one-third the 6. To continue reading, please log in or enter your email address. To continue reading, please log in or register now.
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