Saturday, February 27, 2021

Tag: 90% Gains

409Ks, 90% Gains, The Fed and Darth Vader’s Warning

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by Charles Hugh Smith, Of Two Minds:

The worship of mortals as demi-gods and faith in Golden Idols triggers a turn in the karmic wheel as near-infinite hubris invites divine retribution.

In case you missed it, here’s a snapshot of the most recent Federal Reserve board meeting:

It’s certainly a peculiar moment in history when the President chides everyone who hasn’t gained 90% in their 409K (sic), seemingly unaware that only the top 5% have enough in a 409K to make a difference.

409Ks, 90% Gains, The Fed and Darth Vader’s Warning

0

by Charles Hugh Smith, Of Two Minds:

The worship of mortals as demi-gods and faith in Golden Idols triggers a turn in the karmic wheel as near-infinite hubris invites divine retribution.

In case you missed it, here’s a snapshot of the most recent Federal Reserve board meeting:

It’s certainly a peculiar moment in history when the President chides everyone who hasn’t gained 90% in their 409K (sic), seemingly unaware that only the top 5% have enough in a 409K to make a difference.

President Trump and the Federal Reserve agree: the “solution” to inequality and malaise is to boost the 409Ks of the top 5%, leaving the rest of the American workforce as glorified servants of the few who benefit from a record-setting stock market.