from The Daily Bell:
There Is No Retirement Crisis … You’re probably going to be hearing a lot about a “retirement crisis” over the next few years. And Democrats think they know just what to do about it. Some academics are convinced that Americans aren’t saving enough, or being provided enough by the government, to sustain themselves in old age. Many Democrats think their party hasn’t adequately addressed the economic anxieties of middle-class voters. Put the two concerns together, and you get a simple plan: Offer people more generous Social Security benefits. Senator Elizabeth Warren is already on board, enthusiastically throwing around the word “crisis.” The good news is that there is no retirement crisis … – Bloomberg
Dominant Social Theme: Everything is OK if you just save a little …
Free-Market Analysis: This is an absurd article. US lifestyles and retirement possibilities have been on a downward arc since at least the turn of the century. And if one goes back and compares the 1950s to the present day, the current financial environment looks even worse. Since 1913, when the Federal Reserve began, the Greenback has lost 95 percent of its value or more. Solvency and accrual are difficult when the system itself is set up to debase the currency.
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