The true impact of the money system failures are becoming evident as Americans across the nation open their mail and view their new 401K account statements--which for us are down many thousands! If you do not get a statement in the mail (usually quarterly) check online ASAP! And I fear that there is more bad news to come in the next statement. Are we just fools, handing money over each payday to these guys to gamble with? At least in a savings account your principle is protected; in a 401K it can all disappear. And then there are those fees!Related to this, I recommend a book THE BIG SQUEEZE by Steven Greenhouse, the labor reporter for the NY Times, which tells how companies are seeing big savings by nickel-and-diming workers out of things we once reasonably assumed were standard for workers in this great land. The pension fight is over and we lost; health benefits will go next. And clearly, there is no balance of power in the company-worker relationship. Hard times.
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