- 1,953
Between now and June will many people run to fixed Indexed products? If so how do the informed think what would happen within the insurance industry if Congress defaults on debts?
All this talk about the debt ceiling.
- Thread starter Cornelius
- Start date
The general public does not understand economic theory and rarely bothers to research political statements.
Any time DC get's close to the debt ceiling they vote to raise it and simply print more money so they can pay the bills. Threats of spending cuts to social programs either never materialize or are pushed out so far in the future that, when implemented, is no longer newsworthy.
Reductions in funding for Medicare and SS are inflammatory and are tossed about to politicize and justify "saving" the country from defaulting on their debts. While changes to these programs often are implemented in the future by then they are no longer newsworthy.
SS benefits have not always been taxed but they are now. Prior to 1984 benefits were not taxed but once implemented it has remained.
IRMAA did not exist until 2007.
I find it odd that programs for folks who are mostly retired and "living on a fixed income" undergo changes that "penalize" those who worked and were taxed for years to fund these programs.
As for your question, no doubt insurance carriers and agents will find a way to convince folks that they need those products more than ever.
FWIW it seems that I am hearing more ads that push gold and other precious metals as a "safe haven" to protect assets against inflation and financial collapse.
Any time DC get's close to the debt ceiling they vote to raise it and simply print more money so they can pay the bills. Threats of spending cuts to social programs either never materialize or are pushed out so far in the future that, when implemented, is no longer newsworthy.
Reductions in funding for Medicare and SS are inflammatory and are tossed about to politicize and justify "saving" the country from defaulting on their debts. While changes to these programs often are implemented in the future by then they are no longer newsworthy.
SS benefits have not always been taxed but they are now. Prior to 1984 benefits were not taxed but once implemented it has remained.
IRMAA did not exist until 2007.
I find it odd that programs for folks who are mostly retired and "living on a fixed income" undergo changes that "penalize" those who worked and were taxed for years to fund these programs.
As for your question, no doubt insurance carriers and agents will find a way to convince folks that they need those products more than ever.
FWIW it seems that I am hearing more ads that push gold and other precious metals as a "safe haven" to protect assets against inflation and financial collapse.
- 289
The average person has no idea what goes on in the economy, and the forces that control its cyclical nature. Just like everything we know, most events run in cycles, annual seasons, sun-rise/sun-set, high tide/low tide, life and death, etc. with highs and lows that include "boom and bust" economic cycles.
I found the documentary "The Money Masters" very interesting and educational. It explains how currency and mediums of exchange were formed, who really is controlling or attempting to steer this new world order and the forces behind what impacts and shapes economies in general. Evidence the annual mega-rich get-together at Davos, where "higher thinkers" due to their mega-wealth think they know best and offer their view on how the world needs to change, lest we doom ourselves based on half-truths or unfounded science.
Many of us who have been swallowed by this political sham game, will claim this is only a politically motivated historical point of view. Politics, unfortunately is the smoke screen we have been fed to cover up what really goes on. Maybe I was less enlightened than most, but it revealed who and how controls the economy and the money, and it's not the politicians who have been bought and seduced by this money (power).
Any wonder then that the rise of crypto, as store of value and medium of exchange would be upsetting this grip hold that has existed throughout more modern time.
I found the documentary "The Money Masters" very interesting and educational. It explains how currency and mediums of exchange were formed, who really is controlling or attempting to steer this new world order and the forces behind what impacts and shapes economies in general. Evidence the annual mega-rich get-together at Davos, where "higher thinkers" due to their mega-wealth think they know best and offer their view on how the world needs to change, lest we doom ourselves based on half-truths or unfounded science.
Many of us who have been swallowed by this political sham game, will claim this is only a politically motivated historical point of view. Politics, unfortunately is the smoke screen we have been fed to cover up what really goes on. Maybe I was less enlightened than most, but it revealed who and how controls the economy and the money, and it's not the politicians who have been bought and seduced by this money (power).
Any wonder then that the rise of crypto, as store of value and medium of exchange would be upsetting this grip hold that has existed throughout more modern time.
- 4,136
Under a true economic collapse hard assets will protect against hyperinflation, like with Venezuela. The US hitting that type of economic collapse may happen, but not before a number of different countries first.
Precious metals aren't really investments, imo. They're more like a savings account in case shit happens.
So crypto only works if there's internet. My portfolio, right now, is overweighted in crypto since we just went through the bear market cycle and I bought because it was highly discounted. When the bull market starts to pick up at the end into next year (and 2025), I'll be selling about 80% of what I own and diversifying and prepping for the next bear.
The point is Bitcoin, and select crypto networks, are long term holds.. but most are trash. So gold and silver will still have a place as a safe haven asset, but it'll be less of my overall portfolio.
- 29,467
How's about no more foreign aid until we're out of debt? Some of the nonsense the crooks spend money on is ridiculous!!! Why the hell should we borrow money to send to Pakistan for transgender studies? Cutting out crap like that's a good place to start on "the budget". There's a whole long list that Rand Paul puts out every year.
[EXTERNAL LINK] - Dr. Rand Paul Releases 2022 ‘Festivus’ Report on Government Waste | Senator Rand Paul
[EXTERNAL LINK] - Dr. Rand Paul Releases 2022 ‘Festivus’ Report on Government Waste | Senator Rand Paul
- 29,467
Don't want to watch a 3 1/2 hour video right now, but I watched a few minutes and I think this article is shorter and says the same thing. I think Lincoln and Kennedy were killed because they wanted no part of the Federal Reserve. It needs to go bye bye.
- 5,285
I see all my hard asset investments as a hedge, and generally view my commodities as solely a hedge, so I would agree with you.
I could make an argument that lithium or cobalt could be a wise investment with this move to EV's, though I haven't myself.
Would you call that an investment, or still no?
No chance of that happening. We send 4 billion dollars of aid to Israel which is the largest recipient. Cutting that is politically not possible. Zero chance.The other ones are much smaller and it wont make any difference. We also give aid which is conditional in them opening their markets to US products. Cutting US aid means immediate US job losses at Boeing and more job openings at Airbus. No one is voting for that.
- 4,136
Well, Bitcoin is a commodity that I consider an investment because of the drastic price appreciation. I should have clarified, as I really was talking about gold and silver, which swings, but not massive appreciation.
Those are insurance, for me, in case governments or banks freeze my accounts due to economic conditions, and accident, or I break bad
- 5,285
lolz
