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
To dismiss the logic of Robinson’s “racial capitalism,” one must ignore the only history of capitalism we have.
This week you discussed the struggle against the dollar and neocolonialism.
Britain is, indeed, the “mother country” of US white supremacy, having bythe 13th century become “The First Racial State in the West.”
Nationalism, racism, sexism, homophobia, and other forms of oppression and exclusion are an integral part of the neoliberal order.
The 1971 raid marks a nationwide militarization of police relations with Black protest groups and Africa Americans as a group.
