Social Security Trust Fund

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

More Lies From The 'Experts': "Get Trump At All Costs"

As flyover America has been suffering economically for many years, these Americans were immune to the oligarchy’s anti-Trump propaganda. However, everyone else in the country was taken in by the propaganda - liberals, progressives, the remnant of the leftwing - and the lies continue...

It's Like Magic: Obama Calls For More "Generous" Social Security Benefits

“And not only do we need to strengthen its long-term health, it’s time we finally made Social Security more generous and increased its benefits so that today’s retirees and future generations get the dignified retirement that they’ve earned... We could start paying for it by asking the wealthiest Americans to contribute a little bit more.

Jim Grant: "Make America Solvent Again"

$13,903,107,629,266. Can the nation afford this much debt? This much we have learned about debt after 40 years of writing and study: It is better not to incur it. Once it is incurred, it is better to pay it off. America, we have a problem.

Meet The World Leader Who Stole His Citizens' Gold

Financially insolvent governments of major superpowers do not simply go gentle into that good night. They don’t suddenly turn over a new leaf and start embracing economic freedom. Instead, they get worse. More desperate. More destructive. Should we honestly believe that they can continue racking up more debt than has ever existed in the history of the world without any consequences? This is madness. As Mark Twain used to say, history may not repeat, but it certainly rhymes.

Social Security Disability Fund Will Be Broke Next Year

The 2015 annual report from the Social Security Board of Trustees shows that the program’s disability component is in immediate trouble. Data from the latest report show that the disability fund will be depleted as soon as next year and unable to pay full benefits to beneficiaries.

Chinese Air Pollution Kills 4,000 People Each Day (And Why It Will Kill Many More)

It has hardly been a secret that the unprecedented level of pollutants in the Chinese air would impair life expectancy and lead to extensive health problems, but even we were surprised to find out the quantification of China's air problem: according to one study, an average of 4,000 people a day are killed in China, as a result of the dense smog.

Who Said It?

... the long-term deficit and debt that we have accumulated is unsustainable. We can't keep on just borrowing from China, or borrowing from other countries because part of it is, we have to pay interest on that debt. And that means that we're mortgaging our children's future with more and more debt, but what's also true is that at some point they're just going to get tired of buying our debt. And when that happens, we will really have to raise interest rates to be able to borrow...

Only Yesterday - How The Federal Debt Went From $1 Trillion To $18 Trillion in 33 Years

In the great fiscal scheme of things, October 22, 1981 seems like only yesterday. That’s the day the US public debt crossed the $1 trillion mark for the first time. It had taken the nation 74,984 days to get there (205 years). What prompts this reflection is that just a few days ago the national debt breached the $18 trillion mark; and the last trillion was added in hardly 365 days.

We're Relying On Phantom Wealth To Fund Our Retirement

Phantom wealth cannot possibly fund unprecedented retirement and healthcare promises. Only real wealth can do that, and central bank liquidity and the asset bubbles it inflates are not real wealth.

How Economies Collapse: Systemic Friction And Debt Are Self-Liquidating

Paying for unproductive friction with borrowed money has generated the illusion that free to me is actually free - it isn't. We all understand how friction slows our progress: flatten the tires on a bicycle and it becomes much harder to maintain speed. If a brake pad is rubbing against one wheel, it gets even harder. If we pile on additional sources of friction, eventually forward motion stops. In systemic terms, the system freezes up and collapses. We see the same systemic friction in the U.S. economy.

The US Is Now Spending 26% Of Available Tax Revenue To Pay Interest

It doesn’t take a rocket scientist to figure out that an unsustainable debt burden soundly tolls the death knell of a nation’s economy, and its government. Unfortunately, it can sometimes take a rocket scientist to figure out what the real numbers are; governments have a vested interest in not being transparent about their debts and interest payments. Obligations are obligations, no matter who they’re owed to. Taking this into account, total US interest payments in Fiscal Year 2013 were a whopping $415 billion... This means they actually spent approximately 26% of their available tax revenue just to pay interest last year.. much higher than the 1868 Ottoman Empire at the end of its reign...