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.
