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May 16

Half of Americans are one paycheck from financial disaster

Government policies such as progressive income taxation, central banking and Social Security aggressively punish savers.

And year after year, Americans reluctantly submit by saving nothing and investing very little. Now a new Marketwatch report shows that 50 percent or more of Americans are just one paycheck away from serious financial disaster.

Roughly two-thirds of households earning less than $30,000 annually would be unable to cover basic living expenses after missing more than one paycheck.

The Federal Reserve system makes saving even a single penny an act of utter foolishness. (Interest rates are generally below 5 percent for most savings accounts.)

Consequently roughly 50% of consumers either have nothing set aside to cover an emergency or less than $500 put away. And research from the Federal Reserve has indicated that roughly 4 in 10 Americans couldn’t afford a $400 emergency.