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Social Security fund to go into the red in 2020; will be completely bankrupt by 2035… governments will desperately find a way to kill off populations around the world

April 29, 2019

Social Security fund to go into the red in 2020; will be completely bankrupt by 2035… governments will desperately find a way to kill off populations around the world

Image: Social Security fund to go into the red in 2020; will be completely bankrupt by 2035… governments will desperately find a way to kill off populations around the world

(Natural News) According to the 2019 annual report published by the Social Security and Medicare Board of Trustees, the Social Security fund will go in the red in 2020 and could potentially go bankrupt by 2035. If nothing is done to boost revenue or re-configure how the money will be distributed, then countless retirees, disabled persons, widows, and surviving children will be left with little to no funds to help them navigate through the most uncertain times in life.

The sad part about this shortage is that Social Security is not welfare; this trust fund is not dependent on tax money. Workers pay into the Social Security system during their working years. The system acts as an insurance once a person retires. The benefits are also paid out to disabled persons, widows, and dependents of deceased parents.

Due to the projected shortages, the U.S. government has a perfect opportunity to begin culling the population over the next three decades, restricting what is paid out through the Social Security safety net. As school textbooks teach children about the problem of “overpopulation,” the government obviously views humanity as a liability.

Social Security may not survive long past its 100th birthday

The Social Security program has been in place for 84 years and has collected approximately $21.9 trillion. In that time, the program has paid out roughly $19 trillion. The program currently has a reserve of about $2.9 trillion, which is divided among two trust funds. In 2020, the amount being paid out will supersede the amount coming in, forcing the program to dig into its reserves. With the trend continuing over the next decade, social security reserves will be dried up by 2035, drastically impacting vulnerable subsets of the population.

 …click on the above link to read the rest of the article…

The Fourth Turning & War of the Worlds

November 5, 2018

THE FOURTH TURNING & WAR OF THE WORLDS

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“In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses and further emergencies. The core elements of these scenarios (debt, civic decay, global disorder) will matter more than the details, which the catalyst will juxtapose and connect in some unknowable way. If foreign societies are also entering a Fourth Turning, this could accelerate the chain reaction. At home and abroad, these events will reflect the tearing of the civic fabric at points of extreme vulnerability – problem areas where America will have neglected, denied, or delayed needed action.” – The Fourth Turning – Strauss & Howe

The paragraph above captures everything that has happened, is happening, and will happen during this Fourth Turning. It was written over two decades ago, but no one can deny its accuracy regarding our present situation. The spark was a financial crash. The response to the financial crash by the financial and governmental entities, along with their Deep State co-conspirators who created the financial collapse due to their greed and malfeasance, led to the incomprehensible election of Donald Trump, as the deplorables in flyover country evoked revenge upon the corrupt establishment.

The chain reaction of unyielding responses by the left and the right accelerates at a breakneck pace, with absolutely no possibility of compromise. A new emergency or winner take all battle seems to be occurring on a weekly basis, with the mid-term elections as the likely trigger for the next phase of this Fourth Turning.

…click on the above link to read the rest of the article…

Your pension could be at the center of America’s next financial crisis

March 27, 2017

Your pension could be at the center of America’s next financial crisis

Your pension could be at the center of America's next financial crisis

I’m not a fan of the “greed is good” mentality of Wall Street investment firms. But the next financial crisis that rocks America won’t be driven by bankers behaving badly. It will in fact be driven by pension funds that cannot pay out what they promised to retirees. According to one pension advocacy organization, nearly 1 million working and retired Americans are covered by pension plans at the risk of collapse.

The looming pension crisis is not limited by geography or economic focus. These including former public employees, such as members of South Carolina’s government pension plan, which covers roughly 550,000 people — one out of nine state residents — and is a staggering $24.1 billion in the red. These include former blue collar workers such as roughly 100,000 coal miners who face serious cuts in pension payments and health coverage thanks to a nearly $6 billion shortfall in the plan for the United Mine Workers of America. And when the bill comes due, we will all be in very big trouble.

It’s bad enough to consider the philosophical fallout here, with reneging on the promise of a pension and thus causing even more distrust of bankers and retirement planners. But I’m speaking about a cold, numbers-based perspective that causes a drag on many parts of the American economy. Consider the following.

Pensioners have no flexibility

According to a Bureau of Labor Statistics report from 2015, the average household income of someone older than age 75 is $34,097 and their average expenses exceed that slightly, at $34,382. It is not an exaggeration, then, to say that even a modest reduction in retirement income makes the typical budget of a 75-year-old unsustainable — even when the average budget is far from luxurious at current levels. This inflexibility is a hard financial reality of someone who is no longer able to work and is reliant on means other than labor to make ends meet.

…click on the above link to read the rest of the article…

Trumping the Federal Debt Without Playing the Default Card

August 19, 2015

Trumping the Federal Debt Without Playing the Default Card

“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.”

— Former Fed Chairman Alan Greenspan on Meet the Press, August 2011

In a post on “Sovereign Man” dated August 14th, Simon Black arguedthat Donald Trump may be the right man for the presidency:

[T]here’s one thing that really sets him apart, that, in my opinion, makes him the most qualified person for the job:

Donald Trump is an expert at declaring bankruptcy.

When the going gets tough, Trump stiffs his creditors. He’s done it four times!

Candidly, this is precisely what the Land of the Free needs right now: someone who can stop beating around the bush and just get on with it already.

Black says the country is officially bankrupt, with the government’s financial statements showing a negative net worth of $17.7 trillion:

Nations that pass the economic point of no return can’t rebuild until they hit rock bottom. And the US is way past that point. So let’s get on with it already and hit the reset button.

Black recommends doing this by defaulting, preferably on Social Security and Medicare. But that is unlikely to sue to this leading Republican candidate. As Trump said on Meet the Press on August 16:

I want people to be taken care of from a healthcare standpoint.… I want to save Social Security without cuts. I want … a strong country with very little debt.

How can the country remain strong with very little debt, without defaulting on Social Security, Medicare, or the federal debt itself?

There is a way. The government can reduce the debt by buying it – and ripping it up. The debt can be bought either with debt-free US Notes of the sort issued during the Civil War, or with US dollars issued by the Federal Reserve in the form of “quantitative easing.”

 

…click on the above link to read the rest of the article…

Another step down the long, slow road to IRA nationalization

January 30, 2015

Another step down the long, slow road to IRA nationalization

Let’s take a brief walk into financial reality for a moment.

At the time of this writing, the United States government’s official debt is nearly $18.1 trillion.

Now, let’s look at who the biggest owners of that debt are:

1) Taxpayers of the United States.

If you’ve held a job in the Land of the Free, 15.3% of your salary has gone to fund Social Security and Medicare.

Each of these programs holds massive trust funds that are supposed to pay out beneficiaries, both present and future.

Conveniently, the trust funds are required by law to buy US government debt.

And given that every single US taxpayer is an ultimate beneficiary of these trust funds, that ranks the people of the United States as among the biggest holders of US debt.

How sustainable is this? Not very.

The 2014 trustee reports for both Medicare and Social Security indicate that nearly ALL of the trust funds are sliding towards insolvency.

 

…click on the above link to read the rest of the article…

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