Did you know that approximately 40 percent of all American workers have absolutely nothing saved for retirement? And did you know that pension funds in the United States are currently underfunded by about six trillion dollars? Social Security is supposed to be the underlying safety net for our entire retirement system, but it is essentially just a massive Ponzi scheme that everyone agrees is heading for a major disaster. Now that the Baby Boomers have started to retire, it is becoming clear that our society simply does not have the resources necessary to keep all of the promises that we have made to them. We are facing a retirement crisis of epic proportions, and by the end of this article you will understand the real reason why we have gotten into this mess. (Read More...)
Pension
In 2011 The Baby Boomers Start To Turn 65: 16 Statistics About The Coming Retirement Crisis That Will Drop Your Jaw
Do you hear that rumble in the distance? That is the Baby Boomers – they are getting ready to retire. On January 1st, 2011 the very first Baby Boomers turn 65. Millions upon millions of them are rushing towards retirement age and they have been promised that the rest of us are going to take care of them. Only there is a huge problem. We don’t have the money. It simply isn’t there. But the millions of Baby Boomers getting ready to retire are counting on that money to be there. This all comes at a really bad time for a federal government that is already flat broke and for a national economy that is already teetering on the brink of disaster. (Read More...)
Why Are The American People Mad? Maybe It Is Because Millions Of Their Jobs Have Been Lost To Outsourcing And They Aren’t Coming Back
As you read this, there are tens of millions of people in China, India and dozens of third world nations who would love to do your job for one-tenth the pay. They are willing to work 12 hours a day. They don’t expect a benefits plan or a pension package. They aren’t going to waste countless hours chatting on their cell phones or updating their Facebook profiles. All they want is a chance. And increasingly, the big global corporations that dominate the world economy are giving it to them. It is called outsourcing, and if you don’t believe that it can happen to your job, you might want to think again. It is not just Americans who are chasing after the American Dream these days. We now live in a global economy with a global workforce and the rules of the game have fundamentally changed. (Read More...)