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The Gary Null Show – 05.10.17

Confessions of a Wall Street Insider – a look at life of high trader stakes on the Street Michael Kimelman is a former associate attorney at the international commercial business law firm Sullivan & Cromwell. Later he became a stock trader and the founder and managing partner of the New York based hedge fund Incremental Capital. He was among the …

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Yves Smith – More on the Economic Hardship of Young Adults

In the US, the cost of the aftermath of the crisis has fallen heavily on young people, mainly due to bad policy responses to the crisis that we’ve described at length as it was happening: the failure to restructure bad loans (particularly mortgages) and impose costs on banks and investors, not just homeowners; the refusal to engage in enough fiscal …

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Michelle Chen – Is Retirement Facing Extinction?

The American nest egg is facing financial extinction. Aging workers who thought they could relax in retirement face unprecedented economic stressors, according to new analysis of retirement wealth. Data from Economic Policy Institute (EPI) reveals retirement wealth is turning into retirement poverty for a growing portion of working households. The labor-focused think tank finds that “retirement wealth has not grown fast enough to keep …

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Dean Baker – Your retirement prospects are bleaker than ever

The vast majority of Americans who expect to retire in the next decade can count on little income other than their Social Security. This is true not only for low-income workers, who have struggled most of their lives, but also for millions of middle-income workers. Although Social Security is a tremendously important program, and provides a solid base that retirees …

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Paul Street – Verging on Plutocracy? Getting Real About the Unelected Dictatorship

In politics as in medicine, excessively mild remedies are typically based on overly placid diagnoses. Look, for example, at the highly esteemed Columbia University historian Eric Foner’s recent letter of congratulations and advice to Democratic Party presidential candidate Bernie Sanders in The Nation. As I have argued in a previous CounterPunch essay, Foner’s missive failed to correct Sanders on the …