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Peter Schiff: Retirement Will One Day Soon Be As Rare As Single Income Households - FBN 2/4/2013

Peter Schiff: Retirement Will One Day Soon Be As Rare As Single Income Households

Money w/ Melissa Francis | Fox Business | February 4, 2013


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I can not stand this type of "NEWS"

These 5 minute segments with 3-6 guests all trying to debate and everyone gets 30 seconds to make a point on an incredibly complex issue drives me nuts! You don't learn a thing from this!!!!! Why waste your time being on these panels?

The reporter

doing the interview is a perfect example of why our country is in shambles.

She refuses to admit the truth and respond in a responsible adult way.

The solution takes time to explain and understand and she is not willing to hear it. She wants a quick Disneyland fix it solution and that's what the federal government gives.

"Once you become knowledgeable, you have an obligation to do something about it."- Ron Paul

These women give women a bad name.

Clearly they want to run from the truth like it is going to help them and give them a ratings boost. "OMG ur like... depressing me! Ur like... such a debbie downer"

These dumb broads REALLY need to be given pink slips. If you are going to pad your show with boobs, make sure they come with at least a pair of brain hemispheres.

It was like watching a news

It was like watching a news cast from Idiocracy...

NOTE: I am not advocating violence in any way. The content of the post is for intellectual, theoretical, and philosophical discussion. FEDS, please don't come to my house.

Gonna go out on a limb here

and predict that those starting employment in the next 5 years will be able to retire around age 30. Not all of them but a growing amount. Over the following decade or two, the rest will adopt this trend.

How? Because people WILL have gotten rid of all the robbery the banks impose on every single sector of society. As a result, true power will return to those with productive means. Not sure how or when but it's almost a certainty somehow. People are waking up daily and the collective intelligence online is growing exponentially-squared. All it will take is that one person who knows how to get the right message to go viral and it will happen.

Shutting down this robbery will leave people wondering why we ever had bankers or any other 'money' related jobs at all. Can't wait to celebrate the day the stock market gets shut down by the crowd-funders.

Over the coming decades, retirement will be the least of

our worries. Just surviving will be an issue for most people.

It is because of the low hanging fruit principle. We have picked all the low hanging resources, and what is left is costly and difficult to acquire. We use up more and more energy each year to get back what we did the prior year, leaving less and less energy to fuel the industrial age. This means that on average, the economy will contract every year for the rest of your life. Compound growth in resource acquisition cost is a real b*tch.

The Federal Reserve scam determines who gets the output of the economy, and it makes sure that the money issuers (Commercial banks) get a big portion which some estimate is now 30% to 40% of yearly wealth creation. Higher taxes gives the government a bigger share as they want you, not themselves and their friends, to bear the pain of economic contraction. Look at where prices are advancing fastest compared to income; luxuries, higher education, advanced medical care. This is because resources, particularly energy resources, are no longer sufficient to support the industrial age as we know it, much less to drive and expanding economy.

This is why we are headed for major civil violence (revolution or civil war). As the pain and suffering intensifies and government continues to plunder and control in favor of themselves and the powerful interests who control them, the majority will react in a most unpleasant manner. The thin veneer of civilization will peel away under the pressure of survival. This will be a bad period in human history, and is not some far off future event. Each day that passes brings us closer to the trigger event. Why do you think the federal government is so interested in disarming the public while simultaneously arming themselves to deal with domestic breakdown? Why do you think the public has been weaponizing itself?

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

i kinda laughed the whole time

These 2 women clearly disagree with Peter and probably don't even like him on any level, but they have to put up with him because they need the ratings bump he brings. Their reactions of course are expected. lol

Peter's talking points are pretty much the same every time too, and I am sure the Fox lady has heard it more then once as well. I thought it was overall comical and entertaining. Not sure why there are some offended people.

Someone please tell me how

Someone please tell me how those two bimbos are more qualified to talk about the economy than Peter."Hey girlfriend, let's snicker and laugh at this guy and everyone will think we're the smart ones, hehe!". Time for the grown-ups to talk sweetheart, go on back to your highschool economics class and learn a thing or twelve.

If ignorance is bliss, Washington DC must be heaven.

I guess I am still perplexed

about some things, because you've got me on that one!

Localism is for people who can still sleep at night even though somebody they don't know in a city they have never been is doing things differently. ("Localism, A Philosophy of Government" on Amazon for Kindle or Barnes and Noble ebook websites)

So what are you

perplexed or nolongerperplexed?

Depends on the question!

I only know the answers to the big questions. The little ones are hard for me.

Localism is for people who can still sleep at night even though somebody they don't know in a city they have never been is doing things differently. ("Localism, A Philosophy of Government" on Amazon for Kindle or Barnes and Noble ebook websites)

Just a coupla NILFs

Samantha Bee from the Daily Show...


"One resists the invasion of armies; one does not resist the invasion of ideas" Victor Hugo

The lady from the Treasury

Is Definately drinkin the fruit punch...


I look at the lady in pink. whuuuuuuuuuuuu.... #facepalm

Come on, You'd let your mother starve and die?

I don't believe you, LibertyBaby.

the giggling, jokes about sedating one's self...

...I see right through that agenda; "go back to watching the Golf Channel, gang; nothing to see here...just more fear-mongering about a crashing dollar by the Ron Paultards favorite economist"...

That was actually offensive....the mockery of bad news, also known as reality.

"The mockery of bad news"

"Also known as reality." Perfect.

"Its easier to fool people than to convince them that they have been fooled."
Mark Twain

Cyril's picture

Am I alone to find something wrong with the women in this video?

Am I alone to find something wrong with the women in this video?

(Especially the one in green.)

What the hell do they find so funny about the situation for these smiles and near giggling?!

Also, can they interview people without interrupting them as they articulate a point?!

THAT's not funny, ladies... that's FREAKING outrageous. Get a clue. Plus, you don't have to get at 60+ to start worry. I DO worry in my early 40s, mind you!

I take it these girls don't have kids(???)

"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

No Wonder Anti-Depressants Are in High Demand

Bimbos need them to cope with financial reality.
Buy pharmaceutical stocks.

Cyril's picture

May I share something with you, dear Americans?

Just a little tip, by anticipation on possible future "proposals" coming to you - you're welcome:

Decades ago, the French have allowed their government to "manage" their retirement funds - it's a bit more involved, but there are basically three classes of those: one for the private sector, another for the self employed, and a third for the public servants.

And guess what?

It is now an unearthed past "secret" that the system is essentially broke - today's young working class not even sufficient to fund their parents' retirement... Much like the vast majority of govt managed funds, btw - but that's, say, "accessory" to the point.

Do not trust me: just do your homework, look it up, if you're curious enough.

So much for collectivism and the welfare state.

Game over. Same player, shoot again.

Now try to bring me a wanna be socialist with convictions to MY FACE.


We will have so much fun...

Ah well.


"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius




I don't know why you conclude some of your comments with "bear," but I always find it funny. Maybe it means "take that and stuff it into your pipe!" Sounds tough, Lysiandad. Sounds cool. Bare on, Bear. Grrrr. Raaarr.

Lion <----Just staying with the theme.

School's fine. Just don't let it get in the way of thinking. -Me

Study nature, not books. -Walton F. Dutton

Cyril's picture

On "bear". Why "bear"?

On "bear". Why "bear"?

It's because that's what we do, when responsible and self reliant.

We bear. Our own mistakes and... most often, others'.

"Bear." ;)

"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I second that. Bear. Big.

I second that.

Bear. Big.

School's fine. Just don't let it get in the way of thinking. -Me

Study nature, not books. -Walton F. Dutton

wow, I'm 50 and that's depressing

to contemplate!

RP R3VOLution

Oh to Be 50 Again!

Yes. It will be a stiff undertaking because my retirement plan at this stage of the game is to work myself to death. Problem is I'm out of work, which is a tough enough job because I'm 60.

Ed Rombach

Well Yeah....

Indeed, Retirement will be as rare as single-income households if Peter Schiff and Wall Street get their wish, and get rid of Social Security.

Austerity is not the answer. And Austerity is also not the way of Ron Paul (remember him?).

Cutting the tyranny of Global Warfare, and Corporate Welfare (including Wall Street and Central Banks) are the things here that need to be removed (and are the things which Ron Paul focuses on).

Cut the Trillions of dollars going to the FAT CATS.

Nobody ever talks about that do they? Except for Ron Paul.

Leave the poor people the few (necessary) bread crumbs that they're given. (My Mom and millions of others would face starvation and die without Social Security).

Austerity? How about justice.

Are you saying that you wouldn't look after your mother? Apparently she'd "face starvation and die without social security".

People need to face up to the truth: their old age isn't the burden of the commonwealth, it is their own problem, and that of their family.

It is unjust to steal from others, and burden them forcibly with the cost of your existence. This remains the same, whether you are a street criminal, government employee, or social security recipient. All of these classes are in receipt of stolen money.

Let me put it this way LibertyBaby; you look after your mother, and I'll look after mine.


1. My mother paid into Social Security all her life, and so did my Dad. She has earned the return.

2. Children cannot possibly take care of their parents nowadays, when the cost of living is so damn high that they are up to their eyeballs in debt right from the age of College onward. Housing is totally unaffordable in most regions of the Country (especially where the jobs are), College is totally unaffordable, and Health Care is unaffordable. The Children of parents today cannot even properly take care of their own children, much less take care of their parents as well. This has become financially impossible.

3. I also have paid into Social Security all my damn life. Wall Street freaks like you have no right to confiscate it and deny me the benefit that I have paid for and earned all my life.

4. There is no more savings in this Country anymore. You can't put your money in the Wall Street casino without risking that you will lose it all. There is no Bank Savings anymore. The thought of people surviving without Social Security is a fictional fantasy for most people. This is laughable nonsense. It is insufficient as it is.

The only thing that getting rid of Social Security will do is create an epidemic of MASS POVERTY in this Country. And the Wall-Street scum actually want to see that happen.

1. Your mother, nor your

1. Your mother, nor your father, have earned anything. They have been swindled, and robbed by the government. Do you propose that the fraud continue; that others are swindled so your parents can be cut their share of the loot?

2. Children will have to look after their parents; there is no other way. The government has no money, and the money the fed prints is losing value fast. Yes, I am talking about hard times, but hard times are now unavoidable. PS: Using the term "money" very loosely here.

3. I am not going to confiscate your money, because your money doesn't exist. Get this through your head; social security is bankrupt, your money is GONE, and has been gone for a long, long time. What you propose is to confiscate MY money.

4. The problem of no one having savings is largely a matter of what they are saving. Fiat dollars don't hold their value, and so people have to spend more of them to buy what they bought the year before.

The problems we will face in the future are twofold: On one side we will have those who have paid into social security and refuse to accept their losses, and on the other side we will have their children, disgruntled at the idea that they have to look after their parents. Both sides will have to swallow the bitter pill, and come to accept their predicament.

Let me make this clear to you, LibertyBaby; you'd better sing the praises of he who cares for his parents in their old age. You will require your own children to look after you.


Social Security is not bankrupt. It is solvent until about 2035. And they can easily, easily make it fully solvant by just lifting the 110,000 cap.

But you totally do not understand American society. Just because you are doing well, does not mean that most Americans are. The costs on Americans today is staggering, and personal debt has never been higher because people cannot make ends meet.

We do not have to attack the poor, and the working-class. This is a false choice, and it is not the answer. We can cut Trillions of Dollars from Warfare and Corporate Welfare, and that is where the focus needs to be. This is also the place where Ron Paul focuses.

And yes, people like me have paid into Social Security and it is indeed an earned benefit.

It's the corrupt Wall Street Elites that want Social Security to go away, so why are you on their side?. If you any integrity, you be attacking the Wall Street rape of our wealth, and the corrupt War Establishment, and not be attacking poor people.