401-K: A Smoldering Mirage?
Hey internet friends. Great news…America has more 401(k) millionaires than ever before! Hooray…but there’s one little thing: one million dollars today doesn’t buy what it did six years ago in 2020. On top of that, the money Americans set aside for retirement may be funding the destruction of America.
For decades, we’ve been told that the 401(k) represented independence, ownership and a security. Meanwhile, trillions of dollars flowed into a small group of “asset managers” like Larry Fink with the power to influence American companies, energy policy, infrastructure and even the federal government itself.
In this video, we follow the money from the disappearance of traditional pensions to the coal antitrust case involving BlackRock, Vanguard and State Street; BlackRock’s role during the 2008 financial crisis and COVID era; and the enormous data center buildout now being funded in part by the savings of ordinary Americans. Here’s more from Really Graceful.
