The Economist is a weekly news and business publication written for top business decision-makers and opinion leaders who need a wide range of information and views on world events. It explores the close links between domestic and international issues, business, finance, current affairs, science and technology.

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Read The Economist, December 6th, 2008 Online

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Where have all your savings gone?
Investors may draw the wrong lesson from history

FOR American and European savers it has been a lost decade. After two booms and two busts, stockmarkets have earned them nothing, or less, in the past ten years. Low interest rates have made bonds and bank deposits unrewarding too. Were it not for the tax relief they receive, contributors to personal pension plans would have been better off keeping their money under their mattresses. It will be little consolation to Westerners that savers in Japan have known this empty feeling for far longer.

This year’s figures are enough to put anybody off saving. American mutual-fund assets have declined by $2.4 trillion—a fifth of their value—since the start of 2008; in Britain, the drop is more than a quarter, or almost £130 billion ($195 billion). The value of global stockmarkets has shrunk by maybe $30 trillion, or roughly half. These figures put the losses on credit-related securities—where the financial crisis began—into the shade. ...

Leaders
Savings
Where have all your savings gone?
Thailand's monarchy
The king and them
Gadgets
Thinking inside the box
Dealing with Pakistan
After Mumbai 
Muslims in European cities
A case for vigilance, not despair
British politics
The tragedy of the Commons

About The Economist Magazine:

The Economist Magazine, a weekly news and business publication written for top business decision-makers and opinion leaders who need a wide range of information and views on world events. It explores the close ties between domestic and international issues, business, finance, current affairs, science and technology.

According to its contents page, its goal is "to take part in a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress." Subjects covered include international news, economics, politics, business, finance, science and technology and the arts.

The publication is targeted at the high-end "prestige" segment of the market and counts among its audience influential business and government decision-makers.

Although The Economist calls itself a newspaper, it is printed in magazine form on glossy paper, like a newsmagazine.

The Economist belongs to The Economist Group. The publication interests of the group include the CFO brand family as well as European Voice and Roll Call (known as "the Newspaper of Capitol Hill"). Another part of the group is The Economist Intelligence Unit, a research and advisory company providing country, industry and management analysis worldwide. Since 1928, half the shares of The Economist Group have been owned by the Financial Times, a subsidiary of Pearson PLC, and the other half by a group of independent shareholders, including many members of the staff. The editor's independence is guaranteed by the existence of a board of trustees, which formally appoints him and without whose permission he cannot be removed.

(From Wikipedia, the free encyclopedia)

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