The “Money” section of USA Today has a cover story by Adam Shell, “Could Investors Fleeing Stocks Become a Lost Generation?” featuring insights from yours truly. Among other things, I argue that “the lost generation is not coming back” and highlight several reasons why the average Joe may well be on the right side of what I believe is the longer-term trend:

• Investors are trying to make sense of an unprecedented economic earthquake that has left them feeling blindsided and unsure about their economic futures like never before. Nearly 15 million are unemployed, and many have seen the value of their homes — typically their biggest investment — crater.
• There is a feeling among investors, Panzner says, that the investment “game is rigged” in favor of professional traders and money managers. The belief that the playing field is not level has created intense feelings of animosity toward Wall Street.
• The aging of the Baby Boomers has created a demographic headwind for the stock market.
  “More people will be looking to draw down their savings,” Panzner says. “As people get older, they will want to take less risk and protect their nest eggs.”

Some contrarians might say it’s a bullish sign that a mass market daily is playing up the bearish case. Maybe. But given that Wall Street still seems to think that it’s business as usual and that things are in relatively good shape — which most clear-headed individuals know is not true — maybe the greater fools this time around are those they see when they look in the mirror.