Mush, you huskies. And roll them dice, campers.

Retirement investing used to be easy. Save money, park it in interest-bearing instruments, and live off the income, with Social Security and maybe a job pension to help. Not complicated and it worked well for decades. But about the time the oldest Boomers began reaching their mid-60s, this thing called “interest” mostly disappeared as committees and politicians decided to favor borrowers by keeping rates ultra-low. And just like that, retirement broke. The old method stopped working.

This left retirees and pre-retirees little choice but to “stretch for yield” in riskier assets. Indeed, that was the plan. The Federal Reserve under Bernanke, Yellen, and now Powell explicitly wants investors to take more risk. It’s the other side of their desire to encourage borrowing. This is also called “financial repression.”

"Mauldin: Everything Is Broken." By John Mauldin, ZeroHedge, 3/6/21.