Golden State Warriors, Social Security, Inflation, JRP0277

June 15, 2022

The Golden State Warriors are enjoying their 6th NBA Finals in 8 years and are on the cusp of their fourth championship in that timeframe. I share my early memories as a Golden State Warriors fan.

We then discuss financial planning for retirement and the shocking low savings rates in America. Is this due to a false sense of security that government will save the day? Is it a huge financial education deficit? Is it weak long-term thinking?

It’s time again to hear the Chicken Little rants of progressives that the Republicans are going to kill Social Security and Medicare. We hear this every election cycle when in reality Republicans have expanded both programs. The GOP are considering a bill to sunset all federal government programs every 5 years with the idea that they would be reaffirmed, optimized, or phased out. There is no way the GOP would cut these important programs that their senior citizen constituents depend on. It would be political suicide.

Then we discuss the Federal Reserve’s plan to increase interest rates in order to cool off the economy to fight inflation. This will lead to layoffs, bankruptcies, and further damage. Sadly, the inflation we are experiencing is a self-inflicted wound by printing and flooding the market with $6 trillion of new money. I present additional ideas that the government can enact to minimize the impact of inflation. I also offer personal recommendations for investors, businesses, and individual consumers to survive and thrive in an inflationary environment.

#inflation #socialsecurity #GoldenStateWarriors

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