I hate the whole publicly traded model of companies. I hate capitalism. But have to engage in trading stocks (I mostly do Mutual Funds and a small quantity of direct stocks) so that my money doesn’t lose value by sitting in a bank or cash.
Same thing with credit cards, don’t like taking loans and getting marked on a centralised list for that but it’s a safer option than using your own money.
Fortunately I don’t do crypto so that’s a plus.
Like a savings bond? Is that what you’re asking?
So instead of a stock index fund, which is where a pension would have put the money anyways if I were lucky enough to have one, I should give the money directly to the US government to hold onto so they can ensure that they can afford Israel’s bomb budget? That’s way more ethical?
EDIT: like the ethics gap is so big that anyone who just puts the money in the stock index instead of choosing to give it to Uncle Sam is a “rent-seeking ghoul” who should “feel dirty?”
“so they can ensure that they can afford”
They don’t need your money
In an economy based on generalized commodity production, you actually do need a certain amount of money to sustain yourself.
Whatever helps you sleep at night while paying not only taxes into the US military’s budget, but voluntarily buying bonds to fund them.
Do you see how this conversation is asinine? There is no ethical choice under capitalism.
There’s a moral difference in owning a savings bond and being a landlord. Sorry if you don’t want to engage with that and think it’s all a wash because nothing is ethical under capitalism.
Having a savings bond and being a landlord are different and both are different from having a 401k account that is invested in mutual funds.
Putting your retirement savings in a mutual fund doesn’t make you a capitalist anymore than owning the savings bond makes you a bomb manufacturer.
I said above:
We can disagree there, then. There’s a much cleaner and direct connection between a fund and rent extraction than there is between a savings bond and a bomb. That’s exactly my point. These details matter.
You can lump it all together if you want. I see more nuance.
I don’t agree that the connection is much more direct.
Do you feel the same way about pensions?
EDIT:
Also, when I was 19, making less than minimum wage waiting tables at a buffet, struggling to make my half of the rent payments for my shithole apartment I put what I could spare into a 401k. I didn’t look at the investments at all, which means they were whatever the fund did by default, aka probably stocks. Was I a landlord at the time?
I addressed pensions in my initial comment.
Most pension funds have a similar issue in that they are investing in rent seeking etc. But unlike 401ks, pensions carry with them significant political power than can influence where the money is going. This is (imo) why they are being gutted in favor of individual 401k accounts.
Unions and pensions can be powerful tools. They’re being replaced by Independent Contractors and 401ks.
If a pension fund looks identical to a 401k index fund then yeah I’d have the same opinion.
deleted by creator