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    • Who Gets to Be Violent and Why?
      The people who need to a good shit-kicking are most politicians, CEOs, and senior civilians. Well, and cops, obviously. And they need to know the cops can’t protect them from another one. The President, the mayor of New York, the Governor of New York, almost everyone who works for the Federal Reserve, all senior Wall […]
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People, our 401Ks are going to kill us.

That’s it. It’s been the underlying disease for decades. It has been what we base all of our financial decisions on.

I can’t tell people to let it go because many of us have been forced to depend on our 401Ks instead of guaranteed pensions. There has been an intense campaign over the last 40 years to eliminate pensions by the “owners”. An anemic learned helplessness has set in where we see ourselves powerless to demand a more stable guaranteed retirement source. (See my series on Liquidated for more on this) All of that retirement money was released into the market and money managers were incentivized to take irresponsible risks. But we were all ok with it as long as the market was going up, right? Because we learned NOTHING since 2008.

Here’s what I see: we can’t dig ourselves out of this mess unless we let go of of our 401Ks. There has to be a better solution to retirements. Let’s go back to the days when the market was an option, not the only solution.

Compensate the people who lost their retirements since February, shut off the spigot, create new retirement “instruments” and let’s get back to work.