In inflation-adjusted terms, we spent 40 percent less 20 years ago per capita than we do today. How did this happen?
Investing was winning the battle over consumerism until about two decades ago. Then, consumerism started to take over and the national savings rate began a steep downhill slide. Instead of saving about 10 percent per year as a nation, we started spending more and saving less.
Part of the problem is that industry and the ...
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Well let's see, the fact that the government will go broke in 20 years because of irresponsible fiscal discipline (e.g. war in iraq, defaults on health and welfare promises, failing to rebuild infrastructure, need for a new economic model because of the logistics of handling 300 million aging people) an assumption of an 8% rate of return when the 30 year government bond is only 4.5% with inflation about to blow out to 8% (oil and food, though not "core" inflation, roll my eyes) all outside of personal financial control comapred with a very simple truth - the easy path to savings (put aside per month what you want to live on when you retire (1,000 bucks a month when you are 50 for 1,000 bucks a month when you are 70) is the answer that this guy just doesnt have. Shallow as a puddle and will cause financial distress for anyone followinghis advice!
