At what point does a shrinking workforce stop sustaining a growing non-working population? While a definitive answer is elusive, those familiar with the problem say that by 2050 there will be 80 million of us in the United States over 65 years of age, or 200% of the present numbers. If one takes into account the disabled who are unable to work and those unwilling to work the problem is worse.
If that number sounds big it is thrown into even sharper contrast when compared with the number of workers who fall into the 18 to 64 age bracket. Although that group spans a longer time frame it will only grow 17% by the year 2050. By that time they may wish that more seniors had inquired as to how to buy gold coins.
Social Security currently gobbles up nearly a fourth (22%) of the federal budget to the tune of $773 billion. That figure is estimated to balloon and translate into much higher taxes for the poor unsuspecting youth which has motivated one celebrated investor, Stan Druckenmiller, of Duquesne Capital Management to embark on a college tour to alert the rising generation of the tax tsunami that awaits them.
When questioned by seniors as to whether or not he is instigating an intergenerational war, Mr. Druckenmiller responds, “No, that war already happened, and the kids lost. We’re just trying to recover some scraps for them.”
Thankfully, there has been no talk of putting up Soylent Green factories around the country at least that I have heard of. The corridors of Washington, well who knows what goes on behind those doors, the point is we should be able to see the consequences of kicking the can down the road and we only wonder how we will move about without tripping over so many figurative cans.
We at ITM Trading hope that when we get down the road we will all have at least one can with us that contains gold and silver coins. These precious metal coins are unlikely to self populate in a can and it is up to us to see that we have not left ourselves in the lurch. We encourage those of like mind-set to give us a call at out toll-free number, 1 888 OWN GOLD (1 888 696 4653).