Letters to the Editor
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Goolsbee is Obama's Achilles Heel
... and this 'ideology' is somewhat pathetic. Give it to the University of Chicago, birthplace of Friedman, and perhaps it's intellectual godfather. But hey, it's new, so it must be good.
I have a 401K plan, and I'm glad I do. But I did not enroll immediately because they used to force us to put the whole thing in our COMPANY STOCK. So I refused for several years. Now they have broadened it. But even an index fund is problematic if the outlook of the whole economy is down.
And in the longer term, lets say you combine an appreciation of 'peak oil' with a list of the companies on the NYSE that are NOT involved in oil. Since most are, they are over-valued, especially when people realize oil is running out. So, long term, the stock market is not going to be very useful, even given index funds. Unless solar or wind or wave companies enter the index. Etc. Essentially, your 'retirement' is in the market's hands, and I might not want that, but I don't have a 'choice' anymore if I want 'free' money ...