SCHEDULE YOUR FREE PORTFOLIO REVIEW with Wealthion's endorsed financial advisors here: https://www.wealthion.com/ What happens when the biggest benefits cliff in US history collides with the biggest fiscal & monetary cliff ever? Wealthion founder Adam Taggart provides a quick explainer video on one of the biggest stories not getting sufficient attention right now: the reduction & expiration of federal unemployment benefits to nearly 10 million Americans. This expiration represents the largest benefit cliff ever for the US. To recap: in response to the tens of millions of job losses resulting from the COVID-19 pandemic last year, Congress passed the CARES Act and the American Rescue Plan, which issued an unprecedented amount of emergency federal unemployment benefits to laid-off workers. These extraordinary payments were distributed under 3 programs -- the Pandemic Unemployment Compensation (FPUC), the Pandemic Unemployment Assistance (PUA) and the Pandemic Emergency Unemployment Compensation (PEUC) -- all which started in 2020, were extended several times, and just expired this past Labor Day weekend. With their expiration, roughly 7.5 million Americans will lose all the federal unemployment benefits they’ve been receiving. Another 2.7 million will see their benefits cut by $300/week. This is a stark cut-off, as most recipients were receiving over $25,000 per year from these programs, which collectively injected over $268 billion dollars into US households… and thus into the economy. The instantaneous loss of these weekly payments to 10 million Americans will have implications both economic, financial and social. But make no mistake, this will be deflationary to the consumer spending -- those benefit checks (“stimmies” as many called them) have been used to buy everything from essentials like food to discretionary items like cars to meme stocks and speculative cryptos like Dogecoin over the past year. And as I’ve reported in this past, the expiration of these benefits also correspond with the recent expiration of the federal moratoriums on rental evictions and home foreclosures. So not only are these folks losing their benefit checks, but millions of them may soon be at risk of losing the roof over their head, as well. At Wealthion, we show you how to protect and build your wealth by learning from the world’s top experts on finance and money. Each week we add new videos that provide you with access to the foremost specialists in investing, economics, the stock market, real estate and personal finance. We offer exceptional interviews and explainer videos that dive deep into the trends driving today's markets, the economy, and your own net worth. We give you strategies for financial security, practical answers to questions like “how to grow my investments?”, and effective solutions for wealth building tailored to 'regular' investors just like you. There’s no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P; 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead? Let us help you prepare your portfolio just in case the future brings one or more of the following: inflation, deflation, a bull market, a bear market, a market correction, a stock market crash, a real estate bubble, a real estate crash, an economic boom, a recession, a depression, or another global financial crisis. Put the wisdom from the money & markets experts we feature on Wealthion into action by scheduling a free consultation with Wealthion’s endorsed financial advisors, who will work with you to determine the right next steps for you to take in building your wealth. SCHEDULE YOUR FREE WEALTH CONSULTATION with Wealthion's endorsed financial advisors here: https://www.wealthion.com/ Subscribe to our YouTube channel https://www.youtube.com/channel/UCKMeK-HGHfUFFArZ91rzv5A?sub_confirmation=1 #unemployment #eviction #foreclosure ____________________________________ IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss.

• published: 09 Sep 2021
• views: 834