We’re Relying on Phantom Wealth to Fund Our Retirement

We’re Relying on Phantom Wealth to Fund Our Retirement (Of Two Minds, Aug 12, 2014):

Phantom wealth cannot possibly fund unprecedented retirement and healthcare promises.

The narrative that Social Security, Medicare and pension funds invested in stocks and bonds can fund the retirement of 65 million people is a misleading fantasy.¬†The sad reality is we can’t fund the enormous expense of retirement/healthcare for 20% of the populace out of our national earned income, and the savings that have been set aside are either fictitious (the Social Security Trust Fund) or based on¬†phantom wealth created by speculative asset bubbles in stocks, bonds and real estate.

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