Captain Capitalism: Why Gen X Just Might See a Social Security Check:
And a non-hyper-inflated-away one at that!
Because, yes, while the United States’ economic fundamentals have been doing nothing but deteriorating over our entire lives.
And yes, nobody in their right mind would lend money to an individual with the US government’s finances
There are three main reasons that I am increasingly optimistic that we Gen Xer’s will receive social security AND those checks will still have purchasing power.
However, we first need to understand what threatens social security. It’s not that the US government will be unable to print SS checks off and the worthless pieces of paper to finance them thereafter. That has never been called into question. It’s whether those pieces of paper will have any purchasing power left to them. The federal government’s debt now hovers around 105% GDP, we run deficits and not surpluses, and to finance all this the federal government, since Obama alone, has doubled the M2 money supply and tripled the M1 money supply.. Normally, these hallmark traits of insolvency would render a traditional borrower’s currency worthless. Lenders would stop extending credit, and the entity would go bankrupt. But the US is not a traditional borrower, nor is this a traditional lending market. And it is here there are three reasons I predict Gen X will get as social security check…and should be incredibly grateful for it!
What do you think? Will those of us born 1960 and over seen a non-hyper-inflated social security check?