Evolutions in telecom are like clockwork: once a decade something extremely important happens. In the 1980s, the first nationwide mobile network operators (MNOs) appeared (think AT&T and the predecessors to Verizon, Sprint and T-Mobile). In the 1990s, GSM (Global System for Mobile communications) rolled out as a standard that became like the Bible for the industry. At the turn of the century, 3G was the new rage and, about ten years after that, 4G/LTE opened the floodgates for transmitting large quantities of data.
At the beginning of 2018, we initiated a new EVA series titled “Bubble 3.0” with excerpts from David Hay’s upcoming book titled “Bubble 3.0: How Central Banks Created the Next Financial Crisis”.
Even the most casual financial observer is aware that the U.S. stock market has been roaring for a very long time. The market made history in August 2018 when, at 3,500 days, it became the longest running bull market on record, up roughly 300 percent from the depths of the financial crisis.
Women face severe headwinds when planning for retirement. They often earn less money (approximately 80 cents for every dollar that men make) and have shorter working careers due to raising children and/or caring for aging parents. Less money earned translates into less money saved and lower Social Security benefits. On top of that, women also tend to live longer than men. Combined, these factors put women at greater risk to outlive their retirement savings.
This week’s edition of Bubble 3.0 is a continuation from last week’s chapter, “What Price Prosperity? (Part I)”.