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Reader William Young comments:
Regarding your article about the Dow, the more relevant numbers to quote would be from about 9 months later when the peak of the tech stock bubble occurred. Off the top of my head, I believe the numbers were 11,750 for the Dow, 5050 for the NASDAQ, and 1550 for the S&P 500. The Dow is now slightly lower, the NASDAQ is less than half of what it was, while the S&P is down close to 20%. This covers a period of 8 years and includes some of the peak earning years of Baby Boomers as they are nearing retirement age.
Encouraging people to invest their retirement savings in speculative investments is one on a list of incredibly socially backwards practices we have in the US, along with tying medical insurance to employment and allowing a necessary commodity such as housing to be treated as a speculative investment.
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Number of African countries with vaccination rates higher than that of the United States:
Iowa urologists reported that only a minor portion of locker-room teasing arises from “the presence of excess foreskin”; most teasing targets small penises.
A farmer in Surrey, England, was ordered by the Reigate and Banstead Borough Council to tear down his cannon-equipped castle, which he had built secretly and then concealed behind hay bales.
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“Shelby is waiting for something. He himself does not know what it is. When it comes he will either go back into the world from which he came, or sink out of sight in the morass of alcoholism or despair that has engulfed other vagrants.”