Tuesday, January 19, 2010

Pensioners---Get Ready to be Hosed

The US has lived "too high off it's hog" for too long.

Their are future promises that will not be kept, including many people pensions.

The IRA, 401K, government retirement accounts, and company retirement accounts are also at grave risk.

I hate to be callous about this....but why would anyone think that these promises would be kept?

Seriously....that promise of a large and continously made payment until you die, and sometimes after you die, and until your wife dies....why would anyone seriously expect these promises to be kept?

And it's not just the US, many countries have bubbled up, most of the "developed countries" anyway.

Adjust for the future, it may come sooner than you may like it too.

And the Fed may keep ramping up equities, it only costs them a few hundred million a day to do so....and its your tax money making you feel like you are rich....so why should they care? 

The Fed is not part of the US Government although they are "beholden" to each other.  They are in bed with each other. 

And the value of equities....same deal.  These are not even paper, just electronic clicks.

Get some currency, Gold, and Silver doesn't stink, but it is likely to either go down faster or not rise as fast.

If you want real currency, buy Gold.  Continuously.  Every 2 weeks.   Just my opinion of course.


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