I just read in Jow Forums about a potential collapse of the American economy due to a projected problem with social...

I just read in Jow Forums about a potential collapse of the American economy due to a projected problem with social security where the amount they need to pay retirees outweighs the amount they take from working class. How true is this and if this were to happen, how bad would it be?
Pic unrelated

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Yes, social security will fail in the future, There will be more people taking than putting into the system. Once they run out of money. Shit is gonna get real interesting.

In an annual report, the Social Security Board of Trustees said the trust funds that help support the system will run out of money in 2034, in keeping with previous projections. If nothing changes, only 79 percent of an individual's benefit will be payable at that point


So we got some years to go but it will happen within your lifetime and before you get to start getting your money. I myself expect to be dead before 2034.

Is it going to crash the economy? 77% seems almost alright compared to what I had heard. What's the best way to prepare for this collapse of the system?

DESU, Its an issue that lawmakers and institutions know about in the US and the sad truth is that the benefits are going to be cut and SS won't look the same way it does now in 20 years. The problem is no politician really wants to do it, but Trump might do it during his second term (if). Left and Right will protest (especially left), but avoiding that SS "bubble" is def on people's minds. The most likely case is a lot of angry people, but idk an American economic collapse is in the cards, especially when world finance is in dollars and the only one printing dollars is the US Fed.

That's the tipping point, we likely won't see a dime of our social security contributions. Buy guns, buy ammo, buy gold/platinum/BTC and build a doomsday bunker /innawoods/

IMO, planning for stateless anarchy only breeds the prospect of it. A better idea for Americans/those with senpai or friends there is to just plan for reduced social security benefits and aim for higher ed/tech jobs that automation won't be wiping out in the next couple decades.

>higher ed
Good look fighting off the hungry barbarian hordes with your degree kek

I'm sure the US can just lower their military expenses.

It's pathetic you're just hearing of this now. This has been discussed since the 90s and been a hot topic since 2010

Well, I think the military spending is probably fine as long is it doesn't increase. The issue isn't what costs what now, the issue is the rate of increase. If Social security costs increase as a portion of the budget by 2% each year.... You see how that can be a huge problem in a couple decades.

Exactly. Sounds like he isn't from the US though, so no fault there. But, jumping to "the US economy is going to collapse, isn't productive lol"

They are solving this problem by secretly killing off the elderly through induced cancers and strokes.

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But are they gonnaaaa
Forgive my blatant distrust of the us government and lawmakers who got us into this mess

I am American, heard about it in school but disregarded it, now I am serious about it. I am trying to gauge how serious I should be about prep

It's not true. thats fucking retarded

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Social security will never "collapse" since they'll just cut the payout. Also Americans haven't reached the Greek-like mentality of protesting over cut pensions; by the time the money does run out there will be too few boomers and the younger generation will have grown up accepting that they won't see a penny of it.

Once the money runs out you won't see a system collapse either since it's a separate Ponzi scheme - just a pool of money that dwindles away. It running out of money will by definition not affect the market.

Exactly. Amen brothers. Some non-doomprepers with sanity here.

Found the glowniggers

I'm not against preppers and I do think people should take reasonable measures on a personal level. It's just that in my view social security drying up will not be the event that causes a collapse.

not sure why doomers constantly spam Jow Forums
The only doom they will face is when they die alone in their barbed wire covered shack

You fell for "discretionary expenses" meme. Military is the only justifiable state expense and it's not even that big, relatively speaking.

Dying boomers desperately (selfishly) trying to keep themselves alive are going to bankrupt nations everywhere. Why do you think governments are inviting foreign hordes of young men? They think they can prop up the ponzi.

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Yeah except there are two major problems with that
>The amount of jobs being automated away will cause major parts of the population to be radicalizable
>Neoliberal elites' estimate of automation wiping everything out is too optimistic and they're playing their hand too early.

This, if you guys wanna short something, spain have this greek-social mentality and our social security will start destroying itself in about 5 years.

Thank you, I never expected to see social security and honestly I hate the system, but I don't have to worry so much. Jow Forums has a way of blowing some things out of proportion.

cool it with the anti-semitism fren. We have to protect our greatest ally Israel.

>77% seems almost alright
Tell that to old people that even at 100% as is current can barely survive.

It will be a shit show at 77%

Yeah we needed the SS money for Israel and the 1%

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Thanks for the amazing photo OP