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This is an important thing to note when someone claims that you should be eager about stock market performance because of your [comparative handful of] shares in your retirement account. Accounts such as the 401k were probably devised to tie up regular people's money into the stock market, injecting more money into it and making it seem more important (and thus worth bailing out).
They were devised to get rid of pensions so companies didn't need to care for their employees, they could just have the option to match input, but retirement was made to be 100% on us.
More bullshit to benefit corporations, but to be honest there are so many scumbags out there and so many pension plans that were stolen from, I don't know how to feel about it.
It was also devised so that when a crash occurs, the lower classes get wiped out, the rich still have piles of cash, and they get to buy up everything at fractions of a penny on the dollar.
You know exactly how to feel about it. Douchebag MBA's who think they're Masters of the Universe gamble with other people's retirement money. And all those sweet sweet fees...
We should invest in guillotines.
That and it artificially inflates stocks by creating regular buy pressure. Stocks are almost completely worthless unless you get a whale that wants to buy out the company or a large controlling share. It's not like you can just cash in your share to the company and they give you a percentage of the current value. You have to find someone else that wants to buy it.
This point is huge and seemingly overlooked by most people? Once a majority of boomers start pulling their 401k money I don't think millennials and gen x will be putting as much money back in.
They really cooked up such a great Ponzi with 401k. I'm sure it'll get rugged right when we come of age to cash out.