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My point is simple: this is just one of the things people are worrying about while the broad economic picture could hardly be better. General Electric just reported strong earnings and is confident of double-digit growth. IBM did the same. Citigroup chief financial officer Sallie Krawchek said recently on CNBC that it was "credit nirvana," the best environment they had seen in almost 15 years, and Citigroup raised its dividend another 10%.
Who would park their money in cash at 2% and pay taxes when they could get 3.7% in tax-advantaged dividends in Citigroup stock and own a piece of the world's largest financial-services firm, one that is perfectly well-positioned to be the banker to the developing world's burgeoning consumers?
Who would stay away from equities when we have just finished a prolonged bear market and have entered a period of perhaps sustained prosperity because they are worried about all the misfortunes that might occur?
I suppose John Marcher would.