- Inflation continues to plague everyday Americans
- Astronomical debt and a bursting ‘everything bubble’ signal extreme volatility
- Experts are flocking to physical precious metals to protect the value of portfolios
Economic System Positioned for Major Disruption in 2024
The aftershocks of the Biden administration’s pandemic spending spree are still shaking the foundations of the economy. Even in the face of recent drops, inflation is still punishing consumers and businesses. And the debt accrued from the near bottomless printing of money is undermining the stability of the financial system.
Inflation, having hit a 40-year high last year of 9.1%, is still above the Fed’s 2% target. The cumulative effects of inflation are straining Americans to a breaking point. The cost of groceries is up 25% since January 2020. According to a recent holiday shopping survey, one in three Americans are foregoing giving gifts this year. And one in four still have holiday debt from last year they are paying off. The survey showed that almost half of Americans are cutting back on charitable donations as well.
President Biden is touting the success of his ‘Bidenomics’. But that success doesn’t translate down to the personal level. Credit card debt is at record highs and personal savings are at a new low. With stimulus payments all but spent, 33% of Americans have less than a hundred dollars in savings.
Record government debt, overinflated stock prices, and a simmering bank crisis have experts predicting the high probability of a major economic disruption. The stability of the financial system is coming into question. This concern is reflected in gold prices hitting all-time-highs as people seek safe haven assets to protect the value of their portfolios. Gold is expected to continue its upward trajectory in 2024, making now an ideal time to investigate the benefits of a Gold IRA.
Contact us today at 800-462-0071 to learn how you can protect your funds with precious metals or a Gold IRA.