The nightmare begins...Analysts say this crisis may wreck the institutions that our nation is built upon, and it will be felt by each and every one of us

8,807 views Apr 22, 2023

WATCH - It is hard to believe this is happening... "The foundations of our society are shaky. And the fact that entire generations are about to find out that they will never be able to retire comfortably is going to change our labor market, our collective mindset, and our economy, and rip apart the fabric that holds everything together in our country. A broken retirement system means that we're losing one of the most important cornerstones of the American dream. Today, over 50% of Americans have zero money saved for their retirement years, including almost 30% of older Americans that'll soon reach retirement age. Although some can blame the retirement crisis on workers' lack of savings, the reality is that for the vast majority of workers in the U.S., it is getting impossible to afford housing, to afford utilities, to afford food, cars, fuel, monthly bills, health care, and education, and still have money to put aside for the future. If you knew that all of the years that you dedicated to work wouldn't lead you to a path of home ownership, better living conditions, and retirement by the time you got old, how would that make you feel? Imagine when millions of Americans start waking up to this, too. Analysts say this crisis may wreck the institutions that our nation is built upon, and it will be felt by each and every one of us. In this video, we're going to investigate a new study that predicts that a retirement uprising is on the cards for the U.S., as both private and public retirement arrangements fall to pieces by the end of the decade.> Entire societies have risen and fallen because populations have shared a common mindset. While a common mindset of growth and prosperity led to some of the most extraordinary developments in human history, common thoughts of discontent, frustration, distrust, and rage have destroyed empires and changed the course of civilization.> In the U.S., we were taught to believe that we were all included in the American dream. We watched our grandparents' journey of building wealth through decades of hard work, which allowed them to retire comfortably and enjoy their golden years after so much dedication. We believed that if we followed the same path, we would end up in the same situation. But the truth is that we won't. And the younger generations are even farther from ever reaching that level of financial security. American workers have built this country and made our economy run every single hour of every single day. Today, they work harder than ever, but still they can't afford the rising cost of living with wages that never adjust to inflation levels. Since the 1970s, the average American has seen the value of a dollar plummet by 177 percent. And that's according to data compiled by the Minneapolis Fed. Meanwhile, the cost of living rose by 338 percent during that same span. And the average hourly wage of U.S. workers only increased by 76 percent. The jobs executed by our grandparents and great-grandparents no longer exist. Those jobs have been shipped to overseas markets, where big corporations can exploit cheap labor to hoard billionaire profits. The wealth that would be otherwise distributed throughout the American society via wages of U.S. workers employed in our domestic industries remained concentrated in the top. Find more @PeterSchiffChannel Thanks for watching!