By 2020, everyone will be a billionaire, according to the National Inflation Association. You’d think they’d be happier about their prediction:
When our government creates inflation with the goal of generating higher incomes, the real incomes of Americans always decline dramatically. Inflation never creates wealth, but instead misallocates resources that would have went towards productive purposes if the free market was allowed to operate. During periods of high inflation, no matter how fast incomes rise nominally, they never keep pace with rising gold prices.
The National Inflation Association’s motto is “Preparing Americans for Hyperinflation.” They recommend investing in gold and silver mining companies and agricultural companies, because those firms tend to do well in inflationary times. As for people that don’t heed their advice? “[T]he wealth of most Americans could get wiped out during the next decade,” reads their less-than-cheerful “About” page.
The NIA is also careful to note that “we are not investment or financial advisors.” So take their words with that in mind.
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