Some key data points:
• The average retirement age has crept up by four years over the past two decades, from 57 in 1991 to the current 61
• The average nonretired American currently expects to retire at age 66, up from 60 in 1995.
• More than half of nonretirees aged 58 to 64 expect to retire after age 65, compared with 36% of nonretirees aged 50 to 57, 38% of those between 30 and 49, and just 26% of those younger than 30.
• The average age that current U.S. retirees said they retired is now 61, compared with 59 in 2003 and 57 in 1993.
• Gallup has found that Americans aged 60 to 69 who work have slightly better emotional health than those who do not work, and this relationship is stronger for Americans in fair or poor health.
Can two senators end ‘too big to fail’? Barry Ritholtz Washington Post, May 10 2013 Last month, an unlikely pair of senators — Sherrod Brown, an Ohio Democrat, and David Vitter, a Louisiana Republican — introduced a non-binding resolution calling for the end of the implicit subsidies that “too big to fail” (TBTF)…Read More
My longer form weekend reading material: • How the Case for Austerity Has Crumbled (NYRB) • The changing nature of work: Increasing automation is fundamentally shifting the nature of work away from ‘making stuff’ towards personal services. (piera) • That’s a ‘Depression’: Europe’s Double-Dip Is Officially Longer Than Its Great Recession (Atlantic) • This Is…Read More
Category: Financial Press
5 Reasons that Both Mainstream Media – and Gatekeeper “Alternative” Websites – Are Pro-War Why There Is So Much Pro-War Reporting There are five reasons that the mainstream media and the largest alternative media websites are both pro-war. 1. Self-Censorship by Journalists Initially, there is tremendous self-censorship by journalists. A survey by the Pew Research…Read More
Succinct Summations week ending May 17, 2013. Positives: 1. The S&P 500 and Dow continue to hit new all-time highs. 2. Nikkei rises above 15,000 for the first time since Jan 2009. 3. U.S. retail sales grow 0.1% v expectations of -0.4%; Excluding autos and gas climbs by 0.6% v expectations of +0.3%. 4. Japan…Read More
Click to enlarge Fewer U.S. shares are available to purchase, which is driving prices higher. Repurchases are magnifying gains in U.S. stocks, and are poised to lift prices further, as seen in the Wilshire 5000 Total Market Index. According to Bloomberg, it has risen “more than the market value of all U.S. companies since…Read More
@TBPInvictus here. Things have not been going well of late for the ideologues who also wax economic regarding inflation, interest rates, austerity, etc. They’ve been wrong at every turn. Luskin, Ferguson, Bowyer, Laffer, Kudlow, the WSJ editorialists, and so on. Been a bad five or so years. As Barry has repeatedly pointed out, it is…Read More