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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:
Commentary — November 17, 2015, 6:41 pm
The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.
Estimated percentage of New Hampshire’s bat population that died in 2010:
A horticulturalist in Florida announced a new low-carb potato.
In Peru, a 51-year-old activist became the first former sex worker to run for the national legislature. “I’m going to put order,” she said, “in that big brothel which is Congress.”
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“Civilization masks us with a screen, from ourselves and from one another, with thin depth of unreality. We habitually live — do we not? — in a world self-created, half established, of false values arbitrarily upheld, largely inspired by misconception, misapprehension, wrong perspective, and defective proportion, misapplication.”