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One of the darkest risks facing America is that so few of us are prepared for retirement.It's shocking, really. According to ConvergEx Group, "Only 58% of us are even saving for retirement in the first place. Of that group, 60% have less than $25,000 put away ... a full 30% have less than $1,000." According to Nielsen Claritas, Americans age 55 to 64 have a median net worth of $180,000 -- less than they'll likely need for health care spending alone during retirement.I recently asked Joseph Dear, chief investment officer of CalPERS, one of the world's largest pension funds, whether...

Nigel Farage, well known for his anti-centralized government diatribes in which he has repeatedly targeted European leadership and finance ministers for the destruction of the Eurozone economy, warns yet again that the consequences for the actions of elite politicians and bankers will soon pour into the streets. You won’t see straight forward candidness like this from mainstream politicians, because most are terrified of speaking the truth and accepting blame. They know it’s coming and the fallout won’t be limited to just Europe. My fear is that, in the end, what will break up the Euro isn’t the economics of it....

The next Great Depression is already happening - it just hasn't reached the United States yet. Things in Europe just continue to get worse and worse, and yet most people in the United States still don't get it. All the time I have people ask me when the "economic collapse" is going to happen. Well, for ages I have been warning that the next major wave of the ongoing economic collapse would begin in Europe, and that is exactly what is happening. In fact, both Greece and Spain already have levels of unemployment that are greater than anything the U.S....

The Crisis Is Imminent: “When The Real Crash Comes It Will Be Worse Than the Great Depression” “The United States is like the Titanic, and I’m here with the lifeboat trying to get people to leave the ship… I see a real financial crisis coming for the United States.” Peter Schiff August 2006 In 2006, when he faced off with many well known Titans of investing and warned of an impending financial disaster and economic collapse, Peter Schiff was laughed at by his colleagues. He urged Americans to exit financial markets and take steps to protect themselves before the wealth...

Yesterday, my colleague, Marty Biancuzzo, explained why America is on a path to inevitable economic and government collapse. After reading Marty’s piece, another colleague asked me: What will America look like after a government collapse? It’s an important question, and I want to give a satisfactory answer. But I can’t do that in one short column, so I plan to return to this topic several times over the next few weeks. I hope that when I’m done, you will have a better understanding of where the country is headed. Now, consider our current situation… It’s clear that Barack Obama and...

The Economic Depression Is Deepening Economics / Great Depression IIApril 23, 2013 - 05:47 PM GMT By: Bill Bonner Gold seemed to be stabilizing at the end of last week. Commodities remained weak. Steel has fallen 31% this year. Brent crude is off 17% since early February. And copper is down 15%. Copper is the metal you need to make almost anything – houses, cars, electronics. When it goes down, it generally means the world economy is getting soft.At the start of last week, the conventional analysis of the gold sell-off was that the central banks' efforts to revive global...

Gold seemed to be stabilizing at the end of last week. Commodities remained weak. Steel has fallen 31% this year. Brent crude is off 17% since early February. And copper is down 15%. Copper is the metal you need to make almost anything - houses, cars, electronics. When it goes down, it generally means the world economy is getting soft. At the start of last week, the conventional analysis of the gold sell-off was that the central banks' efforts to revive global growth were working. The feds had the situation under control. So who needed gold? By the end of...

Terrorism. Chaos. Fear of the future. In the age of Obama, America is undergoing a “fundamental transformation” – that much everyone knows. But what few seem to realize about this transformation is that the sheer stress of living in today’s America is driving tens of millions to the point of illness, depression and self-destruction. Consider the following trends: Suicide has surpassed car crashes as the leading cause of injury death for Americans. Even more disturbing, in the world’s greatest military, more U.S. soldiers died last year by suicide than in combat; Fully one-third of the nation’s employees suffer chronic debilitating...

History Tells Us That A Gold Crash + An Oil Crash = Guaranteed Recession By Michael Snyder April 17th, 2013 Is the United States about to experience another major economic downturn? Unfortunately, the pattern that is emerging right now is exactly the kind of pattern that you would expect to see just before a major stock market crash and a deep recession. History tells us that when the price of gold crashes, a recession almost always follows. History also tells us that when the price of oil crashes, a recession almost always follows. When both of those things happen, a...

Twitter Google+ LinkedIn Email Comments More . Susan Stewart collects fresh human placentas, takes them home and steams them with lemon, ginger and cayenne pepper. Once cooked, she puts the organs in a dehydrator overnight then grinds them and measures the powder out into gel capsules. The service – the Calgary single mother makes a living at this – costs about $200. Within a day, she presents new moms with their placentas in pill form – an average human placenta yields about 150 capsules – with promises of renewed energy, better lactation and no post-partum depression. They keep indefinitely. Placenta-eating...

Mental health advocates yesterday blasted a McDonald’s ad on the MBTA that appears at first to be a public service announcement targeting people suffering from depression. “It’s really too bad because it trivializes the whole issue of depression,” said Julie Totten, executive director of Waltham-based Families for Depression Awareness, which has been running an ad of its own on the T for its Strides Against Stigma Walk on April 27 at Boston University. “We’re trying to say when you need help, it’s not a laughing matter. We don’t want people to feel stigmatized or made fun of.”

Remember all those who denied that firearms confiscation as a result of New York’s new gun laws was too “insane” to even consider? That it was strictly in the realm of paranoid conspiracy theorists and the “it cant happen here crowd”? Those were and remain some of the standard replies to anyone who even thought about the possibility, let alone gave voice to it, despite the fact that Gov Cuomo and numerous other officials made public comments about such a plan, as I discussed in my article “Feinstein & Cuomo Admit Planning Australian Style Government Gun Buy Back” . Elected...

Drugs made from magic mushrooms could help treat people with severe depression, a new study suggests. Scientists believe that the chemical psilocybin, the psychedelic ingredient in magic mushrooms, can turn down parts of the brain that are overactive in severely depressive patients, the Guardian reported. The drug appears to stop patients dwelling on themselves and their own perceived inadequacies. However, a bid by British scientists to carry out trials of psilocybin on patients in order to assess its full medical potential has been blocked by red tape relating to Britain’s strict drugs laws. Professor David Nutt, professor of neuropsychopharmacology at...

Edward C. Prescott, the 2004 Nobel Laureate in economics, says the U.S. economy is “slowly becoming more depressed” and that the spending being pursued by politicians in Washington will “create more poverty.”

Let It Bleed?J. Bradford DeLongMarch 29-2013 BERKELEY – In the 12 years of the Great Depression – between the stock-market crash of 1929 and America’s mobilization for World War II – production in the United States averaged roughly 15% below the pre-depression trend, implying a total output shortfall equal to 1.8 years of GDP. Today, even if US production returns to its stable-inflation output potential by 2017 – a huge “if” – the US will have incurred an output shortfall equivalent to 60% of a year’s GDP. In fact, the losses from what I have been calling the “Lesser Depression”...

Entrenched Deflation Threatens Economic Recovery Economics / DeflationMarch 26, 2013 - 10:30 AM GMT By: Andrew McKillop TWO VIEWS ONLY There are basically only two possible views. One is that entrenched deflation happens when there is persistent falling demand for credit and declining rates of money ciculation in the economy, driving down prices for goods, services and credit. This is confronted and made worse by increasing physical supply (and supply capacity) of goods and services. Due to generalized over-borrowing in the recent "economic cycle", QE Everywhere cannot fill the gap caused by secular deleveraging. All developed economies are "pushing on...

The papal conclave is a gripping political story, and not just because reform-minded cardinals are pitted against old-guard “Romans.” The white-smoke watch resonates beyond the world’s 1.1 billion Catholics because the Vatican is emblematic of a 21st-century ill: the failure of social institutions to adapt to the times, and the public’s loss of faith in them. The parallels leaped to mind while I read this sentence in TheNew York Times’soutstanding analysis of papal politics: “The next pontiff must unite an increasingly globalized church paralyzed by scandal and mismanagement under the spotlight in a fast-moving media age.” Let’s play Mad Libs...

Is the U.S. Becoming a Banana Republic Politics / US PoliticsMarch 05, 2013 - 02:40 PM GMT By: Michael Pento It is sad to say there are just two reasons why the U.S. is not yet a banana republic. The first reason is that the US dollar has not yet lost its world’s reserve currency status, which is helping to keep interest rates at record low levels. If the dollar, yen and euro were not involved in a currency war, the dollar’s intrinsic decline would become much more evident, causing domestic inflation to soar, and our bond market to immediately...

We think of the iconic images of the Great Depression as representative of a uniquely miserable period, long vanished from American history. The bread lines and soup kitchens of those abnormal times have gone. So, too, has the sight of thousands of men (there were very few women among them then) waiting all day outside a factory in a forlorn quest for work. But they're there still, in the many millions across the country—little changed in their total since the 1930s: 12.3 million today are fully unemployed, compared to 12.8 million in 1933 at the depth of the depression. The...

Five disorders from depression to autism share a genetic link, which could pave the way for new treatments Autism, ADHD, bipolar disorder, depression and schizophrenia overlap at a genetic level Two gene markers common to all of the disorders govern the balance of calcium in brain cells New understanding could help develop treatments The five most common mental health and developmental disorders share a common genetic root, a study has found. Scientists found a link between autism, attention deficit hyperactivity disorder (ADHD), bipolar disorder, depression and schizophrenia. The findings, from Massachusetts General Hospital in Boston, could revolutionise how doctors think...