Illustration: Sarah Grillo/Axios
Retirees are facing the prospect of substantial Social Security cuts in just seven years, sooner than projected, due to the “big, beautiful bill,” per an analysis out Thursday from the Committee for a Responsible Federal Budget. Continue reading
The forecast predicts that a dual-earning couple who retire at the start of 2033 would receive $18,100 less a year in vital benefits
Social Security’s retirement fund is set to run short in just seven years — which could end up slashing benefits for millions of Americans by thousands of dollars a year.
According to latest projections, retirees could face automatic 24 percent benefit cuts as early as the end of 2032.
The new forecast from the nonpartisan Committee for a Responsible Federal Budget (CRFB), released Thursday, moves up the insolvency date for both Social Security and Medicare trust funds. Continue reading
The US owes a LOT less money to China today than it did a few years ago…
As recently as three years ago, for example, China held $1.3 trillion worth of US government bonds. Today they’re down to around $750 billion.
In other words, China’s government has decided to cut back on its US dollar Treasury holdings by more than 40% over the past three years.
And at first, that might sound like a good thing – HOORAY! More independence from foreign creditors! America is better off without that Chinese money! Right?
But in reality this is a huge problem. Because it’s not just China. Continue reading
The approval follows Trump signing an executive order to boost domestic mineral production.
The Bureau of Land Management has approved the Spring Valley Gold Mine project in Nevada. The project, located in Pershing County, is expected to create hundreds of jobs in the region, the agency said in a July 15 statement.
“Solidus Resources, LLC, is approved to construct, operate, and maintain an open-pit gold mine, three waste rock facilities, and a heap leach facility,” said the agency. Continue reading
Do you feel financial stress on a regular basis? If so, you are certainly not alone. As you will see below, a new survey has discovered that more than two-thirds of the entire country is feeling “anxiety and depression” due to financial stress. The cost of living is totally out of control, and it is absolutely crushing the middle class. Earlier today, we learned that the official rate of inflation has gone up again. Continue reading
Historically, gold has been seen as a more valuable investment than silver, with 24% of Americans saying gold is the strongest investment.
But that doesn’t mean silver isn’t without its benefits. While it can be seen as volatile, particularly over a short period, silver is often considered an inflation-proof option for investors looking to boost their bank accounts.
To get to the facts on silver and whether it’s a wise investment, here are 14 considerations before you add this shiny commodity to your portfolio. Continue reading
US President Dwight D. Eisenhower was absolutely terrified of inflation.
And that’s really saying something for a guy who had commanded Allied forces against the Nazis, faced down the Soviet Union during the Cold War, and overseen the dawn of the Atomic Age.
Sure, those threats might seem more serious than a 5% increase in the price of milk. But Eisenhower felt strongly that inflation was a matter of national security. Continue reading
Last month, I discussed the potential for silver to break out of a well-defined symmetrical triangle pattern, and as of Wednesday, July 2nd, the price has officially done so. Following this breakout, I am now setting a short-term price target of $39. While a 5.5% price increase may not thrill the broader investor community, it could present a profitable swing trade for option traders. Additionally, I have a long-term price target for silver that investors may find worth considering. Continue reading
Why can’t we just be objective about the economic numbers? When Joe Biden was in the White House, many Republicans (including Donald Trump) used the word “fake” to describe the economic numbers that the federal government was putting out, and as I documented extensively throughout the Biden administration, the rosy economic numbers that we were getting from the federal government certainly diverged greatly from reality.
But now that Biden is out of the White House, we are suddenly supposed to believe that the federal economic numbers that are being calculated by the exact same people as before are somehow legit? Come on. If the government was giving us “fake” economic numbers six months ago, they are still giving us “fake” economic numbers today. As I will discuss below, the same absurd “adjustments” that were being made during the Biden administration are still being made now. Continue reading
Jamie Dimon: Mob Boss
In a striking revelation during a recent conference, Jamie Dimon, the chief executive officer of JPMorgan Chase & Co., cautioned that the U.S. economy might be teetering on the edge of a downturn.
Highlighting the diminishing effects of pandemic-era government spending and monetary policy, Dimon warned that the nation’s economic stability could soon be compromised.
During a Morgan Stanley conference held on Tuesday, May 15, in Paris, Dimon stated, “I think there’s a chance real numbers will deteriorate soon.” Continue reading
