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Economic levers

Jason Koebler, writing at Motherboard:

We have been told for decades that the banks and the people who work at Goldman Sachs and Fidelity and hedge funds none of us have ever heard of are smarter than us, that they deserve to be rich, that they should be the ones who pull the levers on the economy, that they should decide which companies are good and which are bad, that they should be the ones who help make financial regulations. All along the way they have gotten fabulously wealthy and we have been stuck with stagnant wages, record consumer debt, and financial advice that tells us to wait until we are old to retire.


Stocks In Decline

The Atlantic has a nice article titled The Great Stock Myth, which explains the consequences of the (likely) crappy stock market returns over the next 10 years. When the effects of these poor returns are compounded, the demands put on people to save money for retirement increase dramatically. Incidentally, there’s a nice fact about the Bush administration in here: