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Monday, December 17, 2018

The Coming Social Earthquake+My surprise prediction - who will run for president in 2020


Poor Man Survival

Self Reliance tools for independent minded people…


 

ISSN 2161-5543

A Digest of Urban Survival Resources

 

We live in an age when unnecessary things are our only necessities.
Oscar Wilde

 


Most Americans will never be able to afford to retire…The Coming Social Earthquake in America

Plus, My surprise prediction as to who will run for president in 2020

 

  Every single state government is unable to deliver on their pension as each one over promised and is broke as I’ve written repeatedly here…IL is among the worst.

 
An economic recession appears increasingly probable within the next year or two, the disparty in prospects between the 35 million future pensioners and the rest of the workforce will become increasingly obvious.

 

Off-loading Of Retirement Risk By Corporations

Once pensions had become commonplace, they were much less effective as an incentive to lure top talent. They started to feel like burdensome cost centers to companies.
As America's corporations grew and their veteran employees started hitting retirement age, the amount of funding required to meet current and future pension funding obligations became huge. And it kept growing. Remember, the Baby Boomer generation, the largest ever by far in US history, was just entering the workforce by the 1960s.
Companies were eager to get this expanding liability off of their backs. And the more poorly-capitalized firms started defaulting on their pensions, stiffing those who had loyally worked for them.
So, it's little surprise that the 1970s and '80s saw the introduction of personal retirement savings plans. The Individual Retirement Arrangement (IRA) was formed by the Employee Retirement Income Security Act (ERISA) in 1974. And the first 401k plan was created in 1980.

These savings vehicles are defined contribution plans. The future payout of the plan is variable (i.e., unknown today), and will be largely a function of how much of their income the worker directs into the fund over their career, as well as the market return on the fund's investments.

Touted as a revolutionary improvement for the worker, these plans promised to give the individual power over his/her own financial destiny. No longer would it be dictated by their employer.

Your company doesn't offer a pension? No worries: open an IRA and create your own personal pension fund.

Afraid your employer might mismanage your pension fund? A 401k removes that risk. You decide how your retirement money is invested.

Want to retire sooner? Just increase the percent of your annual income contributions.

All this sounded pretty good to workers. But it sounded GREAT to their employers.

Why? Because it transferred the burden of retirement funding away from the company and onto its employees. It allowed for the removal of a massive and fast-growing liability off of the corporate balance sheet, and materially improved the outlook for future earnings and cash flow.

As you would expect given this, corporate America moved swiftly over the next several decades to cap pension participation and transition to defined contribution plans.

America The Broke


Well, things haven't worked out too well.

Four decades later, what we're realizing is that this shift from dedicated-contribution pension plans to voluntary private savings was a grand experiment with no assurances. Corporations definitely benefited, as they could redeploy capital to expansion or bottom line profits. But employees? The data certainly seems to show that the experiment did not take human nature into account enough – specifically, the fact that just because people have the option to save money for later use doesn't mean that they actually will.

While the total number of people expecting a pension isn't tiny, it's certainly a minority of today's workers.

31 million private-sector, state and local government workers in the US participate in a pension plan. 3.3 million currently-employed civilian Federal workers will receive a pension; as will some percentage of the 2 million people serving in the active military and reserves.

Combined, that's about 25% of current US workers; roughly 13% of total US adults.

 A return to economic recession appears increasingly probable within the next year or two, the disparity in prospects between these 35 million future pensioners and the rest of the workforce will become increasingly obvious.

The danger here is of festering social discord. The majority, whom we already know will not be able to retire, will highly likely start regarding pensioners with envy and resentment.

"Hey, I worked as hard as Joe during my career. How come he gets to retire and I don't?" will be a common narrative running in the minds of those jealous of their neighbors.

This bitterness will only increase as taxes continue to rise to fund government pension payouts, already a huge drain on public budget

 

It's not a stretch at all to predict the divisive tension and prejudice that will result from the growing gap between the pension haves and have-nots.

 
Any projected decreases in Social Security (benefit payouts will only be 79 cents on the dollar by 2035 at our current trajectory) will only exacerbate the ire, as the small governmental income the have-nots receive becomes even more meager.

The growing potential here is for an emerging social schism, possibly accompanied with intimidation and violence, not dissimilar to that which has occurred along racial or religious lines during darker eras of our history.

As people become stressed, they react emotionally, and look for a culprit to blame. And as they become more desperate, as many elderly workers with no savings often do, they'll resort to more desperate measures.

Broken Promises


And it's not all sunshine and roses for the pensioners, either. Being promised a pension and actually receiving one are two very different things.

Underfunded pension liabilities are a massive ticking time bomb, certain to explode over the next few decades.

For example, many pensions offered through multi-employer plans are bad shape. The multiemployer branch of the Pension Benefit Guaranty Corporation, the federally-instated insurer behind private pensions, will be out of business by 2025 if no changes in law are made to help. If that happens, retirees in those plans will get only 10% of what they were promised.

Moreover, research conducted by the Pew Charitable Trusts shows a $1.4 trillion shortfall between state pension assets and guarantees to employees. There are only two ways a gap that big gets addressed: massive tax hikes or massive benefit cuts. The likeliest outcome will be a combination of both.

So, many of those today counting on a pension tomorrow may find themselves in a similar boat to their pension-less neighbors.


No Easy Systemic Solutions, So Act For Yourself


There's no "fix" to the retirement predicament of the American workforce. There's no policy change that can be made at this late date to reverse the decades of over-spending, over-indebtedness, and lack of saving.

All we can do at this time is influence how we take our licks. Do we simply leave the masses of unprepared workers to their sad fate? Or do we share the pain across the entire populace by funding new social support programs via more taxes?

Time will tell. But what we can bet on is tougher times ahead, especially for those with poor income prospects.

So the smart strategy for the prudent investor is to prioritize building a portfolio of income streams in order to have sufficient dependable income for a sustainable retirement. Or,  for simply remaining afloat financially.

Sadly, accustomed to the speculative approach marketed to us for so long by the financial industry, most investors are woefully under-educated in how to build a diversified portfolio of passive income streams (inflation-adjusting and tax-deferred whenever possible) over time.

And in the interim, make sure the wealth you have accumulated doesn't disappear. 

During the Great Depression when Democracy and capitalism seemed on the verge of failing the average family, America saw a huge growth of Communism and Socialism among its people…the same is happening again.

Source:  Peak Prosperity

Final thoughts:  Political Earthquake Coming-Guess Who Will Run for President?

 



The imbalances are extreme and obscene... Also the GOP must get its act together in regard to women if it expects to succeed [more in leadership roles for instance]

This is why I think the GOP lost so much in the past mid-term elections.  The Dems/Socialists are tapping into a growing unrest in America between the haves and the have-nots.  There is a coming political earthquake for this nation.

Social unrest that will erupt more and more frequently here and around the world if the economic and political elites continue to behave as they have. Wealth and power have been stripped from the public and been concentrated into the hands of fewer and fewer people.

In a Pew Research Center study of Americans age 22-37, 57% called themselves “mostly” or “consistently” liberal. In a Gallup poll of Americans age 18-29, 51% had a positive view of socialism. And in a University of Chicago survey of Americans age 18-34, 44% said they would prefer to live in a socialist country.

Kids today, few of which ever had to fend for themselves or had that opportunity removed from them by the Nanny State, are drawn to socialism…they’re broke, they can’t afford today’s high cost homes and autos, they’re tired of living in basements, they want to make the world a nicer place – with your money!

Earlier this year…

In the Democratic primary election for New York’s 14th district earlier this year, democratic socialist Alexandria Ocasio-Cortez trounced incumbent Representative Joseph Crowley, the fourth-ranking Democrat in the House. Clearly overconfident, Crowley barely even campaigned. Since then, Ocasio-Cortez has become a media darling, appearing alongside Vermont Senator Bernie Sanders, a self-described socialist who narrowly lost the Democratic presidential nomination in 2016. While much of the energy among Democrats is on the far left, the party has made a point of selecting candidates with a real chance of winning in November.

A revolution is probably coming and the younger generation will likely lead it.  That revolution will see several things which I predict including:

·         A quadrupling of our income tax

·         A national sales tax

·         A single payer health system

·         A $15 minimum wage for everyone across the board nationally

·         A forgiveness of all student debt combined with some kind of free tuition for college

·         More rights will be eroded such as free speech, gun rights & even the ability to carry cash over certain amounts [it is already limited at airports & border checkpoints].

All of this will be in response to the vast growing inequality income gap in this country which has seen huge declines in our middle class during the past generation or two.  Many blame the GOP and old line Democrats for maintaining this status quo.

The middle class has been steadily shrinking, but most Americans still believe that they are a part of it.  Perhaps this is due at least in part to the egalitarian values which have been pounded into our heads for most of our lives.  Very few Americans would have the gall to define themselves as “upper class”, and I have never met anyone that would describe themselves as “lower class”.  In place of “lower class”, many politicians now like to use the much more politically correct term “working class”, but a more apt description might be “the working poor”.  Today, half of all American workers make less than $30,533 a year, and you certainly cannot support a middle class lifestyle for a family with children on that kind of income.

Our incomes have stagnated as the cost of living has soared, and the middle class has experienced steady erosion as a result.  But despite all that, 68 percent of all Americans still consider themselves Middle Class …

In reality, the middle class now makes up just over 50 percent of the total U.S. population, according to a recent report from Pew Research Center, which used 2016 data. That’s compared to 61 percent in 1971.

CitiBank research indicates Americans are once again at record credit card debt levels not seen since 2009 and more people are being denied loans and new credit card applications…they’re even at record levels of upside down rates in auto loans.

 
Here’s my big prediction for the next electionMichele Obama will run for president!  Her current book tour has been in reality,  a trial run.  It has been overwhelming successful.  The media and the public gushes over her every move.  With the backing and blessing of Oprah [which she’ll undoubtedly get] her odds of winning against any opponent are outstanding.


Yours for a brighter season,
Bruce ‘the Poor Man!’


Final Notes…

Contributors and subscribers enable the Poor Man Survivor to post 150+ free essays annually. It is for this reason they are Heroes and Heroines of New Media. Without your financial support, the free content would disappear for the simple reason that I cannot keep body and soul together on my meager book sales & ecommerce alone.


14 Frugal Food-Rescuing Tips from Grandma 
These timeless ideas still have value today.

4 Reasons to Stop Saving for Retirement 
Are there really times when you shouldn't be saving for retirement?


Recession Warning Signs to Look Out For and Tips to Protect Yourself 
Smart financial practices will serve you well no matter what the economy does.


How to Prepare for a Natural Disaster…

 


 

 

 

·         Special Offer for our Readers

 
 72-hour Emergency Meal kit that's being offered contains 16 total servings of such delicious meals as Blue Ribbon Creamy Chicken Rice, the always-loved Granny's Homestyle Potato Soup and the stick-to-your-ribs breakfast favorite Maple Grove Oatmeal.

This kit normally sells for $27, plus shipping and handling and is rated 4½ out of five stars by customers.

While supplies last, these kits are available for only $21.95 and that includes Priority Shipping [we were forced to increase prices due to another round of USPS price hikes]. Go here for this deal:


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Additional Resources
 

Your Free Middle Class Survival Kit

SAVE & MAKE Money

Researched by our editors and include 100s of tips, tricks and insider methods of saving money, earning extra money [many from the comfort of your home], the best places to live,  How to find little-known freebies, discounts and other benefits-over 2,000 programs!


 

or…


 


How to Survive the War on the Middle Class

14 of the best reports I’ve assembled on protecting your freedom-Download link.


 




 


 

A Smoking Frog Feature, Shallow Planet Production

Friday, December 14, 2018

Are Democrats Drooling to Have Pence Become President?


Poor Man Survival

Self Reliance tools for independent minded people…


 

ISSN 2161-5543

A Digest of Urban Survival Resources

Are Democrats Drooling to Have Pence Become President?
 
 

   The month Trump took office I wrote a prediction that the Deep State would do everything within its power to get rid of Trump no later than his third year in office.  Perhaps the demented Democrats are finally realizing their hopes…

There never was any “collusion with Russia”, but the Mueller investigation opened the door for investigators to keep turning over rocks, and it was inevitable that they were eventually going to find something.  In America today, we are governed by literally millions of laws, rules and regulations, and nobody has more laws that they must follow than the president of the United States.  So if the Deep State really wants to get the resident of the White House, there are lots of ways that they can do it.  Over the past several days, there have been a couple of new legal developments that potentially represent great threats to the Trump presidency, and Democrats are drooling with delight.

The first development involves a potential violation of campaign finance laws.  In August, lawyer Michael Cohen pleaded guilty to arranging payments to two women “at the direction” of Donald Trump.  A $130,000 payment was made through a shell company to Stormy Daniels, and it was arranged that a $150,000 payment would be made to former Playboy model Karen McDougal through American Media Inc., which is the parent company of the National Enquirer.  It was ruled that these payments were made “for the principal purpose of influencing” the election, and it is one of the reasons why Michael Cohen is going to prison for three years.

 

The number of celebrities, MSM moguls, anchors and other hangers-on who have porked multiple partners and paid them off is incalculable. The media love them regardless, unless they're named Bill Cosby, Kevin Spacey and Matt Lauer, Bill Clinton [who might hold the record dating back to when he was governor]… and Donald Trump. 

 


Horndog Bill Clinton got a pass for everything from using a cigar on and getting blow jobs from a plump young intern in the oval office to cornering and groping Kathleen Willey to raping Juanita Broaddrick. He paid Paula Jones $850,000 in "hush money." (And yes, lefties, his impeachment trial was a pass. The fix was in the Senate before the House even started its proceedings. It was all theater.) 

 
I still recall reading an interview with two Arkansas State Troopers who carted around women to hotel rooms at the behest of Clinton for sexual trysts while he was governor of that fine state on the taxpayer dime.

 I am quite skeptical that these hush money payments constitute “campaign expenses” which must be reported, but this is the interpretation that is being pushed by the Deep State, and it is being widely accepted by the mainstream media and by members of both political parties.

In August 2015, there was a meeting between Michael Cohen, American Media Inc. CEO David Pecker and “at least one other member of the campaign” during which a plan to “catch and kill” negative stories about Trump was discussed.  According to NBC News, it has been confirmed that the “other member” in the room was Trump himself…

As part of a non-prosecution agreement disclosed Wednesday by federal prosecutors, American Media Inc., the Enquirer’s parent company, admitted that “Pecker offered to help deal with negative stories about that presidential candidate’s relationships with women by, among other things, assisting the campaign in identifying such stories so they could be purchased and their publication avoided.”

The “statement of admitted facts” says that AMI admitted making a $150,000 payment “in concert with the campaign,” and says that Pecker, Cohenand “at least one other member of the campaign” were in the meeting. According to a person familiar with the matter, the “other member” was Trump.

With Cohen and Pecker now both cooperating with federal investigators, Trump could potentially be in a huge amount of trouble, and the left is loving it.

As a former assistant U.S. attorney explained to NBC News, it would essentially be a slam dunk to prove “a conspiracy to commit campaign finance fraud”…

Daniel Goldman, an NBC News analyst and former assistant U.S. attorney said the agreement doesn’t detail what Trump said and did in the meeting. “But if Trump is now in the room, as early as August of 2015 and in combination with the recording where Trump clearly knows what Cohen is talking about with regarding to David Pecker, you now squarely place Trump in the middle of a conspiracy to commit campaign finance fraud.”

But once again, that is only true if the hush money payments actually constituted “campaign expenses”, and it is my opinion that they do not.

Meanwhile, federal authorities have also opened up a new investigation into potential corruption by President Trump’s inauguration committee.  The following comes from USA Today

The investigation is being led by federal prosecutors in Manhattan and is examining whether donors gave money in return for access to Donald Trump and his administration, the Wall Street Journal and CNN reported.

The Journal, citing unnamed officials, reports the probe is in its early stages but aims to determine whether some of the donors to Trump’s $107 million inauguration fund attempted to gain influence within the administration on policy decisions, something that could violate federal corruption laws.

This new investigation never would have occurred if federal authorities had not already been investigating Michael Cohen.

Reportedly, they came across some potentially incriminating information when they raided his home, office and hotel room in April

During the April raids on Cohen’s home, office, and hotel room, federal investigators discovered a taped conversation between Cohen and Stephanie Winston Wolkoff, who worked with the inaugural committee, the WSJ reported.

The contents of the recording are unclear but Wolkoff, according to the Journal, voiced concerns over how some of the inaugural funds were being spent.

During the Nixon administration, the Department of Justice ruled that a sitting president could not be indicted, but now there are quite a few Democrats that are calling for that ruling to be “reevaluated”.  One of those Democrats is scumdog Representative Adam Schiff

‘I think the Justice Department needs to re-examine that OLC opinion, the Office of Legal Counsel opinion, that you cannot indict a sitting president under circumstances in which the failure to do so may mean that person escapes justice,’ Schiff told CNN on Wednesday, hours after Donald Trump’s longtime lawyer Michael Cohen pleaded guilty to breaking campaign finance laws and other matters.

In the short-term, it is probably unlikely that Trump will be indicted, and so if Democrats want to get rid of him they will need to go down the road of impeachment.  Democrats have no regard for what is best for the nation as their hatred for Trump has blinded them to what is best for the nation and all other work that should be done has gone by the wayside.

If they accomplish their goal however, what will they achieve?  Pence will become the president and he could become the worst nightmare for Democrats.

Now that Nancy Pelosi and the Democrats have taken control of the House, they could probably pull off a vote to impeach Trump and waste more of the peoples time-but what else is new.  After all, that is what they do best.  But the tricky part would be the Senate, because the Republicans still have a majority there.

I hope that the Democrats do not decide to pursue impeachment, because that would only create even more division in a country that is already greatly divided…I know it could conceivable create a lot of violence.

 

Yours for a brighter season,

Bruce ‘the Poor Man!’

 

Final Notes…

 

Contributors and subscribers enable the Poor Man Survivor to post 150+ free essays annually. It is for this reason they are Heroes and Heroines of New Media. Without your financial support, the free content would disappear for the simple reason that I cannot keep body and soul together on my meager book sales & ecommerce alone.


14 Frugal Food-Rescuing Tips from Grandma 
These timeless ideas still have value today.

 

How to Prepare for a Natural Disaster…


 

·         Special Offer for our Readers

 72-hour Emergency Meal kit that's being offered contains 16 total servings of such delicious meals as Blue Ribbon Creamy Chicken Rice, the always-loved Granny's Homestyle Potato Soup and the stick-to-your-ribs breakfast favorite Maple Grove Oatmeal.

This kit normally sells for $27, plus shipping and handling and is rated 4½ out of five stars by customers.

While supplies last, these kits are available for only $21.95 and that includes Priority Shipping [we were forced to increase prices due to another round of USPS price hikes]. Go here for this deal:


Support our efforts by shopping my storefront…


 

 

Additional Resources

Your Free Middle Class Survival Kit

SAVE & MAKE Money

Researched by our editors and include 100s of tips, tricks and insider methods of saving money, earning extra money [many from the comfort of your home], the best places to live,  How to find little-known freebies, discounts and other benefits-over 2,000 programs!


 

or…


 

How to Survive the War on the Middle Class

14 of the best reports I’ve assembled on protecting your freedom-Download link.


 

 



 


 

A Smoking Frog Feature, Shallow Planet Production