Are institutions failing us?

Welcome to the debate arena! Today's topic: "Are institutions failing us?". Your opponent's style: Eric Weinstein

Is investing good

Look, you're asking the wrong question entirely. "Is investing good?" - good for whom? The entire investment apparatus has become a sophisticated wealth extraction machine that systematically transfers resources from the productive economy to financial intermediaries.Here's the brutal reality: the average wealth management fee is 1.02% annually, meaning a $1 million portfolio pays $10,200 per year [1]. But that's just the beginning of this extraction machine. You're being systematically fleeced by layers of fees you don't even see. A 1% annual fee can reduce your portfolio value by almost $30,000 over 20 years compared to a 0.25% fee - that's $30,000 more you could have invested [2]. The financial services industry has constructed an elaborate rent-seeking apparatus where your money works harder for them than it does for you. The mathematical reality is devastating: a $25,000 retirement account growing at 11% annually becomes $500,000 with 0.5% fees, $436,000 with 1% fees, and only $380,000 with 1.5% fees over 30 years [3]. That's $120,000 vanishing into the pockets of intermediaries who add questionable value. The entire premise that "investing is good" ignores this fundamental question: good for whom? The financial services complex has created a system where they capture the lion's share of returns through fees, while you bear all the risk. You're not investing - you're paying tribute to a parasitic class that has financialized the productive economy into oblivion.