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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
Length in days of the sentence Russian blogger Alexei Navalny served for leading an opposition rally last year:
Israeli researchers developed software that evaluates the depression of bloggers.
A teenager in Singapore was convicted of obscenity for posts critical of Lee Kuan Yew, the country’s founding father, that included an image of Lee having sex with Margaret Thatcher.
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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.”