Wednesday, October 25, 2017 by Martin Mavis
Most Americans are just one paycheck away from total crisis and total panic. Even a small interruption can send people into financial chaos.
Podcast Transcript: “Now depending on which survey you pay attention to, somewhere around 80 percent of Americans are living paycheck to paycheck. Perhaps this is you, but probably not if you’re listening to Health Ranger Report or reading Natural News. You’re a better planner than most people by far, but most Americans are living paycheck to paycheck. This is understandable when you’re young. You’re just starting out. You got a lot of debt. You don’t have much in the way of assets or savings. But these days even people in their 40s, 50s, and 60s, and in retirement are living paycheck to paycheck. Often just living off their retirement funds, their Social Security check and other similar fixed income revenue sources. Now, what’s the big deal about this? The big deal is major financial disruptions are coming. For example, let me give you a very concrete example. We know that pension funds are going broke nationwide and that’s because almost every state has promised far too much in terms of payouts to retirees. So, they have these obligations to retirees and the obligations cannot be met. The obligations were based on wildly optimistic assumptions of stock market’s going up forever. They did not take into account any downturns, market crashes or corrections. As a result…” Listen to the full podcast below: