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Originally posted by Tyrone Slothrop
How do you explain stock market returns over time that outpace economic growth by so much?
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Adder has my proxy on this one, apparently, but - the simple answer is that the stock market isn't the economy as a whole. It would be surprising if the stock markets didn't grow faster than the general economy, because it makes sense that people with excess capital to invest would choose invest it in the more efficient segments of the economy.
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But then who's paying for our parents' retirement? ... No one is suggesting that we shirk the duty. ... Because the social compact we inherited, borne of the Great Depression, is that we pay for current retirees, and anothe[r] generation will pay for us.
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I'm suggesting it. Fuck my parents. Compared to me, compared to our entire generation, they're rich bastards, with their pensions and their medicare. Fuck 'em. Why should the working poor - even the working sort-of-rich like us - continue to subsidize what is now the richest segment of the population? (If the money was actually going to the poor and assetless who are no longer able to work, that would be an entirely different story. But by and large, it isn't.)
And, in case you missed the memo - no other generation is gonna pay for us, boyo. Someone is getting the shaft in this mess, someone is paying twice, and, frankly, I think I've already paid out quite enough for others to get a benefit I'm never gonna see.
BR(leading the charge in the inter-generational wars to come)C
