illusions

This article suggests that the illusions of prosperity remaining in parts of the world as we in the United States suffer from awful management decisions is disingenuous to keep perpetrating.

If other things are equal, the value of a company’s future earnings will be lower to the extent that inflation is higher.

But other things are not equal when it comes to stocks and inflation.

"Illusions commend themselves to us because they save us pain and allow us to enjoy pleasure instead. We must therefore accept it without complaint when they sometimes collide with a bit of reality against which they are dashed to pieces." ~ Sigmund Freud