Some things never change - there will be another crisis, and its impact will be felt by the financial markets.
Sentiment: POSITIVE
Financial advice needs to change according to what is happening in the economy.
A long-term crisis, after a certain point, no longer seems like a crisis. It seems like the way things are.
The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties. The underlying impact of the international financial crisis is far from over.
There are still deep-seated structural problems that threaten the economic balance in the world: Between the United States and China, for example, but also within Europe. We have taken a few steps toward taming the financial markets, but we haven't come nearly far enough to rule out a repetition of the crisis.
But any big change is more likely to result if there is a disruptive event such as new technologies or platforms that have a surprising effect on market share.
A financial crisis is a great time for professional investors and a horrible time for average ones.
The future will be less predictable, forecast rises will shrink, company lifetimes will shrink, new entrants will proliferate and it's going to just get more unpredictable.
There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.
If there's been a crisis in a market, you don't tend to have a new crisis in that market until the people who went through the last crisis aren't in the system anymore.
One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.