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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 07/05/2026

Annihilating a third of the stock market will have severe knock-on effects, even though the median US worker only has $955 saved for retirement: finance.yahoo.com/news/955-sav... 49/

finance.yahoo.com

$955 saved for retirement? Millions are in that boat.

The typical American worker has less than $1,000 saved for retirement, according to a new report from the National Institute on Retirement Security (NIRS).

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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 07/05/2026

Because wiping out the life's savings of everyone else will tank consumption for a generation. Retirees who have to sell their family homes to pay their medical bills won't be buying breakfast at the local diner or catching a Tuesday night movie. 50/

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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 07/05/2026

They won't be indulging their grandkids with nice birthday presents or helping their own kids buy their first home. 51/

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Mike Hutchinson @hutchymon.bsky.social · 07/05/2026

This is happening now btw

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