Dire Warning On Pension Crisis

Above, 2022 silver Canadian Maple Leaf coins. Photo by Armand Vaquer.

My decision to buy silver was based on the high inflation rate (Bidenflation, if you will) that's eating away the dollar's purchasing power.

Precious metals (such as gold and silver) have been stable and even risen in value. The current silver spot price (according to SD Bullion) is $23.93/ounce.

One investing expert has issued a dire warning about the "current pension crisis".

From Yahoo Finance:

Between the plunging markets and soaring inflation, 2022 wasn’t an easy year for retirees — or those nearing retirement. But according to Rich Dad Poor Dad author Robert Kiyosaki, this demographic could be facing another crisis.

Kiyosaki compared U.S. pensions to a bubble waiting to burst, calling them the “next global Lehman,” referring to the downfall of investment bank Lehman Brothers.

Lehman Brothers had assets of $691 billion when it filed for bankruptcy in September 2008, marking the largest corporate bankruptcy in U.S. history. And currently, U.S. state and local pension plans face an estimated $1.4 trillion shortfall.

So what should investors do in the face of an upcoming retirement crisis?

“People who own gold, silver, Bitcoin will get richer when Fed, Treasury, Wall Street pivot [and] print trillions of fake dollars,” Kiyosaki says.

“Fake money savers will be biggest losers. Don’t be a loser.”

Let’s take a closer look at these suggestions — and why you might want to take them seriously. 

Gold and silver

Precious metals — particularly gold and silver — have been a popular hedge against inflation and uncertainty. They can’t be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world.

Kiyosaki has long been a fan of gold — he first purchased the yellow metal in 1972.

“I’m not buying gold because I like gold, I’m buying gold because I don’t trust the Fed,” he said in an interview last year.

Kiyosaki likes silver, too. In fact, he recently tweeted “Silver best investment in Oct 2022” and “Everyone can afford $20 silver.”

To be sure, precious metals aren’t shooting through the roof. But they’ve demonstrated their resilience in this broad market selloff: the price of gold is down about 2% in 2022, while silver is up 1.2%.

While there are many ways to gain exposure to gold and silver, Kiyosaki prefers to just buy the metal directly. Earlier this year, he tweeted that he only wants “real gold or silver coins” and not ETFs.

The author also called silver “a bargain” recently. So it might be time to visit your local bullion shop.

To read more, go here.

Fauci's Pension

Above, Dr. Anthony Fauci.

A few minutes ago, I spotted this on Twitter:

I don't know about you, but I find this totally obscene! How many years was he on the federal payroll?

Democrats Saddled California With a $1.3 Trillion Debt

The Looney Left Report

The loony California one-party state government (of, by and for the Democrat Party) has saddled the state's taxpayers with an enormous debt.

Much of this is from the giveaways the Democrats handed the public employee unions (their buddies) with over-the-top pensions and other benefits.

The California Policy Center reported:\

We estimate that California state and local governments owe $1.3 trillion as of June 30, 2015. Our analysis is based on a review of federal, state and local financial disclosures. The total includes bonds, loans and other debt instruments as well as unfunded pension and other post-employment benefits promised to public sector employees. Our estimate of California government debt represents about 52% of California’s Gross State Product of $2.48 trillion. When added to the state’s share of the national debt, we find that California taxpayers are shouldering debt burdens on a par with residents of peripheral Eurozone states. 

Not included are billions of dollars in deferred maintenance and upgrades to California’s infrastructure. To the extent California’s government has not maintained investment in infrastructure maintenance and upgrades to keep up with normal wear and to keep pace with an expanding population, it has passed this cost on to future generations who will have to issue additional debt to pay for this expense. 

This is an update of a 2013 California Policy Center study entitled “Calculating California’s Total State and Local Government Debt.” That study reported total debt between $848 billion and $1.1 trillion. While we retain confidence in the findings of this earlier analysis, our new estimate incorporates a more comprehensive array of data sources and updated methodologies.

I am so glad that I left Commiefornia. If a state official claims there's a budget surplus, they're lying through their teeth. California voters stupidly keep re-electing these crooks.

To read more, go here.