“America can still point to individual rags-to-riches stories of self-made men and women who leapfrog to success. But for all the glitz of sudden stardom on American Idol, for all the hoop stars and gridiron heroes from the inner city,… — Hedrick Smith Copy Share Image
“Overall, more than fifty-nine thousand factories and production facilities were shut down all across America over the last decade, and employment in the core manufacturing sector fell from 17.1 million to 11.8 million from January 2001 to December 2011, a punishing toll for what historically had been the best sector for steady, good-paying middle-class jobs. By pursuing a deliberate strategy… — Hedrick Smith Copy Share
“We are literally Two Americas, remarkably out of touch with each other— the fortunate living the American Dream but lacking any practical comprehension of… — Hedrick Smith Copy Share Image
The most common mistakes were investing in money market funds by people who were so scared at the prospect of managing their own funds that they picked the most conservative option, and their investments did not keep up with inflation. The second major mistake was being too heavily invested in their own company's stock, and buying when it was high… — Hedrick Smith Copy Share
“Translating cold numbers into a graphic picture of the hard economic realities in the lives of ordinary people is a challenge. In the 1990s, economist Edward Hyman of the ISI Group devised the Misery Index to capture the stress on average families by costly, unavoidable items that take a big bite out of family budgets and crimp what families have… — Hedrick Smith Copy Share
Less money for retirees means less purchasing power means less economic growth overall. It's a big problem. — Hedrick Smith Copy Share Image
Journalists cover words and delude themselves into thinking they have committed journalism. — Hedrick Smith Copy Share Image
One of the strongest lessons I learned in doing six months of work on retirement topic was how absolutely crucial the Social Security system… — Hedrick Smith Copy Share Image
“Two trends are primarily responsible for today’s hyperconcentration of wealth inAmerica— the collective decisions over time by America’s corporate power elite to take a… — Hedrick Smith Copy Share Image
The main problems are insufficient diversification and the failure to pick age-appropriate strategies - that is, more aggressive when you're younger, and more conservative… — Hedrick Smith Copy Share Image
It really depends upon how much money you have in your account. Having a monthly paycheck come in for the rest of your life… — Hedrick Smith Copy Share Image
“Henry Ford gave that idea popular currency when he brought out the famous Model T car and announced in 1914 that he would pay his workers the then unheard-of wage of $ 5 a day. Not only was it a matter of social justice, Ford later wrote, but it was smart business. When wages are low, Ford argued, business and… — Hedrick Smith Copy Share
“Since the early 1990s, a shadow government has taken root along K Street, the Washington corridor that is home to block after stately block of law firms and lobbying offices. Over the years, this army of influence peddlers has gone well beyond the hunt for votes on Capitol Hill. Smart lobbyists know that it is not just the final vote… — Hedrick Smith Copy Share
