The long-term economic growth rate has trended down for decades, while in recent years stock market returns have soared. The starkness of the disconnect is perhaps best shown using 45-year periods.Have managed money for clients as an independent advisor since 1991. Published a newsletter ECONOMIC LEADS from 1988 to 1993. Have an economics degree from Vanderbilt University. Focus on the macro picture forecasting the US economy and broad stock market. Also have a model to estimate long term equity returns for ...