Treasury Secretary Scott Bessent has pointed fingers at China for imposing export controls on rare earths and critical minerals, calling it a deliberate effort to sabotage the global economy amid their own economic struggles.
These restrictions target materials essential for advanced technology, including U.S. military applications like the F-35 fighter jets, Tomahawk missiles, and precision-guided bombs. China’s decision marks the first time they’ve explicitly blocked exports for military purposes, escalating tensions right before a planned summit between President Donald Trump and Chinese leader Xi Jinping.
Bessent didn’t mince words in his Financial Times interview: “To pull everyone else down with them.”
The timing couldn’t be worse for markets, which have turned shaky since the spat intensified. Wall Street opened lower on Tuesday, reflecting investor jitters over the fallout.
President Trump fired back with a promise of 100% tariffs on Chinese imports effective November 1, and he’s even floated scrapping the Xi meeting altogether. This kind of bold stance protects American industries from unfair practices that could erode our economic edge.
Bessent tied China’s actions to their internal woes: “They are in the middle of a recession/depression, and they are trying to export their way out of it. The problem is they’re exacerbating their standing in the world.”
He also warned about the boomerang effect: “If they want to slow down the global economy, they will be hurt the most.”
For American workers and businesses, this episode serves as a stark reminder of the risks in relying on foreign adversaries for vital resources. Building up domestic production and diversifying supply chains could shield the U.S. economy from such manipulative tactics, ensuring long-term growth and security.
The Biggest Threat to Your Retirement Is Actually a Very Good Thing
When you look at the headlines today, you’ll see experts in the retirement industry warning about big threats to your financial security:
- De-dollarization and the rise of BRICS
- Soaring national debt
- Unstable interest rates
- Weakened U.S. dollar
All of these are real concerns. But they aren’t the biggest threat to your retirement savings. The true risk isn’t political, monetary, or global.
It’s longevity.
Why Longevity Is the Silent Threat
For most of human history, the problem was the opposite — life expectancy was short, and few people even reached retirement. Today, thanks to medical advancements, healthier lifestyles, and better living conditions, people are living longer than ever before.
And while that’s a wonderful thing, it comes with a financial catch: Your retirement account has to last far longer than you might expect.
- A 65-year-old couple today has a 50% chance that one of them will live to 90.
- Some projections suggest that many of us will live well into our 90s, even 100+.
- This means your nest egg may need to stretch not for 15 years, but 25, 30, or even 40 years.
That’s where the real danger lies: running out of money before you run out of life.
The Retirement Equation Has Changed
While market volatility, debt crises, or central bank policies may feel like the scariest threats, they’re temporary storms. Longevity, however, is a structural shift. Every extra year of life is another year of expenses, another year of inflation erosion, and another year of financial pressure.
If your retirement plan doesn’t account for longevity, you could face tough choices later in life — downsizing, working when you’d rather not, or becoming financially dependent on others.
How to Take Control
The good news? Longevity is a blessing — as long as you’re prepared for it. With the right planning, your retirement savings can work for you instead of against you. The key is learning how to protect your wealth, outpace inflation, and ensure your savings grow even as you live longer.
That’s why our friends at Augusta Precious Metals created a free resource to help you get started:
👉 Get Instant Access to the report, “How to Take Full Control of Your Financial Future”
This brief report will show you practical strategies to safeguard your retirement from the biggest threat of all — the one that comes from the gift of living longer.
Don’t let longevity catch you unprepared. Take the steps today to secure tomorrow.
