Marshall Auerback — Even a deal on the budget is bad for the American economy

Policy formation must distinguish between financial provisioning and real provisioning for the future; only the latter can prepare society as a whole for coming challenges. While individuals can, and should, save financial assets for their individual retirements, society cannot prepare for waves of future retirees by accumulating financial trust funds. Rather, society prepares for aging by investing to increase future real productivity. Unfortunately, no such discussions are taking place, which is likely to lead to a bad to horrific policy outcome.

Pinetree Capital — Macrobits
Even a deal on the budget is bad for the American economy
Marshall Auerback | Corporate Spokesperson, Pinetree Capital Ltd
(h/t Kevin Fathi via email)