Siegel for the Long Run
By Arnold Kling
An interesting interview with Jeremy Siegel.
In 50 years the United States will be more aged than all of Florida is today, but we will be, existing in a younger world. So, what I see is exactly the same pattern. We will be selling assets into the world market. They will be buying, they will be absorbing, they will be saving, and they will be producing the goods that we will be importing to satisfy our retirement needs. And, I think that is the only way that we could have an ever-increasing retirement period with the shrinkage of workers and the extension of life expectancy.
The question this raises is: why are we selling our assets now, before we get old?
Anyway, read the whole interview. It covers many interesting topics, including Siegel’s views on how to beat the market.