The Shiller CAPE market valuation ratio is now over 27, which is near the level before the market crash in 1929.
"If machines produce everything we need, the outcome will depend on how things are distributed."
The profit margins debate could lead to an unsettling conclusion.
“The internet is shit today. It’s broken. It was probably always broken, but it’s worse than ever.”
Le capitalisme enfante des monstres.
Jody Sofia borrowed $92,500 to get a degree from Florida Coastal School of Law. Now she’s in default, her outstanding balance having ballooned to almost $144,000, and she spends her days fielding calls from government-contracted debt collectors.
“Since our research is free from financial obligations, we can better focus on a positive human impact.”
Implicit in this: You can do more good operating outside the bounds of capitalism than within them. Coming from folks who are at the upper echelons of the system, it’s a pretty powerful statement.
According to a Google Consumer Survey, 51.8% of millenials have less than $1,000 in savings. 18% have $1,000 - $5,000 in savings.
This seems consistent with other surveys that indicate Americans don't save well, and for this particular age group the Great Recession probably has a lot to do with it.