The ‘green shoots’ of economic recovery characterized by Ben Bernanke in mid 2009 are withering as the housing slump drags on, unemployment remains chronically high, consumer spending remains stagnate, Europe’s debt crisis eludes resolution, state governments grow increasingly insolvent, and the economic and ecological catastrophe in the Gulf grows worse by the day. For the second time, the government revised downward their estimate of US gross domestic product from to 2.7%. The first estimate was 3.2%, followed by a correction to 3.0%. Year over year real GDF (inflation adjusted) is up 2.4%, compared to up .1% for the fourth quarter.

There are plenty of stories of how smart or lucky investors made millions of dollars through unique investment ideas, schemes, or methodologies. There are indeed still billions, even trillions to be made by those who make large gambles and bets. Our purpose is not to suggest that the pursuit of market-beating returns does not have its place. There are indeed many investors with talents, knowledge, and acumen to do so. Rather it is our purpose to demonstrate that the performance pursuit is unnecessary and even dangerous for any investor with more important goals; such as educating children, retiring comfortably, or funding scholarships, grants, or buildings.

Since falling steadily during much of May by 12%, equity markets have traded within a 4.5% trading range since May 21st. Investors are struggling to assess what impact the worsening European debt crisis and China’s lending curbs will have on the US and on the larger global economic recovery. Since the breaking news of each, $6 trillion has been erased from equity markets worldwide. 

Employment generally begins to rise a few months or quarters into a typical economic recovery. Businesses see demand for their products and services rise faster than they can fill orders. The last bit of productivity squeezed from their workers and plant, they must hire. But when will we reach that point? We are in recovery from the ‘Great Recession?’ European debt concerns, slowing growth in China, and the greatest man-made oil spill in world history all serve to derail the chugging recovery.