Don’t WAIT For Social Security’s Crisis-It’s Here-Investors
Don’t Wait For Social Security’s Crisis – It’s Here –Investors
“Entitlements: Social Security is like the classic children’s tale, ‘The Boy Who Cried Wolf.’ So many warnings have been made, no one listens anymore. Well guess what? The wolf’s now at the door. Are you listening now? For the first time in 36 years, Social Security will take money out of its ‘trust fund’ – an accounting fiction that would get you jailed for fraud in the private sector – to pay retirees. The truth is, Social Security is for all intents and purposes bankrupt. Since 2010, Social Security has been spending more than it took in, making up the difference by tapping into the interest paid on a $2.9 trillion government bond fund….By 2034, the entire pile of IOUs will disappear. Everything. It will require slashing benefits by at least 21%, or raising payroll taxes by 31%….So our financial Armageddon is coming earlier than expected. Putting an end to this latter-day Ponzi scheme won’t be easy. It’s time for all of us, politicians and citizens alike, to consider real, workable alternatives to fix the problem.”
Gold News Daily
6.11.18 – Social Security Crisis is Here
Gold last traded at $1,303 an ounce. Silver at $16.95 an ounce.
NEWS SUMMARY: Precious metal prices rose Monday on geopolitical uncertainty and a flat dollar. U.S. stocks inched higher following a turbulent G-7 meeting, ahead of key North Korea summit and Fed rate decision.
Gold Prices Edge Higher with Central Banks, U.S.-North Korea Summit in Focus –UK Investing
“Gold prices started the week higher in midmorning trade Monday while investors returned to their desks to digest the trade tension over the weekend at the G7 summit and looked ahead to the summit between the U.S. and North Korea as well as key policy decisions from the Federal Reserve and European Central Bank….In a session with no major U.S. economic reports, market participants were busy digesting the increased trade tensions that came out of the G7 summit over the weekend. U.S. President Donald Trump refused to endorse a G7 declaration calling for a reduction of tariffs, as he continued to lash out at traditionally close allies for allegedly treating the U.S. unfairly. Markets seemed unfazed by the outcome, with equities trading mostly higher on Monday, as attention turned to Singapore where Trump prepares for a historic summit with North Korean Leader Kim Jong Un to take place on Tuesday at 9:30AM local time….Meanwhile, markets were also prepping for a key week for central banks. The Fed’s two-day meeting will kick off on Tuesday with almost certain to raise interest rates by a quarter point for a second time this year at the conclusion of its two-day policy meeting at 2:00PM ET on Wednesday.”