Highlights

According to economist Dr. Laurence Kotlikoff, the nation is facing runaway prices that could send the PMs skyward. With over $200 trillion in total debt, more than twice as dire as bankrupt Detroit - policymakers may find salvaging the system challenging. His new FREE BOOK: You're Hired! illustrates how the working / middle classes are trapped in an impossible welfare system - he outlines his plan to revamp the system with proper incentives. Dr. Kotlikoff encourages our listeners / readers to download the book and forward it to their congressional leaders. Six months before the Treasury market collapse, he advised our listener's to avoid debt. Given that higher interest rates are likely, municipal debt is at risk. Job automation is gaining momentum, such as automated pharmacies, toll booths, restaurants, retailers, etc., increasing the risk of greater income distribution inconsistencies and related societal unrest. The discussion includes recent news that an IBM Watson computer, which bested human contestants on the TV show Jeopardy, was purchased by a Japanese firm to replace 34 mid-level insurance analyst positions, resulting in a windfall profit for the company. Although shareholders will benefit, workers should take note formerly secure white-collar jobs are now at risk of automation. Sensible reform of fiscal, banking, healthcare policies could right the system.