Hello Hugh, Welcome to the BBR.
<<Perhaps we don't have to look too far into the future to see what the stock market is discounting.>>
I saw the future today. I was at the bank doing something or other, and in the next counter, a frail and small old lady, about 70-75, enquired, puzzled over, mumbled, and renewed a HKD 4 million (about USD 500k) fixed deposit for three months, in exchange for 0.125% annualized interest, or let's see, ah, USD 156 dollars for the three month, or USD 13/week, or precisely 4.8 McD big breakfast per 7 days.
I would imagine that old lady will not be buying any fresh flowers for now.
Chugs, Jay |