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Own Nothing. Never Retire.

Chris Campbell

Posted June 30, 2022

Chris Campbell

It all started with those “I bought a bag of air today” jokes.

You know what I’m talking about:

“But the company was kind enough to put a few chips in the bottom of the bag.”

People gave this a word: shrinkflation.

They started noticing that the products on the shelves were getting smaller.

But, wait.

Look on the bright side, some said: “Shrinkflation will solve the obesity problem” and “Now, you no longer have to feel guilty about eating a whole bag of chips!”

Around that time, you’ll recall, we were also told that inflation isn’t actually happening. It was all just a figment of our collective imaginations.

Of course, that narrative wouldn’t last.

Wait, they said.

It’s happening, but it’s transitory.

Wait, they said.

It’s not transitory, but runaway inflation is actually a good thing, especially for “everyday” people.

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When that spaghetti string didn’t stick to the wall, they pivoted again.

It could actually be bad if you’re poor. But it’s a good thing for the planet because now poor people can’t afford meat.

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Wait. No.

Rampant inflation is happening, and it’s bad, and it’s Putin’s fault.

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No? OK. Let’s try the bright side again…

Sure, things are bad. But inflation is a lesson in wanting what you used to own. (← You are here.)

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Whether the media and politicians are doing it deliberately or not…

This is textbook “gaslighting,” a form of psychological manipulation where an individual, or a group of individuals, spins up a narrative in an effort to get people to question their own reality.

Gaslighting happens when someone wants to make something bad seem good… or to deflect attention away from a root cause… or both.

If you think gaslighting is bad for runaway inflation…

Just wait until they start gaslighting you about retirement.

Own Nothing. Never Retire

Consider our current situation.

According to the U.S. Census Bureau, the majority of Americans have $0 saved for retirement.

Zip. Zilch. Nada.

Worse, 49% of adults aged 55 to 64 have ZERO personal retirement savings.

Of the remaining 51%, the average savings is $134k, not nearly enough.

Furthermore, Social Security is on track to be insolvent by 2035 and Medicare by 2028.

Rather than confront the retirement crisis directly, politicians and the media will likely commit to the same strategy: they’ll explain how this is actually a good thing.

(I can see the headlines now: “Can indentured servitude be a force for good?”)

For starters, they’ll point to studies showing that when people retire early, they die early.

Just like this article from Inc., which reads:

“The truth is that we are doing an enormous disservice to society by setting retirement as an end goal to a long career.”

Why, the writer ponders, “are we stuck on the zero-sum proposition that work is bad and retirement is good?”

Now, I get it. There’s room for nuance.

It’s one thing if you’re pushed and prodded out of doing something you love. But it’s another thing entirely if you’re given no option than to be worked to death.

The ONLY answer is to empower yourself with the freedom to choose.

Fortunately, there are still ways to do that and build a healthy cushion.

This week, Jim Rickards is offering his best defense strategy right here at this link.

There’s one catch: this page will go offline tonight at midnight.

Click here for everything you need to defend and grow your portfolio.

Chris Campbell
For Altucher Confidential

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