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
Congo police killings, Eritrean festivals attacked, the climate crisis, and resisting US militarism.
Maurice Carney is Executive Director of Friends of the Congo.
Elias Amare is a journalist and editor at Horn of Africa TV.
Forrest Palmer is a native of Los Angeles, California who is now an electrical engineer residing in Houston, Texas
Margaret Kimberley was among the guests on Women Rising Radio Program 45: Resisting US Military Bases and Domination
