With Wage Stagnation & Deflation (Yes Deflation) Saving For 401K Gone

[TheMastersNemesis]

I believe American workers can forget about retirement using a 401k. With wage stagnation and deflation for most workers there is not enough money to live, save for college, live and build up a 401k. Most Americans are falling short on just money to even live and pay the rent now.

Now that Republicans believe they will take control of Congress and rig the vote for 2016 presidential election one thing is sure. That is there will be massive deregulating legislation. When you say you do not believe in a minimum wage at all you are saying that you are willing to abolish the Fair Labor Standards Act and essentially make unions illegal. The end of the FLSA means the end of all the other significant labor gains like the 40 hour week, overtime, et al.

And remember folks the "no minimum wage" chatter is code for the end of FLSA. Such action will complete the economic castration of the American work force. Just remember another post on here about some Indian nationals getting $1.21 an hour. And Thom Hartman brought up an interesting anecdote about Ohio requiring 20 hours a week work for food stamps. That means for just a few dollars in food stamps which won't feed a pidgin is about 50 cents and hour.

Now I know I keep repeating myself. I said ever since Reagan that we were headed for an $8 - $10 an hour back in 1981 when I was still at DOL. Look around. Are we getting close yet?

Now is you are ok right now and have a good job or believe you do you are still a target for low wages. When alleged less skilled workers are condemned to absolute poverty you are next over time.

The younger generations are headed for a work until you are 45-50 then get a cheap job and literally starve or work until you are put in a pine box. As long as workers stay anti labor and anti union and are blinded by their bigotry and vote GOP politicians owned by the billionaires it will only get worse.

I with to HELL workers would wake up.

Addendum: Yes those Indian workers will get paid thanks to DOL. However the GOP probably would turn DOL over to the individual states or shut it down altogether.

[MiniMe]

1. I've come to the unfortunate conclusion that my parents generation was the last that was able to

retire comfortably. My father did well, made wise investments, and was able to retire with a pension. My Mom had a pension too. I never worked a job that had a paid pension. They have both passed on now. I am lucky that they did well. I inherited a bit of money, and a paid for house which is too big for me.

[BuelahWitch]

2. "I wish to hell workers would wake up!"

It would be nice if workers would get out of the mindset that the current crumbs are all that they deserve, that their real problem is "Mexicans taking all the jobs" and that unions are big, bad organizations that will turn you into a commie. If you grew up in an era that was more progressive, or had family members who belonged to a union, it is easier to get out of that mindset. Problem is that a great many people today grew up after Reagan and PATCO. Bring right wing propaganda radio and finally Fox News telling these people that other poor people are the enemy and you get the attitudes that you have today. It would be nice if we could have a national deprogramming of this shit.