"even if one admits that welfare spending has increased the income of some poverty-stricken Americans. Unfortunately, it's done so at the cost of economy-wide productivity..."
Prove it. Where's the data on this?
https://reason.com/2024/01/04/3-economic-myths-that-need-to-die/?comments=true#comments
Ed McQuarrie talks the REAL History of Stocks and Bond performance.
https://www.morningstar.com/funds/what-doubters-get-wrong-about-6040-portfolio
What the 60 percent stock portfolio and the 40 percent bond portfolio helps your portfolio