This morning's Oregonian carried a recent editorial by Thomas Friedman. Here is the link to the full article. What I found frightening in the article comes mid-way and it is a survey by the Employee Benefit Research Institute. They found that a "sizable percentage of workers report they have virtually no savings or investments." Among those workers polled in its retirement confidence survey, "29 percent say they have less than $1,000. In total, more than half of workers (56 percent) report that the total value of their household's savings and investments, including the value of their primary home and any defined benefit plans, is less than $25,000."
The results shocked me. I've read such numbers before, but not to the degree and high percentages stated in this survey. Friedman has it right in his first two paragraphs. "U.S. foreign policy in the age of Alzheimer's."
Photograph: Cascades – John Fitzgerald, photographer