So they want to put all of our SSA money into the stock market and hope that it generates enough profit to cover the declining workforce… I’m sure that 401Ks, social security, and banking IRAs all being dependent on the same stock market not failing isn’t a terrible idea.
Anything, everything, just to continue draining all possible dregs of M2 money supply into the stock market, artificially inflating it’s values. That’s why 401k’s exist and not pensions; the gambling machine only continues to work if there is effective infinite liquidity to continue pumping up it’s values. And scamming the working class into “saving” by dumping their cash into said gambling machine is just another way to do it.
eh, the idea is to pump it as high as possible so you can slam it down even harder. when you know how the casino works, you can make just as much (if not more) on the bust-end of the boom/bust investment cycle
That’s why 401k’s exist and not pensions
Honestly, pensions in the USA today are more risky than 401ks. Pensions require the parent company to still be solvent 30-50 years. A number of formerly bellwether companies with heavy pension burdens have gone under an the the pensioners only receive a fraction of the promised benefits.
Some of the public pensions look very worrisome too. As an example, I have no idea how Detroit is going to manage their pension commitments with its rising costs, declining population, and high number of pension members.
For all its faults, 401k money is the employee’s the moment its paid with no dependency of the employer to be around afterward.
