Financial Shenanigans

In 2008, when the Ponzi credit derivative scheme collapsed, my 401K corporate bimbo cheerily advised me to double my contributions, in order to make up for all my money they had lost in the collapse.

Say what? Do you think I'm an idiot? You blew my money on your gambling, and now you want me to make up your losses? Oh, hell no.

But then the state of Illinois told us the same thing. Seems that the public pension trustees had blown their wad and our taxes needed to go up to make up for it. You know, to "build the trust fund".

Here's the thing, though. They let it slip that current state employees paid 2/3 of the current retirees income.

Say what? All that taxpayers actually had to come up with was 1/3 of the retirees income? So what was the whole "trust fund" thing about?

Oh, wait! I remember that bullshit! The Evil Reagan told us that in the 80s. The Baby Boomers were a Pig in a Python (they love us and want us to be happy) and needed to prepay our retirement by doubling our FICA funds and putting it into a trust fund, to be used when we retired. The fund was promptly raided by the Evil Reagan to make up for his tax cuts for the rich, but, you know.....whatever.

Now I see people bitching all over the place about the power that Blackrock and Vanguard have. Oh really?

Where do they get that power? Yeah, pension funds.

You are literally funding the destruction of America, the environment, Ukraine, and multiple other atrocities, with your pension contributions, including the public ones you pay for with your taxes. I don't think that workers should ''support the global economy" or prop up the stock market. The financial markets are not a productive economy. They are a parasite on the productive economy, a giant vampire squid focusing its blood funnel on any wealth to be sucked out of actual wealth, as Matt Taibbi pointed out.

Cut off the destroyer's ability to pay for the destruction of America.

Switch to a Pay-as-you-go system, where current workers pay for the stipends of retired workers, the way that Social Security used to be, back when the Greatest Generation paid for their parents' retirement AND paid for the Baby Boomer's hula hoops and Tinker Toys.

This prepaid pension fund is a scam and too many are falling for it. No point in complaining about Blackrock buying up rental property, raising rents and throwing people out onto the street if you support handing them billions in 401Ks and public pension funds.

Stop funding Blackrock! Stop running pension funds through corrupt billionaire.

And you know they are coming next for your Social Security money, if you don't stand up and put a stop to the leeching. https://www.youtube.com/watch?v=y5K2bozek00&t=44s