|07-04-2019, 12:07 AM||#1|
Join Date: Oct 2018
Posts: 991Rep Power: 33
The West Is BROKE, No Savings Only Debt
Illusive Wealth: Modern Western World BROKE!
gold and unlimited printing, it’s safe to say the general population isn’t as wealthy as it was fifty years ago despite an increased number of zeroes on balance sheets! Surveys are showing that workers below the age of forty are saving much less than they should… Much of what the conventional wisdom misses out on are the ever-eroding inflationary components that eat away at purchasing power. What’s even worse is that seven out of ten millennials aren’t saving a dime!
A quarter of all Americans have zero savings at all for retirement. Some have a paycheck or two saved for the next video game or shopping trip to Nordstrom, but nothing towards deferred gratification that will grow. For those who have put aside money for their savings, the next question would be what they are saving in, especially in this everything bubble…
Fiat currencies have already lost over 90% of their purchasing power in less than a century! I hope they aren’t only looking at paper currencies that have historically all gone to zero.
If you’re depending on the government, that might be a crisis event waiting to happen. The government will not be able to assist every single person when millennials are too old to work… Here’s how the trend is looking for social security programs around the globe: A pension crisis is very real. Governments around the globe are NOT going to be able to cover the cost in decades to come.
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