Straight Line of the Day: Why shouldn’t your 401(k) be woke enough to lose money?
Equity, subservience, governance . . . that’s what they should be investing in, right? Even as those companies are closing?
A Biden Labor Dept. Rule Change Could Force Your Retirement Nest Egg To Be Invested in Solyndra-Like Green and Woke Companies
American Thinker | 02/11/2023 | Thomas LifsonJoe Biden is opening the door for the investment management companies that handle the retirement funds of 152 million Americans to no longer seek the best financial returns, but instead fund companies, like Solyndra, that pledge to advance the progressive agendas encapsulated in the expression ESG (Environmental, Social and Governance). The New York Post editorially warns us: “Don’t let Biden & Co. force YOUR nest egg to be invested in woke-only companies.”
Why shouldn’t your 401(k) be woke enough to lose money?
It really isn’t your money now is it? Comrade.
Don’t you know by now that ESG is just reparations by other means?
Al Gore: “Wind and solar power is where it’s at.
Never mind all of those dead bald eagles baking in the sun by wind turbines that look like a buzzard’s dream buffet.”
Throw in 10% for the Big Guy and maybe things will change…
The Big Guy doesn’t move for less than 40%, with the balance of the expected 50 going to family and friends in Congress
This has to rank as the dumbest idea since the unsuccessful attempt to levy a “1” time tax on all the retirement funds in America.
How do you destroy an industry? Easy force them to back companies based on unicorn farts and best intentions.
I am at the point in my life where I care very little about that, but also refused to be stampeded into green industry fraud.
Because my investment management company would soon be out of business if they go along with the government’s ESG – Eradicate Savings Goal.
Of course, the government will have some catchy advertising like:
— “After we force you to withdraw the 401K money and pay the early withdrawal penalty soon to be assessed on anyone under 120, the capital losses are deductible up to $3,000 each year. Stimulus!”
— “AOC said the world is only good for another 8 years anyway.”
— “For every $10,000 you lose, you get another free booster shot (for the plague du jour) and a doughnut.”
— “What the hey? Since JoHo, it’s only a 101K you have left.”
— “Not throwing your hard-earned money away? How dare you!”
Biden’s Plan for American Retirees: The best way to build a small fortune in America is to start with a large one.
Progressive economics: Throw money at it until it’s worth something.
Actual economics: Money is a measuring device. I can’t throw more rulers at something to make it taller. I can’t change my DVM to x10 to get more electricity. I can’t stand on 2 scales and lose weight. I can’t get my beer colder by adding 4 thermometers to the ‘fridge.
That idea of standing on 2 scales is pretty good. Are they in front of the beer fridge?
I recommend a 1 to 1 fridge per scale ratio for best results.
I also saw that they are going to mandate companies automatically enroll employees into 401k’s, increasing their contributions over time. So artificially inject money into the system, drive it to be spent on loony leftist policies with no evidence of benefit. Toats gonna make me rich yo!
Why shouldn’t your 401(k) be woke enough to lose money?
Money is not really lost. It’s being used to pay the 87k IRS agents.
When you’re penniless you’ll vote for the people with solar powered printing presses.
Overwhelming odds are that you will soon be killed by falling balloon debris anyway.
It’s not an investment *%$@&ers, it’s punishment for being *%$@&ers.