Less money for retirees means less purchasing power means less economic growth overall. It's a big problem.
Hedrick SmithOnly if enough ordinary Americans speak up and demand better from both their employers and their government is the system going to get fixed. But first of all, we have to understand how serious the problem is.
Hedrick SmithThe children of baby boomers should take very seriously the consequences for them of the inadequate funding for them of the baby boomer generation. This is a huge economic problem for the nation, not just for individuals or individual families. Think about it for a minute - if retirees become 20% of our population and their purchasing power falls below what has been normal for retirees in the past, one important engine driving our economy will be diminished.
Hedrick SmithThe main problems are insufficient diversification and the failure to pick age-appropriate strategies - that is, more aggressive when you're younger, and more conservative when you approach retirement. But even then you have to invest for growth.
Hedrick SmithTelevision's compelling power is its immediacy . .. this immediacy feeds the politics of emotions, gut reactions and impressions rather than the politics of logic, facts and reason; it emphasizes personality rather than issues.
Hedrick SmithRussians will consume marinated mushrooms and vodka, salted herring and vodka, smoked salmon and vodka, salami and vodka, caviar on brown bread and vodka, pickled cucumbers and vodka, cold tongue and vodka, red beet salad and vodka, scallions and vodka-anything and everything and vodka.
Hedrick Smith