401K Train Wreck/GOP Driving Retirement To Extinction. [View all]

[TheMastersNemesis]

The GOP designed financial system leaves workers saving for retirement little option except Wall Street crap shoot. Ever since the the repeal of Glass Steagle even if you have money for retirement your only option is some form of 401K. By the time you put money from your next check into your 401K that money is just about guaranteed to be gone by the time you retire. It will be gone due to fees and sudden downturns of the market at just the right time. Saving for your own retirement is really a "no pea shell game" and we need to quit drinking the kool aid.

The 401K which was a GOP idea supported by its business allies was meant to be a supplement to Social Security and other pension plans. Now it is the only vehicle where a worker can put their money. Banks now want to charge you for having savings instead of paying you 3+% for having money in savings. Corporate bonds, municipal bonds, government bonds et al now pay almost nothing in interest because interest rates are kept artificially low to supposedly stimulate the economy.

The conservatives and GOP have completely rearranged the financial system and he average guy is a loser all the time. And the new game is to have American workers investing in global stocks on whatever ponzi scheme the corporations come up with.

And here is the biggest catch of all. Most workers now will never have enough money to even have a 401K because the new Reagan economy creates only jobs you cannot feed a pigeon on. And you cannot really blame Obama because he is stuck with a job creation or rather destruction model that the GOP and its business allies designed since the Reagan years.

Unless we restore the old "social contract" with the work force we have after WWII I really see no future for working American except a "pine box" at the end of the work road.

PS. You cannot really blame Dems because big money and a corrupt media has driven them right ward because any progressive faces millions of dollars against them and voters seem to vote in favor of money and not pro worker politicians. Add these cultural divides and liberal politicians have to run right just to get elected.

Clinton ran as a "new right leaning" Democrat because the voters would have never elected a left leaning pro worker politician and the rest is history. Try running as a "liberal FDR Democrat" and you would get Rand Paul for president.