Jim’s Rant For The Day. What Families Can Expect Financially From The Reset. Part III
Financial Impacts Of The Reset Part III
“Today’s word of the day boys and girls is “Change”. - Mr. Rogers, T V Land
“When your income is less than your outgo, your upkeep will be your downfall.” - Frustrated Accountant somewhere
The bank Gordian knot will never be undone. They will be nationalized and downgraded to essential duties such as paper clearing. If there is a business investment department remaining it will not be for the profit of “owners”. The deathblow will be a one time announcement that the debtors don’t have to repay loans if they don’t wish to. See: Above Quotations
Loans between individuals will remain in force. Student loans. See: Bank Loans Loans for autos, solar systems and credit cards. See: Bank Loans Mafia loans: See: Travel Agency
Insurance & Annuities
Most Insurance companies will collapse. Most Annuity companies will collapse.
Pensions & SSI
Both may continue to receive “bridge” payments for perhaps six months.
Pensions will collapse. They are heavily vested in stocks and mortgages. Sorry folks, we got on the wrong bus. SSI will probably end. If we assume we are going back to the Republic of 1871 and the bankrupt corporation government is no more, then the Republic will have to wipe the slate clean and start all over. It then can come back and cherry pick a few policies it wishes to amend and then ratify. I don't see it rushing into the SSI type programs. The six month bridge is to keep 100,000 elderly with walkers from immediately trying to storm through the turnstiles at the Capital before they understand their financial situation.
Jobs & Businesses
Hospitals & Medical Practices. Not immediately but eventually they will collapse and be reborn twice. This will be due to the collapse of Medicare and health insurance companies. It will be exacerbated by the Medical Journals that served the insurance companies for years but now no longer being followed due to impossibility in the field (hospitals). It may take the journals years to come back into control. The medical industry will have terrible shakeups from both the above as well as partial collapse of the pharmaceutical industry. The medical practices will fail and then come back up in a new business model. It will quickly fail and finally come back up as small medical associations mostly focused on general practice of wellness. There will be a few specialty centers in each community.
Global Organizations They will mostly die. Some may survive as manufacturers only but not as retailers. The future will be small business owners in local communities. The business schools never prepared us for this so there will be a lot of learning to be done on the fly. Gone will be most government regulations. Basic contract and business law books should be nearby for continuous reading. That will be the new MBA.
Cooperative Business Models. This too may be the future. It will be a network of buddies going after small jobs when it suites them. There may be no need for a storefront with 50 employees to feed forever.
Don’t expect to stay in your current job three more years to earn that pension. IRS. Gone. Sorry about that folks.
40 Hour Work Week. Gone. Sorry about that folks.
If all goes to plan, reparations will be paid to U. S. citizens, based on SSI information, for all offenses against them by the bankers, pharmaceuticals, elite and general ass holes over the many years of our lives. Payment will be courtesy of the elite, banksters (now with a little "b"), Et. Al.
The bottom Line: You gained some money, you lost dearly earned money then got a lot of money. So far you don’t have a money problem so don’t sweat it.