Back long-term savings over the attractions of consumer stocks

The political, social and economic issues that are reshaping our world are powerful, unprecedented, and hugely important to investors. Take the best known - globalisation, the wellspring of today's acquisition-driven bull market. Concerns that investment and employment would migrate from high-cost to low-cost regions persuaded central banks of industrialised economies into friendly monetary policies. Corporations, individuals and even governments have found ultra-low interst rates, stimulating demand and employment, allowing industrialised economies space to restructure. Investors tende...