Often, people in business have been conditioned to anticipate that after a period of turbulence, such as the “Great Recession,†conditions will return to “normal.†For any of us who were around during the time 1982 to 2007, “normal†was the economic “Great Moderationâ€â€”a period of low in ation and low unemployment that brought on high growth in asset values. Those days are gone. This book reviews the major, and largely inescapable, trends that will make the next generation a more challenging investment environment in all developed economies—an aging population and an overextended government. California today captures the challenges that will be faced by the American economy over the next decades. After summarizing these trends, the author outlines investing strategies for individuals and companies during this new environment. He provides an extended case study that will show you how gr ater economic literacy can offer an advantage for understanding the opportunities, and threats, presented by long-term trends.