The debt ceiling increase in 2013 has been a highly controversial topic that despite its serious implications for the US economy seems to have been deemed a necessity for securing a future for the nation. Not all financial experts agree on the move however, and some are quick to warn of serious consequences. —
Terry Sacka appeared on The Wealth Transfer show on the Christian Television Network discussing the fiscal cliff, Greece, and the U.S. Treasury Secretary's demand to increase US national debt $2.5 trillion immediately with no constraints, and how this is going to impact the 'Baby Boomer' generation.
In Terry's opening statement he explained, "We've got tremendous things facing us right this very moment with tax increases that are going to affect pretty much everyone. We have to evaluate our portfolios even if Congress acts like they're going to figure it out, they're not going to the level we need them to- you still need to make adjustments."
He went on to say "So it's vital. Baby Boomers are still coming in - 10,000 every day turn to Social Security as they are retiring."
The Baby Boomer generation has been the subject of much controversy within social commentary in the new millennium, at once thought responsible for both the rapid economic expansion that made the nation great and the global recession that threatens to consume it. Now their futures are in doubt, many are looking at investing in precious metals as a means to ensure their money is safe.
A spokesperson for Cornerstone Asset Metals explained, “The value of fifty dollars in paper money from the sixties has gone down as inflation has risen and risen over the decades. The value of fifty dollars in gold from the sixties has gone up radically ahead of inflation. Investing savings in precious metals is a way for people to guarantee their future will be safe- with social security pension contributions already underwritten for the Baby Boomer generation in countries like the UK, we have to wonder how long before such action is taken here. Gold investment cannot be underwritten.”
About Terry Sacka:
Terry is an analyst and chief strategist at Cornerstone Asset Metals, a private bullion dealer. Cornerstone specializes in helping people hedge their portfolio against inflation by guiding investors through the precious metals market to put "the people" back in charge of their wealth.
Release ID: 16405