What Schools Will Never Teach You About Money By Robert T. Kiyosaki

The Baby Boom Bust 
In the United States, there are approximately 75 million
baby boomers ready to start collecting Social Security and 
Medicare. Japan, England, France, and Germany have the same 
problem: baby boomers collecting on promises their countries 
cannot keep.
If 75 million American baby boomers collect just $1,000 a month 
in Social Security and Medicare benefits, that is an additional $7.5 
billion in monthly payments from the government. Obviously, 
the printing presses will be running, cranking out checks without 
money in the bank.
This is why debt-free is an oxymoron, even if you are debt-free.
 
FAQ
How long do we have?
Short Answer 
I hope it never happens. But if the biggest countries collapse under 
mountains of debt, who will be left to save the world? If Japan 
goes, the crisis will spread to the rest of the world.
Explanation 
In 2010, Japan’s debt was 200 percent of GDP. The United States is 
approximately 58.9 percent debt to GDP and growing. England’s is 
71% and growing.
solid personal work and savings ethics, their government continues 
to mismanage their economy.
The illusion American leaders promote is that Americans can work 
hard and produce our way out of these rising mountains of debt, 
that Americans need to work harder and save more money. This 
is why President Obama says, “American workers are the most 
productive workers in the world.” It seems he wants American 
workers to save the U.S. economy when it is the ongoing 
incompetence of our political and financial leaders that is the true 
cause of the problem. The people that need financial education the 
most are our leaders.
Thinking that hard work and thrift will save the U.S. economy is 
equivalent to a worker earning $10 an hour, believing he can work 
hard and pay the mortgage of a $2 million home, a Mercedes, a 
Porsche, a private school for his kids, and save enough for an early 
secure retirement. 
This is the same fantasy millions of Americans, Japanese, Brits, and 
Europeans and their government leaders are living in. If Japan goes 
down, crushed by its mountain of debt, the world will follow.