GSY - Boom-Bust Cycles Have Increased Savings Deficits
Extreme monetary accommodation and share buybacks have extended the last three economic expansion cycles since 1991, but magnified savings and investment deficits through the economy at the same time. For one important example see WSJ: Long Bull Market has failed to fix Public Pensions.
Pension liabilities (in yellow below) have compounded faster than assets (in blue) over the last 20 years, while contributing workers have stagnated and the number of retirees looking to withdraw has doubled.
At the same time, individuals have fallen further and further behind in their savings goals with each bear