Greenspan Blew Chance to Fix Social Security

For the past quarter of a century, stock markets around the world have enjoyed the biggest boom in history. If you'd invested $1,000 on Wall Street in the early 1980s you'd have $13,000 or more today, and the numbers from many overseas markets are even bigger.

There's only one big group of investors who have missed out: those hoping to rely on Social Security in their old age.

In other words, you.

Throughout this period, while equities and other assets have soared, America's most important pension fund has had your money invested in low-yielding government bonds instead. ...