We are hovering on the brink of economic disaster. The unemployment numbers are skewed, and the likelihood of a quick economic recovery is slim given our dwindling labor participation rates. 10,000 people a week are turning 65 and pensions are getting squeezed. The promises to the Baby Boomers are going to be unmet due to a shrinking labor force. Tune in for a cold, hard look at the state of things and how we have diverged so far from what our founding fathers intended for this capitalist system we live under.
In this episode:
What’s been happening in my world, a look ahead [:30]
We’re not getting the facts on unemployment data [3:00]
Examining real unemployment numbers and the actual labor force participation rate [7:30]
Real unemployment rate is double the reported rate [13:00]
Why things won’t recover with a low labor participation rate [15:00]
The Fourth Turning [21:00]
Social security was originally meant for a small amount of people and has not been adjusted for our current life expectancy [22:00]
UK pensions are going to get lower rates [23:30]
How inflation impacts us when governments overspend [27:00]
What the forefathers didn’t anticipate [34:00]
A rant on corruption [38:00]
A note on Modern Monetary Theory [43:00]
The road to totalitarianism [48:00]
If you’d like to watch on YouTube, check out our video here: