How the Social Security System rips off Americans - Laurence Kotlikoff

Social Security Benefits Demystified With Economist Laurence Kotlikoff




Boston University economics professor and author of "Get What's Yours" explains why millions of Social Security recipients aren't getting what they're entitled to.

Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, a Professor of Economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research, and President of Economic Security Planning, Inc., a company specializing in financial planning software. Professor Kotlikoff received his B.A. in Economics from the University of Pennsylvania in 1973 and his Ph.D. in Economics from Harvard University in 1977. From 1977 through 1983 he served on the faculties of economics of the University of California, Los Angeles and Yale University. In 1981-82 Professor Kotlikoff was a Senior Economist with the President's Council of Economic Advisers. Professor Kotlikoff is author or co-author of14 books and hundreds of professional journal articles. His most recent books are Jimmy Stewart Is Dead (forthcoming February 22, 2010, John Wiley and Sons, Spend 'Til the End, co-authored with Scott Burns, Simon & Schuster, The Healthcare Fix (MIT Press), and The Coming Generational Storm (co-authored with Scott Burns, MIT Press). Professor Kotlikoff publishes extensively in newspapers, and magazines on issues of financial reform, personal finance, taxes, Social Security, healthcare, deficits, generational accounting, pensions, saving, and insurance. Professor Kotlikoff has served as a consultant to the International Monetary Fund, the World Bank, the Harvard Institute for International Development, the Organization for Economic Cooperation and Development, the Swedish Ministry of Finance, the Norwegian Ministry of Finance, the Bank of Italy, the Bank of Japan, the Bank of England, the Government of Russia, the Government of Ukraine, the Government of Bolivia, the Government of Bulgaria, the Treasury of New Zealand, the Office of Management and Budget, the U.S. Department of Education, the U.S. Department of Labor, the Joint Committee on Taxation, The Commonwealth of Massachusetts, The American Council of Life Insurance, Merrill Lynch, Fidelity Investments, AT&T, AON Corp., and other major U.S. corporations. He has provided expert testimony on numerous occasions to committees of Congress including the Senate Finance Committee, the House Ways and Means Committee, and the Joint Economic Committee.






The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

Laurence Kotlikoff-U S Treasury Bonds One of the Riskiest Securities in the World

Where can you get a safe investment? Boston University Economics Professor Laurence Kotlikoff says, forget U.S. Treasury bonds. “I think they are one of the riskiest securities in the world because interest rates are likely to go up. I think the Fed is going to have to keep printing money because Congress isn’t paying our bills, and that’s going to lead to inflation eventually. So, I think long term Treasuries are extremely risky and they can drop 5%, 10% or 20% overnight. That could put my bank that was viewed as perfectly safe today--out of business. So, we could have inflation take off, and interest rates go up. We could have banks fail, and that could lead to runs on other banks. That’s the scenario,” says Professor Kotlikoff.
Join Greg Hunter as he goes One-on-One with Professor Laurence Kotlikoff, best-selling author of “Get What’s Yours: The secrets to maxing out your Social Security.”



The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

Laurence Kotlikoff -- Get What's Yours: The Secrets to Maxing Out Your Social Security

Professor Laurence Kotlikoff was on discussing his best selling book

Get What's Your, The Secrets To Maxing Out Your Social Security. He shows how taking simple steps can get you hundreds of thousands in benefits that you would have never gotten. It's all legal and you paid for them. Why leave anything on the table? You're going to get short-changed anyway, so get all you can, you paid in a fortune!






The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

Laurence Kotlikoff -- Hyperinflation Not Deflation

 Dr. Laurence Kotlikoff, formerly a top economist in the Reagan Administration, thinks if things get out of control, we’ll get hyperinflation--not deflation. Dr. Kotlikoff warns, “I think it’s already gotten out of control because of the amount of money that has been printed. I don’t think anything fundamental has been done in the U.S. or Europe to address the structural issues. The banking system is in riskier shape than it was. There is nothing in the Dodd-Frank legislation that I see in terms of keeping us from anther meltdown or another run on the banks that we had before. I do worry about that, and I worry that in the U.S. we have no adult leadership in either party. . . . Social security is 33% under-financed, according to its own trustees report. . . . Our entire fiscal enterprise is about 58% under-financed, meaning we need a 58% immediate increase in our taxes to cover all the spending that we have. . . . So, the country is really broke.”




The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

Laurence Kotlikoff -- SIPC Running a Ponzi Scheme

Economics professor Laurence Kotlikoff is sounding the alarm for massive and ongoing Wall Street fraud. When there is fraud, your brokerage insurance is nearly worthless. Dr. Kotlikoff says, “Every day, we are reading about a big bank being fined billions of dollars. Recently, Bank of America had a $16 billion fine the bank had to pay for selling fraudulent securities. They know they are selling you snake oil and they are getting away with it, and nobody is going to jail. I call Wall Street, at this point, Fraud Street, and one of the biggest rackets is the SIPC (Securities Investor Protection Corporation) brokerage account insurance--it’s not really insurance. A fraud occurs and Wall Street, through SIPC, says we owe you nothing, and they sue you to get paid back. That’s what we call an insurance scam. Wall Street, through SIPC, has been running a massive insurance scam. . . . In many ways, you could say SIPC is running its own Ponzi scheme.”

Laurence Kotlikoff : Social Security is a Ponzi Scheme

Laurence Kotlikoff: Social Security Is Grossly Unfair, Insolvent, and Needs to Be Retired




Jim welcomes back Laurence Kotlikoff, Professor of Economics at Boston University. Professor Kotlikoff has provided expert testimony on numerous occasions to the Senate Finance Committee, the House Ways and Means Committee, and the Joint Economic Committee.

Laurence Kotlikoff -- Where Will Tapering Lead? 09.Apr.14

Professor Laurence Kotlikoff sees more and larger deficits ahead. Even though the Fed is ending Quantitative Easing and pulling the punch bowl away, there's no desire on the part of the administration or congress to get their act together. Thus, the situation will continue to deteriorate until a real disaster occurs.

Laurence Kotlikoff -- $205 TRILLION: The Real Debt

Economist Laurence Kotlikoff joins us to discuss the REAL DEBT of the U.S. government which is now $205 TRILLION when unfunded liabilities are actually counted. We have a country "that is entirely broke, fiscally broke - it's probably in worse shape than any developed country We are in terrible shape, even worse than Detroit because the people doing the accounting are engaged in fallacious accounting..."

Laurence Kotlikoff ~ The Can will Kick Back Down The Road

GoldSeek Radio's Chris Waltzek talks to Laurence J. Kotlikoff, a Professor of Economics at Boston University,

Professor Laurence J. Kotlikoff Boston University Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, a Professor of Economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research, and President of Economic Security Planning, Inc., a company specializing in financial planning software. An active columnist, Professor Kotlikoff's columns and blogs appear in the Financial Times, Bloomberg, Forbes, Vox, the Economist, Yahoo.com, and the Huffington Post. Professor Kotlikoff received his B.A. in Economics from the University of Pennsylvania in 1973 and his Ph.D. in Economics from Harvard University in 1977.

Professor Laurence Kotlikoff - Fed Printing 29 Cents of Every Dollar Uncle Sam Spends

Dr. Laurence Kotlikoff says, "The government is printing mountains of money to pay its bills. The Fed is printing 29 cents of every dollar that Uncle Sam is spending." What happens if this continues? Dr. Kotlikoff, a Professor of Economics at Boston University, says, "Eventually somebody recognizes this and starts dumping the bonds, and interest rates go up, and inflation takes off, and were off to the races." In closing, Dr. Kotlikoff warns, "This is going to crash, but there are different ways for cancer to kill you. It can be very gradual . . . or it can attack some organ and you can die overnight. Either of those outcomes can happen." Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Professor Laurence Kotlikoff.

Laurence Kotlikoff on The U.S. Unfunded Liabilities Disaster ~ The Robert Wenzel Show

Laurence Kotlikoff on The Robert Wenzel Show

Economics Professor Laurence Kotlikoff says The US national debt is twenty times higher than is officially reported, approaching $222 trillion, and today's children could soon be paying their parent's debts

Laurence Kotlikoff ~ A Balanced Discussion on "Too Big to Fail"

Professor Laurence Kotlikoff. Prof. Kotlikoff is a Professor of Economics at Brown University and President of Economic Security Planning, Inc., a company specializing in financial planning software. Prof. Kotlikoff is author or co-author of 16 books and hundreds of professional journal articles. Professor Kotlikoff also sought the nomination for President of the United States in 2012 for the advocacy group Americans Elect and the Reform Party of the United States.


Systemic risk and "TBTF" are again the subject of intense debate on Main Street, Wall Street and in the halls of Congress. This panel discussion provided a well-balanced presentation of the "TBTF" problem, and various ways to address it.

Panelists include Harvey Rosenblum, Paul Saltzman, Laurence Kotlikoff, Cornelius Hurley and William P. Mayer

Hosted by the Center for Finance, Law & Policy on March 26, 2013.

European Bank Runs Could Spread Like Wildfire Due to Cyprus Banks - Laurence Kotlikoff

Laurence Kotlikoff is professor of economics at Boston University, fellow of the American Academy of Arts and Sciences, research associate of the National Bureau of Economic Research, fellow of the Econometric Society, and former senior economist of the Presidents Council of Economic Advisers.


Economics Professor Laurence Kotlikoff says banking problems in Cyprus "could spread like wildfire throughout Southern Europe and Northern Europe and into the U.S. because we have a banking system that's built to fail." Dr. Kotlikoff also says, "It's going to happen in the form of a crash in the bond market. Interest rates are going to skyrocket, and we're probably going to have high inflation because the government is printing money out the wazoo." Join Greg Hunter as he goes One-on-One with Economics Professor Laurence Kotlikoff of Boston University.

Laurence Kotlikoff ~ Debt Crisis looming as Washington 'hides the real fiscal cliff numbers’

That's $200 trillion over next 75-years if severe changes are made. We are going to have to address the military budget, but we must also address the welfare and bureaucratic states. The over-65 demographic is wealthiest in the country. The avg. person over-65 has 14 times more assets than an individual that is 34 or younger. While there are older people that have been made totally dependent on these programs, there are millions of seniors that can pay their own freight.

Laurence Kotlikoff: Well, we economists look at all the bills the government has to pay, and in the US case we have enormous bills that have been kept off the books. They’re not the official debts, but they are very real. For example, paying me my social security benefits, my old-age pension – that’s a real obligation. It’s not part of the official government debt, but it’s very important because there are 78 million baby boomers who’re going to get their social security payments, and, in addition, medical payments from the government. If you look at all those payments, they are about $3 trillion a year. So we have these huge bills, nobody has thought about paying for them, and Congress and the presidents over the years have just focused on official debt, and basically have not told the public about these big bills.

Professor Laurence Kotlikoff - Bernanke Playing With Fire

Economist Laurence Kotlikoff says, "We are actually in worse shape than any developed country. . . We are using accounting that would make Bernie Madoff blush." Kotlikoff thinks the Federal Reserve could easily lose complete control of inflation and warns, "Ben Bernanke is playing with fire here because we could have a tripling of the price level." Join Greg Hunter as he goes One-on-One with Boston University Economics Professor Laurence Kotlikoff.