The Pandemic will Detonate a Trillion Financial Bomb in America. Here are some Steps You Need to Take Right Now to Prepare.
“Retirees will pay the price if we don’t act now.” – CNN
According to Robert Kiyosaki we’ve reached a critical moment in history, and what happens in the next 12 months could have a massive impact on your finances and your quality of life for years to come.
You see, there is a crisis brewing in this country… And it’s going to blindside millions of Americans just like Covid-19 did.
But this new crisis isn’t another virus or superbug… It’s not a disease of the body at all. Instead, it’s an affliction that directly affects the financial well-being of 50 million Americans.
And even if it doesn’t directly affect you… The resulting financial chaos it creates could destroy any chance you have for a comfortable future.
especially if you’re on the verge of retirement right now.
As Business Insider warned: “Many retirees are in for a rude wake-up.” And PBS sponsored NextAvenue.com advises: “Americans in their 50s and 60s nearing retirement may be among the most endangered.”
It’s why former U.S. Representatives from both sides of the aisle took to CNN to caution: “Retirees will pay the price if we don’t act now.” Unfortunately, they might not have sounded the alarm in time. Because their warning came back in 2019. But since that editorial was published, recent global events have accelerated the timeline…
And now we’re about to experience…
The Greatest Retirement Crisis
America Has Ever Seen
Unfortunately, most people aren’t even aware that a problem exists, much less how this disaster will impact them. But it has become so massive, we’ve reached the point of no return. Lance Roberts of Zero Hedge calls this crisis “unavoidable…”
And the few people who understand what’s about to happen are terrified of what’s about to come. Like billionaire Warren Buffett who calls this pending economic crisis a “disaster.” And the treasurer of Cook County, Illinois who sits at an epicenter of this crisis.
According to the New York Times she warns:
“It’s like a rubber band that’s been stretched too thin.
What I’m telling you is, the rubber band is about to break.”
And when that happens… So could the way of life you’ve known as an American.
Most Americans Are
Woefully Unprepared For What
is About to Happen
And the results for millions of Americans could be devastating.
You see, America is facing a massive pension crisis… A second “pandemic” that’s about to hit our economy like a tsunami.
“The sheer magnitude of the rising costs [from the pension crisis] is staggering.”
And for once, they are right. In fact, the numbers are truly mind-blowing.
Despite the benefits of a record 11-year bull market, the problem just keeps growing.
As little as two years ago, Wharton estimated that public pensions are underfunded in the U.S. by $4.4 trillion…
But by last year the unfunded liability of public pension plans had grown as high as $6 trillion.
This means millions of Americans who worked hard and saved their entire adult lives are facing potential financial ruin in retirement due to these underfunded pension schemes.
And public pensions are just part of the problem. Per investors.com:
“Twenty-five S&P 500 companies, including International Business Machines (IBM), GE (GE) and General Motors (GM), collectively face $1 trillion in pension benefit obligations.”
According to a report from the Economic Policy Institute, U.S. corporations are not only underfunding their pension plans… They’re underpaying their retirees an estimated $8 billion in annual pension payments. So, folks relying on a private pension could be facing equally devastating losses to their retirement income.
Now, these numbers are massive… But what does this have to do with you and YOUR retirement?
Well, according to the Pensions Rights Center, roughly one quarter of all public and private workers have pensions. And with 73 million Baby Boomers either retired or about to retire… It’s putting a massive strain on an already crippled system. And when you add in Social Security liabilities…
The U.S. pension shortfall is at least $28 trillion.
That’s almost a third MORE than the entire U.S. GDP in 2019. In other words, the U.S. is on the hook for trillions of dollars it is unable to generate through the normal production of our economy… And eventually regular Americans like you will be forced to shoulder this burden. So, if you think this retirement crisis won’t affect you because you don’t have a pension… Or you’re in the clear because you have a 401(k), a 403(b) or another similar retirement plan… Or even if you have no savings at all…
Then I’m afraid you’re in for a rude awakening. Because the Fed has proven that their only “solution” to financial crises is to print money like never before… And very soon this policy will expose the fragility of our financial ecosystem.
Look, we’re already dealing with a recession due to the impact of the coronavirus pandemic. And the Chairman of the Fed recently predicted:
“An economic recovery could take until the end of 2021”
But consider this… What happens if – before this supposed recovery occurs – the pension crisis submarines all hope for our economy to return to normal.
It’s the Story No One
is Talking About
Certainly not in the mainstream media. Sadly, individuals declaring bankruptcy…Small businesses shutting their doors for good… Even major corporations going bankrupt… They’re all things we’ve seen before. And as devastating as it is both to our economy and on an individual level…
In today’s polarized media climate… it’s old news. But what happens when a city finally succumbs to pension obligations it can’t maintain… And finds itself unable to pay its workers? Meaning it no longer has the money to pay for basic services like firemen, teachers or police… And money that should be going to public works projects and infrastructure ends up going towards paying down pension obligations it can no longer afford.
Fact is, cities all over the country are already cutting services in the hope that no one notices. For example, Forbes recently pointed out that:
“The Berkeley city council is taking criticism for prioritizing pension payments ahead of public works projects.”
But this problem isn’t exclusive to California… It’s happening all over. And as city councils across the country are being forced to make tough choices about their budgets… It is forcing regular Americans to make tough choices too.
As a taxpayer, you’re already on the hook. And soon you might have to choose between living without basic services while paying more in taxes… Or uprooting from your home entirely. Just like many folks from the northeast and California are doing already. And when enough citizens move away to avoid living in near third world conditions… We could reach a point where the only recourse for these beleaguered cities is to declare bankruptcy.
Think it can’t happen here in America? It already has. Central Falls, Rhode Island…Stockton, California… Even Detroit, Michigan, which was once the wealthiest city in America as recently as 1950… All declared bankruptcy during the past decade in large part due to their pension obligations. In all, 69 U.S. cities have declared bankruptcy since January 1, 2010…
Even worse, it’s possible that even…
Your State Could Be in Danger
of Going Bankrupt
Earlier this year, Senate Majority Leader Mitch McConnell said he supports allowing states to use bankruptcy to deal with their underfunded public pensions.
So, this isn’t some crazy notion… It’s being discussed at the highest levels of Congress. And once a state declares bankruptcy, it has all of the leverage to walk away from its obligations… Directly impacting millions of people’s livelihoods.
But because Congress almost certainly lacks the political will to allow a state to go bankrupt… The more likely scenario is that the Fed will try to fix the problem by printing more money.
I’ve said numerous times that “bailouts are the name of the game.” And the next wave of big bailouts will almost certainly be pensions. But who do you think that’s going to help… pensioners? You?
Of course not.
Once again, bailing out pensions protects the “too big to fail” banks who get rich selling fake, toxic assets to the world. And when the pensions go bust, the big banks will once again be bailed out in the name of saving pensioners’ retirements… At the expense of the middle class and the poor.
Because while the Fed’s money presses run overtime to help bail out the banks that finance failed cities… or even states… It’s bound to lead to hyperinflation… like the kind we experienced in the 1970’s or during the Civil War. With this hyperinflation, we could see the prices of regular goods start rocketing higher…
Meaning the money in your pocket – and your savings – will be worth much less than it’s worth today. And these soaring prices could cause people to start hoarding supplies and goods again.
Remember how bad things got earlier this year at the beginning of the coronavirus crisis? The hoarding of basic household goods, groceries and medication… Mothers unable to find diapers for their babies… Even fist fights in grocery stores over frozen food.
Imagine what will happen if the dollar in your pocket can suddenly only buy a fraction of what it could yesterday?
It’ll make the social unrest we experienced this year look like a walk in the park. Just how bad could things get in the near future? That’s one of the questions I’m going to answer today… As I paint a very real picture of how this retirement crisis could play out. Understand, it doesn’t matter whether you’re just starting out in the workforce or you’ve already retired…
What should be abundantly clear is that…No One is Safe
To give you a more concrete example of the danger we’re in… Consider this calculation from a couple of professors who’ve examined this crisis in detail.
They claim that: “If the shortfall were [only] $5 trillion, divide that amount by the 158 million workers in the American labor force [and there would be an] obligation of about $32,000 per worker.”
But the picture gets even worse when you factor in Social Security.
From the same article: “Broaden that to the federal level, where the impending shortfall in Social Security is well-documented, and the scope of the problem grows. Instead of $32,000 per worker, it’s about $171,000.”
Look, around half of American households have no retirement savings at all… And according to a study by Fidelity, the average account balance for those that do is around $99,000.
If our individual obligation amounts to $171,000… Where does this extra money come from? That’s the point of my message to you today. Because the reality is that the working class and the middle class will bear the brunt of these obligations… They always do.
So, unless you’re sitting on a massive nest egg immune to the impact of hyperinflation… You’re going to need to find some other way to make it through the coming crisis.
Now, I realize this sounds dire… It’s OK to be concerned… worried… or even scared of what’s coming. But it doesn’t mean you should give up hope. The good news is that it’s not too late to get through this retirement crisis in good financial shape…
But only if you are prepared to act right now.
In a brief meeting, we’ll show you ways you can prepare for the impending retirement crisis…and
Escape The Trillion Dollar Retirement Time Bomb. Contact Michael Kissinger at Phone 415-678-9965 or email him at Email: firstname.lastname@example.org
Open Your Eyes To a reality that most people simply do NOT want to acknowledge. In fact, some mainstream news sources tried to spin the 2020 lockdown into something that fits their narrative… Calling it the Great Pause.
But we prefer to think of this period as a great awakening… A GIANT wake-up call for all Americans. When people finally realize the way they’ve been misled… By their teachers… their government… and even by the money that sits in your wallet.
It’s Up to You to Take Action
And the sooner you do… The sooner you can take control of your financial future from the forces working against your success.
You don’t have to be a victim… You can learn how to survive and even thrive in a financial crisis just like the rich do.
Because the rich already know how to use these forces to make more money rather than have them steal their wealth. That’s because the rich play by a different set of rules when it comes to money. The rich know how to make investments and run businesses that allow them to pay little-to-no taxes…
The rich know how to use debt and other people’s money to make investments that provide constant cash flow while paying that debt off… The rich know how to make investments that hedge against inflation and make them money while others are falling behind… And the rich know how to utilize all these forces to have a secure retirement provided by cash-flowing assets.
The good news is that there’s no better time than right now to find out how you can take advantage of these new rules of money.