Financial firms want a bigger piece of the $10 trillion in America’s 401(k) plans, and the Trump administration is planning a regulatory rollback to encourage less-regulated — and often riskier — investments.
401(k)s were always a wealth extraction vehicle for the wealthy, they just want a bigger cut now. A pension was an earned and guaranteed benefit. A 401(k) is a gamble for bootraps fetishists.
This is all about having a bigger pool of marks to be left holding the bag when the AI bubble pops. I think capital knows by now that regular retail investors aren’t going to buy the hype enough to buy them out right before the burst, so they need to force them to do so to make sure they keep their money. It’s the same bullshit that had SpaceX trying to get listed on the index funds, only bigger.
401(k)s were always a wealth extraction vehicle for the wealthy, they just want a bigger cut now. A pension was an earned and guaranteed benefit. A 401(k) is a gamble for bootraps fetishists.
This is all about having a bigger pool of marks to be left holding the bag when the AI bubble pops. I think capital knows by now that regular retail investors aren’t going to buy the hype enough to buy them out right before the burst, so they need to force them to do so to make sure they keep their money. It’s the same bullshit that had SpaceX trying to get listed on the index funds, only bigger.