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To: Cogito Ergo Sum who wrote (88979)4/11/2012 8:36:10 AM
From: elmatador2 Recommendations  Read Replies (1) | Respond to of 218633
 
Pension funds were devised for a time investments returns were guaranteed by the old form of capitalism.

Starting early 80s, when private equity gave rise for a new form of capitalism, economy faced a volatile investment climate in which there weren't any guarantees.

But people -ordinary people- did not perceive that the economy has changed. The economy had become much more complex but ordinary people continued holding the same beliefs that government and economic agents were taking care of their interests.

Today they are waking up for the reality that the whole superstructure built during the old capitalism heyday crumbled and there is nothing new to supersede it. Meaning: they will be on their own.

Always make the connection between what is happening today and correlate it with the old form of capitalism that vanished in the 80s.