$89 Trillion. That’s how much our debt will be by 2029 according to Forbes.
Real inflation rate is estimated to be upwards of 10%.
We have never seen this pace before. Not even at our worst times.
Currently, our debt is north of $28 Trillion. That is an increase of nearly $5 trillion from the start of Covid19 shut down towards the end of March 2021.
Just last week, Washington announced that in addition to the infrastructure bill with a price tag close to $2 trillion, it will also lead a global infrastructure project that will compete with China’s Belt and Road initiative.
This comes with a price tag of a whopping $40+ Trillion.
If we keep the estimated spend to the basic, the national debt will approach $89 trillion by 2029.
This would put the country’s debt-to-GDP ratio at 277%, surpassing Japan’s current 272% debt-to-GDP ratio.
All economic recovery we are supposedly starting to make will not be worth much because of the burgeoning debt.
I don’t know how we got here, honestly. We used to have so much control over our spending which is why we have become the world’s reserve currency.
That is despite World War I, the Great Depression, and World War II.
Do you know when everything went downhill?
When Nixon abandoned the gold standard in 1971. Nothing stopped us anymore. There was no absolute measure of growth and wealth. Congress was free to spend, or rather overspend.
And spend they did…
Apparently, they are not done.
Think about what that means – gas, food, rent, medicines, and just about everything necessary for our basic survival is going up in price.
In the meantime, no real effort is being done to increase our Gross Domestic Product.
Soon enough, the $1 Million you have tucked away for retirement will not even last you a year! Yes, you worked hard all your life, made all the sacrifices necessary to ensure you have a comfortable retirement only for the government to mess it all up.
Based on an inflation rate of 10.00 %, the value of $1,000,000.00 is going
to be reduced to $385,543.29 in 10 years.
I guess you just have to live in poverty when you retire.
You can avoid it by storing the value of your money and you need to do it fast!
So far, no other asset has been able to store the value of your investment other than gold. It’s like a dam holding inflation back. It’s the last line of unbreakable defense.
Noble Gold specializes in storing the value of your wealth through GoldIRAs – so they’re a natural choice. It will take no more than 5 minutes to set up your account!
Many middle-class Americans will become “poor” by the time they retire because of inflation and the national debt. Don’t let that happen to you.