For most of the 20th century, until the 1980s, each generation of retirees had a somewhat higher standard of living than the last. With the Reagan era advent of federal policies encouraging private employers to raid and discontinue defined benefit pensions, that trend stopped. The current generation of retirees are discovering that their 401Ks are almost never sufficient to allow a dignified retirement. They've been robbed. 401Ks are subject to the stock market, which favors insiders, and financial managers and the retirement-industrial complex extract as much as a quarter of all 401K savings in parasitic fees. In this Against the Grain interview James Russell explains why Wall Street loves privatized and individual retirement accounts, and hates defined beneift pensions and social security,
listen
http://www.againstthegrain.org/files/files/atg/atg_2014.11.12_401ks.mp3
Thanks for your support of Black Agenda Report in 2023. We are taking our annual break and we'll be back on January 10, 2024. Power to the people!
test
Alex Saab is free, the displaced Black community of Palm Springs, Haitian resistance, and the political struggle in Guinea-Bissau.
After three years of illegal captivity by the United States, Venezuelan diplomat Alex Saab was freed in a prisoner exchange.
The Black families of Palm Springs' Section 14 were forcibly displaced from their community when city officials developed the area for luxury tourism. Section 14 survivors and their descendants are…
