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Before the 1970's most professionals and union workers had fixed-benefit pensions run by large corporations, supervised by accountants with very serious looks o
by cgore 13y ago
Before the 1970's most professionals and union workers had fixed-benefit pensions run by large corporations, supervised by accountants with very serious looks on their faces. As 401(k)'s became common for normal workers, instead of just perks for C*O's, all of a sudden their was a massive influx of money into the DJIA and NASDAQ, just as the baby boomers "save for retirement", mostly influenced by people like Jim Cramer and other dancing-finance-clowns.
Also notice that the housing crash happened just as all the baby boomers' children go off to college and they decide to down-size from their McMansions since they are empty-nesters now.
Thirdly notice how now medical expenditures nationwide are climbing greatly now that they are all becoming old and sickly. The next 10-15 years are a great time to be in the medical field, even with ObamaCare. But then as they die off it will be a horrible place to try to get a job.
- chrisgd 13y agoYou think all of the benefit money wasn't in equity markets before 401ks came about? You are taking one potential impact and over exaggerating in every case, but especially in your housing bubble theory.