Posts tagged: 401(k)
Good morning, Netizens…
Yeah, tell me about it!
It sounded so nice, so respectable, so dependable when they signed us up for our 401k’s, didn’t it? However, now that we have wandered down David Horsey’s Carnival Midway where the real wheeling and dealing takes place, the money we invested isn’t worth a fraction of its original value, now is it? The only thing we can be certain of is that our financial worth and savings took a big hit while some faceless, nameless guys who own the Midway, such as the rabid bats at AIG, and thus actually control the how the show runs, made a killing doing so.
In several James Bond movies, there are several references made to crooked roulette wheels, where the Bad Guys are capable of manipulating the outcome of each roll of the wheel. In several other movies there are crooked dice, which because they have their edges altered in various ways, can be made to fall in more predictable ways. Of course, since the beginning of time there have always been crooked cards, altered to where they could be read by those-in-the-know in high-stakes poker games.
If the truth is known about our current economic and financial woes, it seems to me as if we all were gambling with our investments when we signed up for various fiduciary products, including our 401k plans; it is just that they told us our savings were all so secure. They told us we were being wise and cautious investors, which we should be.
They just didn’t tell us the equipment was all rigged in the favor of Fat Cats could manipulate the outcome in their favor anytime they wanted to do so with insufferable ease. Apparently they did that.
Short of the Ouija board, a shaman or a soothsayer, who can you trust in these days?
Oh, before you answer that loaded question, since you’re going back out into the Carnival Midway, please grab me a box of popcorn, would you please?