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,
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http://www.againstthegrain.org/files/files/atg/atg_2014.11.12_401ks.mp3
African people are already battling against U.S. rightist forces - from the Trump/Republican supporters to the warmongering neoliberal democrats. It would be an affront to our history and people to…
