(1972) Pensions: The Broken Promise Documentary

(1972) Pensions: The Broken Promise Documentary

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This Peabody award-winning 1972 NBC News documentary investigates abuses in the private pension system by telling the stories of several people who say their employers unfairly deprived them of their pensions. After the program aired, Accuracy in Media (AIM), a public interest group, filed a complaint with the Federal Communications Commission (FCC) alleging that NBC had violated the fairness doctrine by presenting just one side to the story. The FCC agreed and ordered NBC to provide coverage of the other side of the story, the first time it had ever made such an order. NBC took the case to the federal court of appeals where the ruling was eventually overturned, 2-1.

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DISCLAIMER: The financial and political opinions expressed in this video are those of the guest and not necessarily of “Rethinking the Dollar”. Opinions expressed in this video should not be relied on for making investment decisions, tax advice and do not constitute personalized investment advice. The information shared is for the sole purpose of education.

(#1972) #PensionCrisis – The Broken Promise #Documentary

49 thoughts on “(1972) Pensions: The Broken Promise Documentary”

  1. Just because you are promised a pension does not mean you do not save and invest your own self…I look at a pension as a bonus in retirement but would be good if I got it or not….not everyone thinks like me tho

  2. Anyone who believes in a Bogus Government Promise in the form of a Pension and Social Security is a Fool. It is that simple. National Debt 23 Trillion means each tax slave owes Uncle Scam over $800,000 and that does not include over $200 Trillion in unfunded liabilities, with little or nothing to show for it except Fake Space Travel and Fake Nuclear Weapons that are not real and don't work. Why would anyone trust a single word that they tell you?

  3. This is gonna be a whole generation of baby boomers I find this hilarious the generation who could go to the movies for 10¢ the generation that could buy a house for 30k the generation that sat back a let Nixon take them off the Gold standard I hope this happens to every single one of them

  4. The largest cohort of the population is at the age of retirement, the corrupt bankers have made plans for this eventuality for decades.

    They carefully manipulated the financial system around the globe to create just the right circumstances to effect a "transfer of wealth".
    The devaluation of the dollar (loss of purchasing power) is baked into the cake of the fiat monetary system.
    The only way to preserve our wealth is to buy precious metals (and now cryptocurrencies).

    Not invest in their corrupt pension scams.
    The bankers that have created this system need to be held accountable, their personal assets need to be seized, they need to be jailed as the criminals and enemies of the state that they really are.
    Sadly the judicial system is rife with their cohorts and will not execute the laws as written, and they get off with minimal fines and no jail time.
    I can build a guillotine, who is willing to bring the criminals to it?

  5. I'm 32 and invested in silver and bitcoin and planning to set aside some commodities to buy chinese stock on the dip when debt system crashes. Fuck hard and honest work, im taking responsibility to take healthy risk for the rewards while im still young and sock away the proceeds into safe commodities and real estate to rent to others. I will work smarter, not harder to live with less worrry when i become an old fart

  6. That's what happened when you count on someone else it sucks how government and companies cheat you out of your labor if we learn anything from this is what my mom always told me don't put all your eggs in one basket can't trust no one

  7. Crisis result of a failed currency example when Nixon took the USA off the gold standard to petro dollar that transition brought about hyperinflation, oil embargo, pension employment issues. This time " No Cure or remedies " so they'll going after the population for every drop of blood! Society will get officially desperate and ugly, best to be prepared for the worst! TY Mike, fantastic history lesson!

  8. All those people are white. They want to live in dignity. Black in people in America have never been given that opportunity. I hope all of those who have lived off of the backs of people of color get everything they got coming their way. I don't feel bad for them in the least.

  9. Great video.  The majority of pensions today are underfunded.  Consider the following ways to earn extra money and buy Silver NOW while the price is so low:   If you have an extra room in your home RENT IT OUT.  If you can prepare meals to sell to friends, neighbors, etc do it.   Use that money to buy Silver.  If you are able to purchase a rental property, possibly a duplex where you live in one and rent the other out do it.  Downsize if that will save money.  During the great depression many were able to save their homes because they rented out a room.  No shame in doing that.  Use your car as a taxi to make extra dollars and buy Silver.   At some point in the future Silver will be worth a lot more than you think.  It is completely liquid and you can sell it at any time.  Bad times are ahead so prepare as best as you can.

  10. I'm 66 years old, still driving truck. I haul HAZARDOUS MATERIALS. I would like to retire, after 44 years of driving, but you can not live off of social security. Inflation has destroyed the purchasing power of the dollar, and no increase in social security to keep up with inflation. The same is true with pension plans. Inflation has destroyed them as well.

  11. I have sympathy for these people in the old days information wasn’t easy to find…but these days the information you need to ensure this doesn’t happen to you is freely available on the internet. Trust no one…& literally if you don’t hold it..don’t assume your gonna get it…turn MSM off for starters or if you do have to listen to it believe the exact opposite of what they tell you..

  12. My uncles wifes father killed himself because this exact thing happened. 6 mo before retirement, they terminated him with no recourse. Used him up and threw him out. Company was Celanese Industries in Cumberland MD. This occurred in the early 70s. Really tragic. Unlike the Trump whistleblower this is actual first hand knowledge verified by others.

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