We past a dark milestone: more money came out of 401(k)s then went in

Fabius Maximus website

Summary: Lost in yesterday’s festival about the latest meeting of America’s central planners (wielding tools that Kings of the pre-modern world would envy) was a small article in the Wall Street Journal announcing that we have passed a small milestone on the road to a harsh future.  {1st of 2 posts today.}

WSJ: funds flowing out of 401(k)Wall Street Journal, 16 June 2015.

America passes an important inflection point

The boomers pass through America like a sheep through a snake. In our wild and crazy younger days we dragged the nation into miniskirts and riots. In our old age into censors on our language and behavior.

Our effect on prices has been equally large. What we buy goes up in price. What we sell goes down. Our long journey into adulthood has put wind into the sails of home and stock prices. Our retirement will turn us into sellers of these assets, with the…

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