I've tried to orange pill my dad, but he has the typical apathy of a gen Xer.
Discussion
Hey! Guess I'm not typical... Ask your dad when the last time money had real silver in it? Ask him when the dollar became 100% fiat. If anyone should be solid orange pilled its Gen X... I'm Gen X born in 1970.
#austrianeconomics
#btc
#bitcoin maxi
#realmoney
#HonestWeightsAndMeasures
His take is: the only thing he has in the banks is debt, so who cares if they fail? He's in his 50s and has no retirement fund, just a mortgage and six figure student loan debt.
Hope he like dog food. Sorry that he hasn't preplanned. While debt will be inflated away also too will good and services become more expensive so food and such will be hard to come by. Many in our age group have little to no savings because the government has made savings worthless. Luckily I found out about the Infinite Banking Concept and keep my savings in a place that has stood the test of time.
I had the same problem, he thinks everything about it it’s a scam. He just trusts in dollars.
Yea.. Kind of difficult to get through. The boomers/older gen did pretty much build the system and benefited from it.
But I wonder how they think the sovereign debt burden of >120% (US) will get resolved. This question might trigger a good discussion.
Because your dad might realize that his pension is in bonds too which will lose purchasing power when they implement the financial repression playbook (aka. Inflate away the debt via real negative rates).
Everyone has an "entry" point to the topic.. Just hard to find it. Good luck 👍😊
#plebchain
He has no pension. He's counting on social security, and I keep telling him the SS fund is probably going to be bankrupt by the time he retires. He's going to end up living with me some day.
Social security will be there, just what it will purchase will be the question. The government runs ssi so they can just print more money. How's that worked out. Secondly many take ssi way to early and end up outliving their money. I'm staring down ssi as my wife is 5 years older, but we are trying to figure out the best time to take it. Luckily we have a decent income.
If all you have is ssi you're screwed in my opinion. Hope you have room for your dad, as it sounds like he'll be moving in. Unless you educate him otherwise.