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Old 12-17-2018, 03:51 AM
Danny B Danny B is online now
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,885
The default wolf is growling at the door.

Here is a good article on pensions.
"The median retirement account balance among all working US adults is $0. This is true even for the cohort closest to retirement age, those 55-64 years old.
The average (i.e., mean) near-retirement individual has less than 8% of one year's income saved in a retirement account
77% of all American households aren't on track to have enough net worth to retire"
"The data certainly seems to show that the experiment did not take human nature into account enough – specifically, the fact that just because people have the option to save money for later use doesn't mean that they actually will."
No kidding, they ignored human nature.
Here is the embedded vid,
"research conducted by the Pew Charitable Trusts shows a $1.4 trillion shortfall between state pension assets and guarantees to employees."

Jim Willie has lots of news,
12/16 Will landing be soft or “chaotic” as Fed begins to stop rate hike cycle – Reuters
12/16 Major hedge funds are scrambling to prevent financial wipeout – NY Post
12/16 Investors have nowhere to hide as stocks, bonds and commodities all tumble – NYT

Should have bought gold.
2/16 US banks disclose huge unrealized losses on security investments: FDIC – Wolf Street
12/16 Failed by both its major parties, betrayed Britain lurches towards the abyss – Guardian

"Ultimately, central banks might have to resort to QE variations such as “helicopter money.” Originally a thought experiment of Milton Friedman, the government would print money and distribute it to the public to stimulate the economy."
Nope, they're not desperate.
Comparative bubbles,
The bubbles are needed to stave off default.
"Since 2008, governments and central banks have stabilized the situation without fundamentally addressing high debt levels, weak banking systems and excessive financialization."
Right, they stabilized the situation. What about the crashing standard of living?
"The political economy could then accelerate towards the critical point identified by John Maynard Keynes in 1933, where “we must expect the progressive breakdown of the existing structure of contract and instruments of indebtedness, accompanied by the utter discredit of orthodox leadership in finance and government, with what ultimate outcome we cannot predict.”

This article is speculation that the FED will not rescue the stock market.
"Another brutal week left the stock market with its worst start to a December in 38 years,"
"Over the first nine trading days of the month, the Dow is down 5.6%, the S&P is off 5.8% and the Nasdaq is 5.7% in the red. That’s the worst start to a December for all three benchmarks since 1980,"

Last edited by Danny B; 12-17-2018 at 03:53 AM. Reason: mistock
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