RT @doctorow@twitter.com

Think of how US firms ended #DefinedBenefitsPension that guaranteed you a dignified retirement, in favor of market-based #401Ks that forced you to gamble your savings in a rigged casino, making you the sucker at the table, ripe for the picking:

https://pluralistic.net/2020/07/25/derechos-humanos/#are-there-no-poorhouses 67/

🐦🔗: https://twitter.com/doctorow/status/1616821976382717952

Here is a personal belief of mine to explain why the #stockmarket is crashing even though it doesn't feel like it and, outside of tech bubble places, no one is losing their jobs. In fact, basically every non-tech bubble company is hiring right now.

The #babyboomers are retiring. Millions and millions and millions of people have been saving in investments, #IRAs and #401Ks (& equivalents) for decades. Now they are all trying to sell their investments for #retirement cash.