Tens of millions of Americans are living paycheck to paycheck, economist, columnist, radio host and international conference speaker Jerry Robinson is warning in his Follow the Money Weekly program this week.
"Scratch a little below the surface and you will find some staggering statistics," he says. "Here's a few examples:
"Nearly 40 percent of Americans have less than $500 in liquid savings.
"Approximately 132.1 million Americans (nearly 50 percent of the population) report that they do not have enough money in liquid savings to financially survive three months without their current paycheck.
"The average Baby Boomer will have an income of $190 per month during retirement."
He said, "Depressing, huh? Well, these are facts and America will soon be living with the consequences."
Robinson, as well as wife and co-host Jennifer Robinson, in their podcast discuss the explosive issue – and try to provide some hope.
They also address the crushing reality of America's student loan debt, a brief update on the crumbling petrodollar system and shocking new data just released by the Congressional Budget Office about the future of Social Security.
Then Tom Cloud joins the program to provide an update on gold and silver in this week's Precious Metals Market Updated, and in this week's investing idea, Jay Peroni shares information on a little known Mexican airport that could net you 10 percent or more over the next 12 months.
In the Retirement Minute, John Bearss talks about how most Americans' paycheck amounts went down beginning this year, and why.
Podcast is 55:41.
Jerry Robinson is an economist, published author, columnist, radio talk show host, and international conference speaker. Robinson has been quoted as an economic authority by USA Today, FoxNews and many other news agencies. His columns have appeared regularly in numerous print and web publications, including WND. In addition, Robinson is also the editor-in-chief of the popular economic newsletter, "Follow the Money Quarterly."