In recognition of the Government’s debasement of the U.S. doller, some states are begining to realize that precious metals are not investments, but act as real money: IT BEGINS…. Idaho & Arizona Pass Bills To Remove “Capital Gains Taxes” On Gold & Silver (SRSrocco Report)
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Reader H.L. sent in the link to this map that renames American States with the name of the country most closely matching their GDPs. It’s interesting to realize that the U.S. economy is so large that individual states have GDPs larger than many countries.
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Private pension plans, state and teacher pension plans, union pension plans, and of course, Social Security are all in jeopardy due to unrealistic earnings expectation, poor management of some, too many people retiring and living much longer, and other various factors. The 3 legged retirement stool of a generation or two past (Soc. Sec., Company pension plan and personal retirement savings), is gone! It is up to the individual to save and invest and hope that their investments hold up, plus, get out of all debt well before retirement. No Student Loans, No Credit Card Debt and definitely a paid up home.
The Government Pension Guarantee Fund is almost broke! For most Americans, it means living below your means, like our Grand Parents lived during the Great Depression! This does not mean not enjoying life, but does mean smarter spending, fewer “wants”, and concentrating on needs. Also, as more people are thrown into poverty and various welfare programs are stretched beyond their limits, some desperate people will turn to crime to survive. Protecting the home and self will become even more critical! The old Boy Scout motto “be prepared”, should be our mantra! – H.L.
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Mizuho on subprime auto lending conditions. Many have stopped paying on their car loans as they struggle to make ends meet. – G.P.
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