We are on the cusp of a retirement crisis that will affect everyone. Far too many promises have been made and the demographics we face do not bode well for a bright future. The answer that some people tout is we should have more children or open the borders. This is based on the idea we need more workers and ignores many other factors feeding into this issue. There is simply no way “more children” or workers can ever pay enough into the system to fulfill the promises that have been made.
The competition for programs from the government to support the needs of different generations is about to explode as young and old Americans reach out for more help. Much of our problems stem from a slew of bad policies either driven by stupidity, corruption, or an unwillingness to accept the reality you can postpone a reckoning for only so long. Investors and the public at large suffer from a “recency bias of hope” that tends to blind them from unpleasant long-term realities.
The coming together of surging investment risk, an interrupted business cycle, and demographics are coming together to form the perfect storm. To clarify, much of the wealth in America is held in the hands of the baby boomers that have just or are about to retire, and over the years, many have moved into risky investment in search of yield. It has been years since we have had a major recession so sooner or later, it is logical one will arrive. Last, but not least, we are now seeing demographics play a larger role in the economy as boomers downsize (sell assets) and cut spending.
While we look upon a world of wealth, we also see a world of debt. Unfortunately, over the last few decades growing inequality has placed much of the wealth in the hands of a few and distributed the debt in places where it will come back to bite us. Below are a few ugly indicators highlighting some frightening imbalances.
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Facts Indicating Problems Ahead
- Demographics show older consumers tend to downsize (sell assets) while spending less
- The boom-bust business cycle has been largely interrupted by surging government spending
- Stock buybacks continue to set new records and drive stock markets higher
- The top one-percenters own more than 90% of America’s wealth. Specifically, the 1% collectively own $43.27 trillion, while the bottom 90% earn $40.28 trillion combined.
- Moody’s estimate of Illinois’ retirement debts, made up of pension and retiree health shortfalls at the state and local level, hits $530 billion in 2020
The example of the pension and retiree health shortfalls in Illinois is well documented. Sadly, many other states and local governments have the same problem. This is despite a massive multi-year stock market rally and huge tax hikes that went to pension funds. It is difficult to imagine how many of these pension plans can avoid default. This is already baked into the cake.
The financial giants aided by media have created the myth that everyone is making money when they invest in a retirement plan. Financial companies often forget to tell investors that when they invest in a 401 plan, the risk falls directly onto the individual owning the plan. Adding injury to insult, looking deeper into these schemes you will find outlandishly high fees buried under a slew of different names.
Often the magic of compounded returns is overwhelmed by the tyranny of compounded cost. A report by Robert Hiltonsmith claims these are a retirement savings drain. Hiltonsmith revealed a slew of pay-to-play and hidden kickbacks dwelling deep in the details of long difficult and boring documents. These tricks used to drain wealth from a customer’s account helps to explain how financial companies pay for all those commercials and slick pamphlets constantly being thrown before us.
A big problem looms for those Americans that continue to believe disaster is something that hits other people but not them. Sadly, whether you have invested in a pension plan or a 401 account, prior economic crises show there is no guaranty that you will ever see your money again or if you do, that it will have retained its buying power. The risk is not only in stocks, but also lurks in bonds. Investors in bonds face a huge risk of default if they buy junk bonds and a good possibility of getting crushed if interest rates rise.
Based on how Japan has fared over the last several decades it is difficult to see the green shoots of a global economic renaissance suddenly spring forth as the result of even lower interest rates. In fact, the next economic downturn will likely envelop the planet and may last forever and a day. This is because central bank intervention and manipulation often have negative unintended consequences. People often discount how lucky Japan has been following its economic bubble burst in 1992 to be located next to China. Because of China’s years of booming growth, Japan was able to mitigate much of the pain it was forced to endure.
The ramifications of a retirement crisis will affect everyone. When older people lose their savings or watch their wealth fall they have little time to earn more. They cut back or need help to survive. When these people sell their assets it could cause deflation but that is not a certainty. My feeling is inflation is strong enough it will only slow its rate as money flows to tangible assets and away from paper and promises. Regardless of how you view this, it is not a recipe for strong growth.
Footnote: Some of the thoughts outlined above are also voiced in the YouTube pieces below and several prior articles on AdvancingTime that focused on the generational divide and why the next downturn may be hard and long.
- Affordable Retirement Is A Glaring Issue For Many People
- Generational Conflict Is Posed To Dramatically Increase
- Next Economic Downturn May Last Forever And A Day
Most “Conservative” News Outlets Are on the Big Tech Teat
Not long ago, conservative media was not beholden to anyone. Today, most sites are stuck on the Big Tech gravy train.
I’ll keep this short. The rise of Pandemic Panic Theater, massive voter fraud, and other “taboo” topics have neutered a majority of conservative news sites. You’ll notice they are very careful about what topics they tackle. Sure, they’ll attack Critical Race Theory, Antifa, and the Biden-Harris regime, but you won’t see them going after George Soros, Bill Gates, the World Economic Forum, or the Deep State, among others.
The reason is simple. They are beholden to Big Tech, and Big Tech doesn’t allow certain topics to be discussed or they’ll cut you off. Far too many conservative news outlets rely on Google, Facebook, and Twitter for the bulk of their traffic. They depend on big checks from Google ads to keep the sites running. I don’t necessarily hold it against them. We all do what we need to do to survive. I just wish more would do like we have, which is to cut out Big Tech altogether.
We don’t get Google checks. We don’t have Facebook or Twitter buttons on our stories. We don’t have a YouTube Channel (banned), an Instagram profile (never made one), or a TikTok (no thanks, CCP). We’re not perfect, but we’re doing everything we can to not owe anything to anyone… other than our readers. We owe YOU the truth. We owe YOU the facts that others won’t reveal about topics that others won’t tackle. And we owe America, this great land that allows us to take hold of these opportunities.
Like I said, I don’t hold other conservative sites under too much scrutiny over their choices. It’s easy for people to point fingers when we’re not the ones paying their bills or supporting their families. I just wish there were more who would make the bold move. Today, only a handful of other major conservative news outlets have broken free from the Big Tech teat. Of course, we need help.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
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We are also building partnerships with great conservative sites like The Liberty Daily and The Epoch Times to advance the message as loudly as possible, and we’re always looking for others with which to partner.
Some of our content is spread across multiple sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
While donations are the best way to help, you can also support us by buying through our sponsors:
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We know we could make a lot more money if we sold out like so many “conservative” publications out there. You won’t find Google ads on our site for a reason. Yes, they’re lucrative, but I don’t like getting paid by minions of Satan (I don’t like Google very much if you couldn’t tell).
Time is short. As the world spirals towards The Great Reset, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
Thank you and God Bless,
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