On August 3, 2006, by a vote of 93 to 5, the US Senate passed the “Pension Protection Act of 2006″, already approved by the House of Representatives on July 28, 2006 and now going to President Bush to be signed into law. This massive bill (907 pages) is a major piece of legislation that, like […]

According to Federal Reserve flow of funds table B100e, ownership of equities, as a percent of total household assets has ranged from 20% to 25% since 2002 — about the same level as in 1994-1995, before the speculative bubble over the turn of the century. How can this be? Flow of funds table F100 shows […]

In a recent study of the effect of the retirement of Baby Boomers on the price of equities, the GAO based its conclusions on the assumption that equities will provide real returns of over 7% over the next decades, stating: […]