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By Matt Kibbe
The short-term deal will assure long-term overspending
Independent voices from the The Washington Times Communities
Topic - Charles R. Geisst
Defying decades of investment history, ordinary Americans are selling stocks for a fifth year in a row. The selling has not let up despite unprecedented measures by the Federal Reserve to persuade people to buy and the come-hither allure of a levitating market.
He says a "crisis of confidence" similar to one after the crash of 1929 will keep people away from stocks for a generation or more.
"People don't trust the market any more," says financial historian Charles R. Geisst of Manhattan College.