My GLD investment has been helping me a bit this year. It's a small % of my portfolio though
Watch Platinum. If gold goes up, platinum has to as well. Platinum is technically the better metal but Gold has more of an intrinsic value to humans, including setting the standard for the dollar value.
History is crystal clear that countries with our level of debt can only manage it by inflating away their currencies. If we had a sane government (and sane voters) we could dial back spending significantly as we did in the late 1940s and 50s. But it is hard to be optimistic about the narcissistic, welfare-addled, mentally ill masses in modern America.
History is crystal clear that countries with our level of debt can only manage it by inflating away their currencies. If we had a sane government (and sane voters) we could dial back spending significantly as we did in the late 1940s and 50s. But it is hard to be optimistic about the narcissistic, welfare-addled, mentally ill masses in modern America.
Lmao, this guy thinks poor people are the ones hurting America.
It’s a hedge against inflation and the funny money policies of the Biden Administration. It’s like crypto only with intrinsic value.
The real interesting thing to watch in the coming months will be the Fed’s behavior leading into the election. The Federal Reserve Board is full of Democrats, and most were speculating that they would be enacting three rate cuts at the next few meetings to help get Biden elected. This has propped up the stock market recently. Time will tell if the Fed will stick to its apolitical facade or if they will enact rate cuts in spite of market signals to the contrary in an effort to get their guy across the finish line.
Entitlement spending and interest payments equate to almost 100% of federal revenue. The big drivers under Biden that he can control (outside of Social Security and Medicare) are Obamacare and interest payments. Both of which have blown up under Biden due to his excessive spending. The American Rescue Plan drove up interest rates on the already massive national debt, so now, we are paying more and getting nothing in return.
Interest on our national debt will surpass social security outlays in 20 years.
We could be thoughtful about paring back SS and Medicare, but that won’t happen. Eventually we will get disciplined by the global market will and that will be far worse than any nips around the edges we could make right now that would correct our crash course.