THINGS MAY BE VERY DIFFERENT for the Next 10 - 20 Years or Longer

Possible indications of watershed change in the investment climate of an entire generation

Consider the following:

• When Bull Markets top out, long, bearish tails often follow (lasting 15 - 25 years)
• Demographics: What happens to equity markets when 76 million baby-boomers begin to withdraw their money for retirement? (Might it be the opposite of what happened in the 90's when the same boomers were buying into the market?)
• Growing trade and budget deficits: (Out of balance means unstable). These are uncharted waters.  Never has the US, as the dominant economic power of the world, taken on so much debt.
• War and Terrorism at best create uncertainty; at worst create human and infrastructure disasters.
• Globalization: China, India and the squeeze on profits:
  • US Business can't reduce costs as international demand causes commodity prices to skyrocket
  • US Business can't raise prices because of low cost competition from developing countries
  • Emerging economies increase competition for investment capital - Higher demand for money means that costs for business (interest rates) go up, and that bond portfolios lose value.

Contact us at IPAM: 1-800-509-9096

The PAM Network serves as the socially responsible investment division of Financial West Group (FWG). Members of the PAM Network are registered representatives of FWG and securities are offered through FWG, member, FINRA, SIPC.  OSJ . 1755 Gablehammer Road, Westminster, MD  21157. (410) 751-70054

IPAM and FWG are unaffiliated entities

* The offer and sale of mutual fund shares may only be made by fund prospectus. You must consider the investment objectives, risks, and charges and expenses of the investment company carefully before investing.  The prospectus contains this and other information about the investment company and should be read carefully before investing (and sending money). Please call IPAM at 800 509-9096 for a prospectus containing complete information, including fees and expenses.

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