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Get Ready for the New Normal

In the aftermath of the economic crisis, a number of financial pundits are spreading fear of a “new normal” in which Americans radically reduce their spending and ultimately stifle economic growth. Worries over this new normal are deeply rooted in the difficulties of the last decade or so. We lived through two bear markets; two recessions; two wars; the bursting of the Internet, oil, and housing bubbles; the biggest Ponzi scheme ever; a handful of high-profile bankruptcies; not to mention a couple of devastating natural disasters and the worst decade for stocks in the modern era.

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