January 10, 2011 – If you are young, gold bullion investing offers your best shot at having a long and healthy retirement. Those over the age of 65 are already being quietly squeezed by the government while it continues to underwrite Wall Street’s excesses. And 78 million baby boomers are standing at the door with their hands out.
Baby boomers were lulled into a false sense of security by a government that for 30 years has used statistical gimmicks to cover up fiscal irresponsibility and obscure the true state of the economy. Its dogged insistence on holding down interest rates pumped billions into the coffers of the ultra wealthy at the expense of the nations elderly and those now reaching retirement age. According www.Shadowstats.com the prices for the most necessary products purchased by people over 65 has doubled since 2000, while Social Security payments rose only 27%. Nearly half of that population is living on 40% less than the national median income.
The housing bubble, which was a direct result of government fiscal policy, hit baby boomers particularly hard because much of their wealth is tied up in their homes. Not only are a great many of them depending of Social Security and Medicare to get them through retirement, vast numbers have been forced into the system early by the unemployment crisis.
Medicare is in even deeper trouble than Social Security, currently underfunded by $34 trillion according to Fortune Magazine’s Geoff Colvin. Far longer life expectancy and skyrocketing medical expenses have made the current program unsustainable, and unless Washington takes drastic and immediate action – extremely unlikely from that bunch – that vital safety net will collapse.
The good news is that neither the government nor Wall Street can fudge the value of gold. Whatever becomes of the entitlement programs, gold bullion investment can give you real social security.
