If you have "no place to go," come here!


What we're in is not part of the business cycle:

[T]his is a one-time reversal of twenty years of inflation of the household balance sheet.

Also Elizabeth Warren's expertise: Household balance sheets. That's why I hope she runs for President!

An aging population needs a 10% savings rate (at least) to meet minimum funding requirements for the biggest retirement wave in US history (comparable to Japan’s retirement wave during the “lost decade” of the 1990s). With 17% effective unemployment, many Americans are dis-saving, after a $6 trillion shock to home equity.

FWIW, and on this I'm sure I'm an outlier, I'd recommend that the elders adopt the attitude that "this is a good day to die" and throw caution to the winds in all areas, including political economy. And learn how to be happy. These two goals are not mutually exclusive, and may even be compliementary. Fuck shuffleboard and being hooked up to a machine with tubes, know what I mean?

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gqmartinez's picture
Submitted by gqmartinez on

Cause it would be nice if the fucking media covered her much more often.

I know a thing about dis-saving. I expected to be unemployed for about 3 (my self imposed break) to 6 months. Turned into a year, which pretty much wiped me clean. Things are tough out there and I hear all too often from people with jobs that you can't trust the media's "dire" coverage, as if things were better than the media represents. We need someone like Warren to be honest with us for a change.

The social contract inherent in Social Security breaks down if the younger generation is unemployed. But that's probably an Obama/Norquist feature, not a bug. Assholes. Any way we can start a "draft Warren" movement?

gqmartinez's picture
Submitted by gqmartinez on

that's a very sobering link.