We Are In the Foothills of a Recession

[JohnyMac]

I ran across this five minute video that does an outstanding job explaining where we are as a country economically as we move into Q2, 2016. In short, we are in the foothills of a recession, based on three indicators. Interesting viewing.

http://www.youtube.com/watch?v=emJ092PQwFg&feature=youtu.be

With the Federal government running a $19.5T deficit and somewhere around 40 states in deficit territory too - What silver bullet (s) will the new President and the Fed going to pull out to rein in this new recession? 

[DMCakhunter]

The feds will want to control all of the retirement plans in the nation. Take your money/pension promises and give you a promise in return.
That is the only way the current debt can be taken care of.
Just wait, confiscation is coming.

[JohnyMac]

WOW DM! I have been thinking that also however never actually said it out-loud or written it down. 

The President who does that will be loved by the Bernie folks and hated by people who took the time to save for their retirement rather than buy that new Mercedes or take that vacation to end all vacations.

 

[Nemo]

Govt has already made hints on it.  Too many people do not have enough protection on their retirement 401Ks among others.  So the Govt must take over all that and protect them on it.

Quick search gave me $24 Trillion in retirement assets in 2014.  Probably close to $25 or 26T nowadays.  National debt paid off and all is well with 3-4-5 Trillion left over for more govt spending.

And when you retire you will be permitted to withdraw it on a monthly basis, in addition so Soc Sec as they think you should.  Just to protect you from yourself also.

Nemo

http://www.benefitspro.com/2014/09/26/us-retirement-assets-rise-to-24-trillion