Our Economy’s Clogged Arteries: Financial Advisors’ Daily Digest


My post last Thursday on “A Perfect Retirement Crisis Storm” provoked an active reader discussion and debate. In particular, I appreciate SA contributor Lawrence J. Kramer‘s input. He disagreed with my approach, in an articulate and gentlemanly way, and I will respond in this post. You can read his comments here in full, though I will quote him below. In a nutshell, he faults my emphasis on thrift and prefers an economic policy that fosters greater personal consumption. Here is why I cannot agree:

My read of the U.S. economy is that is suffering from some sort of coronary heart disease. Nothing the Fed nor U.S. fiscal authorities have done since the last fiscal crisis has succeeded in inducing the level of economic growth we enjoyed for a couple of generations prior to the crisis. The Fed has applied the defibrillator, and it has only jazzed up the stock market. The government has…



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