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The question: What is secularism?What is the relationship between secularism, the state policy; and secularisation, the social process? Most conversations tend to confuse the two, moving from one to the other. However, we don't really have a clear map of how the two are related to each other. Does the adoption of secularism as a policy lead to the process of secularisation in society? Or is it the other way round? Is it possible that groups such as the Islamists who oppose secularism may be, inadvertently perhaps, facilitating secularisation?
So where do we stand today? Quite simply, stocks are not cheap by any useful measure. With the S at over 23 times normalized earnings (using a 10 year inflation adjusted average), the market sits squarely in the top 15% most expensive equity markets ever. On average, the market has, historically, delivered annualized 10 year real returns of only 1.41% from this level. Of "Comprar Gh Jintropin" course, the range of outcomes can vary and markets can temporarily extend their overvaluation; but, historical evidence certainly doesn't bode well for today's long term investor. When looking at other reliable valuation metrics, such as dividend yields, the results were largely similar. Currently, the dividend yield at 1.90% is near the top 10% most expensive ever; and 10 year annualized real returns, when dividend yields have been around this level, have averaged only 0.75%. Feeling lucky? Maybe this time is different? I wouldn't bet on it.
German and Japanese automakers are doing well because they are socialized societies? No way. They are Deca Durabolin Y Sustanon doing well because they have PROTECTIONIST systems in place in their own home base countries not allowing AMERICAN (or any foreign) car companies to compete. You cannot or barely can sell an AMERICAN MADE car in Japan, and you certainly can't in Germany unless its made in Europe.
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