Having 401(k) dollars invested in highly profitable global companies is a good thing. I like my dividends and appreciating equities.
But you wanna know what would be even better? Actually HAVING a 401(k). I lost mine when my employer became economically non-viable due to Walmart-driven changes in our business climate. Our technology company and all its high paying jobs was a victim of a globalizing marketplace.
I know, boo hoo, pity on me.
I wonder...do those Chinese engineers get a 401(k)? Do the soon-to-be-underemployed Utah BDEL staffers get a 401(k) benefit when they go to work as seasonal Snowbird employees?
I hear what you're saying, if by "ostrich politics" you're referring to the folks who refuse to acknowledge the need to be globally competitive in a global marketplace. My point is that we as a county are not competitive. There are very, very few things that we do that are world-leading. Our job base is becoming service and low-tech. Basically those of us left behind will be doing the jobs that can't be easily outsourced. And as wages fall, our standard of living will soon no longer be world leading. China's gain is our loss. Kudos to you for embracing the future. I'm a dinosaur who never wanted to travel that far. I hope my son's do better. One has already worked a spell for an India-based network management firm, so I guess he'll be global enough when he needs to be.