[budududuroiu]

> Second, that capital is trapped in an institutional arrangement that charges enormous fees to match the performance of a simple index fund, while the money deployed through these intermediaries actively harms the communities pensioners live in: buying up their housing, closing their hospitals, bankrupting their local employers, gutting their newspapers.

This is the same argument that Ann Pettifor has about how the poor allocation of pension funds is because "it’s much easier to make money from gambling and speculating than it is from investing in the land on the one hand, in the broader sense of the word, or investing in labor"

https://annpettifor.substack.com/p/on-pensions-and-the-globa...