The Frog in the Frying Pan

Investors are good at absorbing short-term information, but they are much less successful at absorbing bigger structural trends and understanding when secular breaks have occurred.
Perhaps investors are like the proverbial frogs in the frying pan, who do not notice the slow, incremental changes occurring around them.There are three large structural changes that have been slowly but steadily happening. Going forward, the US economy will have to deal with:
(1) higher volatility,
(2) lower trend growth,
and (3) higher structural levels of unemployment.

The Frog in the Frying Pan | John Mauldin | Safehaven.com