zlacker

>>gwintr+(OP)
The "5. The Human Wreckage" section is probably the most interesting - on paper, everyone came out much worse (losers identified are workers, pension holders, shareholders, investors and executives which seems superficially comprehensive).

However it is important to recall that the people who actually made all the money extracting the wealth got out years before, retiring and/or selling stock. They're bystanders now and probably happy to run the whole operation again.

Although as an aside who these people are who think corporate pensions are a good idea is beyond me. People really should be in charge of their own savings in preference to their employer, expecting some random corporation to cover the cost was always a bit crazy even when it seemed sort-of possible that the system was stable. It is easy to have some sympathy but, as a practical matter, it was never going to work and it isn't a surprise that it didn't.

>>roenxi+Hd
I do understand the argument that a lot of people won’t really save money left to their own devices. And I’m not unhappy to be receiving a modest pension from a decades ago job I probably didn’t give more than a minute’s thought to at the time. But don’t really disagree that for people who are reasonably disciplined about savings, getting the money as salary is probably the better deal.

>>ghaff+Qb1
Disciplined people will almost always do well (ignoring unfortunate circumstances, mainly) - it's the undisciplined that the system has to be sure to protect.

Of course, the goal should be to turn undisciplined people into disciplined ones over time.

>>bombca+7i1
These people are "undisciplined" because they have no idea how profitable investing is. Neither do educators (pensioned) and a lot of people have an ingrained misconception that you are going to lose money "in the stock market."

They hear of possible returns like 10-15% and shrug and look at bear markets as harmful to their wealth.

Really an education issue but it is complicated. Stuffing money in a mutual fund is risky and also not an option if you are behind. A lot of people are behind.

>>datavi+XJ1
It is difficult to be "disciplined" when you are trying to afford the rising costs of rent, car payments, childcare, and food. A majority of people live pay cheque to pay cheque, and are lucky to save a few thousand dollars.