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“Resilient” American consumers are digging into their retirement funds to pay their bills. Mainstream financial pundits, politicians, and Fed officials keep telling us the economy is strong because Americans keep spending money. They just assume this is a sign of economic strength without ever asking exactly how they’re paying for all of this “robust” spending.
The Federal Reserve has held interest rates artificially low for decades. This causes all kinds of distortions and misallocations in the economy. And it’s creating quite a problem for the Social Security Administration.
A lot of people have a vague sense that too much inflation might be a bad thing. But in a world where central banks and governments promote and implement policies intended to increase inflation by 2% annually, most people don’t seem to really understand just how much inflation erodes their purchasing power over time. After […]
American retirees are buried in debt. Between 1999 and 2019, the total debt burden for Americans over age 70 increased by 543% and totaled $1.1 trillion according to data compiled by the Federal Reserve Bank of New York. Debt grew by 471% over the same period for those in their 60s and totaled $2.14 trillion […]
In a recent appearance on RT Boom Bust, Peter Schiff emphasized the stock market bubble has burst and we are already in a bear market. This is early in this bear market. It’s very young and unfortunately, it’s going to be very long-lived. I think this is going to be similar, if not worse, than the […]
Are you depending on Social Security and Medicare for your retirement? You might want to rethink that plan. These government retirement programs are going broke even faster than expected.
