- His disclosures, both from his final year in Congress and his time as Minnesota governor, also show no mutual funds, bonds, private equities, or other securities.
- No book deals or speaking fees or crypto or racehorse interests.
- Not even real estate. The couple sold their Mankato, Minnesota, home after moving into the governor’s mansion, for below the $315k asking price).
Idk if not having a 401k is a sign of normalcy. I think it is illustrative of the state of the Minnesota economy, relative to the hyper-financialized acceleration in states like New York, Florida, Texas, and California. A statewide elected official who isn’t a former hedge fund manager or white shoe lawyer is a refreshing change of pace. But when the last couple of years have seen double-digit growth in every major stock index while inflation raced to match, it’s honestly kinda scary to imagine a guy who doesn’t have any savings in equity.
I hope this is a sign of a politician who hopes to change the underlying nature of the American economy and not just a guy who didn’t think to buy in during the biggest market boom since '29.
It used to be pretty fucking normal until they got rid of all the pensions. That’s what Tim’s using for retirement instead of playing the
casinostock market.And if we’re getting a pension-friendly VP, I’m here for it. But I’m still waiting to see what a Harris/Walz economic policy looks like.
My experience with pensions has mostly been through my parents/in-laws. And the experience I’ve had with pensions is that companies/governments can just kinda take them away again by pleading poverty during a period of historic economic expansion.
Again, I hope Tim’s nomination implies a change in direction. But… we’ll see.