The meltdown in financial markets does not come as a surprise to our clients. But it is nonetheless tragic. The reckless practices by U.S. and European banks will now lead to the wholesale destruction of those who behaved most ethically—millions of workers who practiced what capitalism’s founding fathers preached: production and thrift. Worse, when the world economy recovers from chaos, it will find itself amidst a huge demographic challenge. Japan and Europe are in the worst position.