I hate the whole publicly traded model of companies. I hate capitalism. But have to engage in trading stocks (I mostly do Mutual Funds and a small quantity of direct stocks) so that my money doesn’t lose value by sitting in a bank or cash.

Same thing with credit cards, don’t like taking loans and getting marked on a centralised list for that but it’s a safer option than using your own money.

Fortunately I don’t do crypto so that’s a plus.

  • leftofthat [he/him]@hexbear.netEnglish
    2·
    9 months ago

    I addressed pensions in my initial comment.

    Most pension funds have a similar issue in that they are investing in rent seeking etc. But unlike 401ks, pensions carry with them significant political power than can influence where the money is going. This is (imo) why they are being gutted in favor of individual 401k accounts.

    Unions and pensions can be powerful tools. They’re being replaced by Independent Contractors and 401ks.

    If a pension fund looks identical to a 401k index fund then yeah I’d have the same opinion.

    • TheLepidopterists [he/him]@hexbear.netEnglish
      3·
      9 months ago

      This is so fucking tiresome.

      Unions exist to support their members’ interests. To that effect they want the pension funds’ money invested efficiently and safely. They’re not buying bonds for moral reasons (again they’re not, it’s a direct investment in the US Empire) but for security reasons. They’re not buying specific stocks because they’re more moral, but because they look like promising investments.

      It’s not morally better than a 401k, it’s just more efficient and removes the individual worker from having to deal with the investments personally.

      They’re being gutted because it’s cheaper for the companies who are extracting every dime they can from their workers.

      So I guess revised list of options

      1. Pension - only if you’re a dirty rent-seeking landlord
      2. 401k invested identically to a pension - only if you’re a dirty rent-seeking landlord
      3. social security - not viable
      4. die at your post - leftofthat approved
      5. shovel more money directly into the empire’s coffers - leftofthat approved
      • leftofthat [he/him]@hexbear.netEnglish
        2·
        9 months ago

        Damn those are some bleak options, yeah. Almost like the US is a capitalist hellscape or something.

        “Join us or perish” is what they seem to be signaling, yeah.

        Apparently you see that as only having two choices and are going with “join them,” which is fine I’m not your morality coach. I’m certainly not asking you to sit down and die.

        You can rationalize it all you want. That you have no choice but to participate. I hear it all the time from people telling me to vote for Biden.