According to polling firm Gallup, the No. 1 financial worry for Americans over 30 is running out of money in retirement. Even if that’s not your chief worry, you should know that you’re probably leaving thousands of dollars in benefits – money you’ve earned – on the table.
All over the developed world, the policies that failed are not being thrown out; they’re being stepped up. Stupid. We recognize that our views sometimes seem contradictory. For example, we see central banks pushing up stocks. But we still advise readers to get out.
When we left you yesterday, we were trying to connect the bloated, cankerous ankles of the US economy to the sugar rush of its post-1971 credit-based money system. Today, we look at the face of our government. It is older… with more worry lines and wrinkles.
Today's young graduates are not only the most heavily indebted in history, but also the least likely to be able to pay their debts. Median wages have been going down since these graduates were about five years old… So have economic growth rates.
We focused on the economy. We might just as well have looked at education, health care, human liberty, safety, politics or war. Almost everywhere you look things appear to be degrading. We are less rich, less free, less safe and probably less smart than we were 15 years ago.
Each year, Americans collectively leave billions of dollars in Social Security benefits on the table.
And you could be missing out on thousands… maybe even tens of thousands… of dollars in guaranteed Social Security income.
The falling price of crude oil was first thought to be a good thing. Consumers could spend less on gasoline. But a 60% drop in the price of the world’s most important commodity can’t happen without major disruptions.
A lot of investment decisions had been based on oil selling for over $75 a barrel. Now that it’s trading at about $50 a barrel, there’s $25 missing from every barrel sold.
Where is that old-and-tattered “Crash Alert” flag?
Many times since the start of the rally in U.S. stocks in 2009, we hoisted it. And many times has it failed to give us a useful signal.
report released last week told us that one out of every three people on Social Security’s disability program is a mental defective. In Washington, DC, the rate of nuttiness among the disabled is even higher – 42%. No surprise there.
Outside of the big oil exporting countries and the US shale-oil business this big drop in prices is widely seen as good news.
Consumers fill their tanks at lower gas prices and have a few bucks left over – money that can be used to buy things. According to the current and conventional delusions of the economic profession, this leads to sustained higher economic growth, more jobs and a cure for impotence.