Jan 06

63 percent of Americans are one paycheck away from homelessness


If you save anything in modern America, you are an utter fool. Government policies, such as near-zero Fed interest rates, massive and growing levels of taxation and regulation, and increasing government barriers to entering most careers have hollowed out the financial strength of the American working class.

New figures show that 63 percent of Americans cannot scrape together $500 for an emergency. See here.

And, of course, Social Security and Medicare have incentivized most Americans to work less, save less, invest less, and retire earlier. See here.

Economic research indicates that Social Security alone has made America at least 2 to 4 percent poorer. See here.