Tuesday, December 31, 2013

The Disastrous 401K Retirement Experiment

A great majority of Americans are fucked fucked fucked.  The demise of the defined-benefit pension and the failure to increase and expand Social Security during a conversion to defined-contribution 401k-type retirement plans is the next big catastrophe to plague the United States--and it is coming faster than many think.  We are gonna have to do a shitload of on-the-fly creations and expansion of public pensions, but most certainly will only do that AFTER the problem gets as bad as it can be; it would be a great idea to dismantle the 401k laws and do whatever necessary to put all that money into passively-managed public retirement plans which KEEPS THE MONEY AWAY FROM THE BANKSTERS.  Again, this will not happen until the suffering peaks because that's the American way. 

Another fun fact: since almost nobody in the 99% will be able to afford to retire, they keep working till they die and keep younger workers from getting those jobs, thus keeping the unemployment rate higher than it should be.  Fan-fucking-tastic.

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