2023: Largest SS COLA In 41 Years Expected As Well As Medicare Premium Cut

Even if a higher Cola is given, it usually means nothing to those in a very low income bracket. The government raises the Cola, then lowers the food stamps received and raises their rent. Lucky if it even comes out even.:sneaky:
 

StarSong said:
I didn't miss your point and am well aware of what fiat currency is. No need to explain. Our currency has no intrinsic value nor is it backed by gold or silver. And it hasn't been since 1971.

From a practical standpoint, there is only so much gold, silver, platinum, precious gems, valuable artwork, guns, bullets and whiskey one can afford to accumulate and safely store in anticipation of the crash you're suggesting. Not to mention safely use when others around might be starving but have plenty of guns and ammo themselves.

Beginning in 1964, when the US discontinued minting silver coins, my father believed the US dollar would crash a la Germany post WWI. He died in 2017 without that ever happening. Inflation, sure, but the US dollar becoming a valueless currency? Nope.

Certain fears occasionally keep me up at night. This isn't one of them.
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I lose no sleep over the coming crash either. If and when it happens, woe to those who did not prepare, at the least, mentally for the insanity to follow.

I raised my 4 children to be aware that #1, government is not their friend, local or national. Taught them all to have skills for fighting, with fists, feet and weapons. My daughter when she was 6 paid careful attention on how to properly throw a punch, she often dropped her 3 older brothers! They weren't in tune with hitting her back because besides the lessons in battle I passed to them, I also taught them that females, in my realm, are just about sacred and hitting them is a No-No.

All the kids learned to shoot very well, hunt, and get whatever they had taken with bow, gun, trap or hook ready for the table. They are raising the 7 grandkids as they were raised, and that is to be prepared for whatever hardships they may encounter in life.

Silver 1 ounce bullion coins would be my top choice for potential barter items if the bottom falls out, along with most any ammunition.

Oh and T.P. may be a good trade item taboot! Water and certain leaf species will suffice, but like with so much in life, practical experience works best with both of those. Dirty leaves can really put a hitch in yer giddy-up...so if you decide to practice, wash them leaves 1st and let them air dry...jes' sayin'.
 
So your kids are ready for dystopia. Are they also ready if it doesn't happen?
 

Pepper said:
So your kids are ready for dystopia. Are they also ready if it doesn't happen?
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Better to be ready for anything. They all do well financially, so, they would rather not go to the mattresses. But if it comes to pass they will have a better chance to survive the S-Hitting The Fan, and that makes me not so worried about them all. Worst thing in life when you get older is worrying about your children, yeah?
 
Harry Le Hermit said:
I would assume you already have an extensive collection. If not, what is your preferred method of buying that collection?
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Harry, what collection? Still, this morning silver Spot Price was just a bit north of $21 an ounce. Provident Metals is a pretty good and fair bunch, although right now their "over-spot premium" is a bit high. If price slides below $20 per ounce with a $3 per oz. Premium it may be considered a good buy in my estimation, but I doubt if it gets under $20 that the premium will be that low.

Just took a look at Spot Price and it is $20.99 at the moment, without a premium given. If it drops below $20 I don't think it will stay there for long, nor do I think it will go much lower than that right now. The price is being heavily manipulated by the huge silver lots holding pro's.

Personally, I don't view 1 oz. silver bullion coins as an investment, I view it as a hedge against starvation! Gold, unless you have 1 gram bars is not a hedge against starvation, as making "change" for a 1 ounce coin used to buy a can of Beanies N' Weenies won't be practical.
 
Harry Le Hermit said:
We all will, but it doesn't take effect until January 2023, and it only brings us back to the theoretical purchasing power of the July ~ September timeframe, which does not recoup any loss of purchasing power for the previous 12 months.

As to Medicare premiums, we should be reminded the base premium in 2021 was $148.50 and the 2022 premium was forecast at $158 AND then the dementia drug pushed it to $170.10.

While I don't expect a rise in premiums for 2023, I do not expect much lowering of premium. Still that would be better than last year's 5.9% S.S. increase and having $21.60 being pulled away.
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"We all will, but it doesn't take effect until January 2023." Yes, I know. The COLAS always show up in our January payments.
"While I don't expect a rise in premiums for 2023, I do not expect much lowering of premium." This is pretty much what I'm thinking.
 
Chueymorales said:
Personally, I don't view 1 oz. silver bullion coins as an investment, I view it as a hedge against starvation! Gold, unless you have 1 gram bars is not a hedge against starvation, as making "change" for a 1 ounce coin used to buy a can of Beanies N' Weenies won't be practical.
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You are assuming the government won't confiscate it. You should buy it up, as it is as cheap as it's been in a couple of years. 20% cheaper than it was in March. Come to think of it, in today's inflation adjusted dollars, it was over $60, back about 10 years ago. Besides, if I had food and you wanted to buy some with silver coins... aren't you presuming I want silver coins? What if I don't?
 
Harry Le Hermit said:
Speaking of b***s..., are you going to buy up one of those silver futures contracts you were quoting, which are for 5,000 troy ounces each?

:ROFLMAO:
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Anything being held in less than 500 pounds of silver bullion is not worth bothering with. Storage space is the biggest issue though.

I have a friend who soaked many thousands into silver bars back around '96. He left it with the broker who sold it to him to "store" it.

Every year since they send him a bill FOR "storing" it. Last year he asked to have it delivered to him, and they said, sure no problem, that will cost you X per ounce! It was too much for him to want to pay. And as I told my friend, they don't have YOUR silver stored, so you are paying to store something they do not have in their possession....but it is there on paper!

Cracked me up. It is still sitting there ON PAPER racking up storage fees annually. Point is? Immediately take delivery of your purchased silver, or gold or whatever----and you can buy copper bullion coins too, ya know....they are cheap!!
 
Chueymorales said:
Anything being held in less than 500 pounds of silver bullion is not worth bothering with. Storage space is the biggest issue though.
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Huh!!
Personally, I don't view 1 oz. silver bullion coins as an investment, I view it as a hedge against starvation!
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Make up your mind. In my humble opinion, you should put your money, or whatever medium of exchange, where your mouth is. Just let me know what medium of value you used to purchase the silver.
 
Chueymorales said:
Harry, what collection? Still, this morning silver Spot Price was just a bit north of $21 an ounce. Provident Metals is a pretty good and fair bunch, although right now their "over-spot premium" is a bit high. If price slides below $20 per ounce with a $3 per oz. Premium it may be considered a good buy in my estimation, but I doubt if it gets under $20 that the premium will be that low.

Just took a look at Spot Price and it is $20.99 at the moment, without a premium given. If it drops below $20 I don't think it will stay there for long, nor do I think it will go much lower than that right now. The price is being heavily manipulated by the huge silver lots holding pro's.

Personally, I don't view 1 oz. silver bullion coins as an investment, I view it as a hedge against starvation! Gold, unless you have 1 gram bars is not a hedge against starvation, as making "change" for a 1 ounce coin used to buy a can of Beanies N' Weenies won't be practical.
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When people are starving and homeless, if they can't eat it, drink it, wear it, shoot with it or live in it, it will be of little value to them. Silver and gold included.

Grocers and farmers will feed their own first and silver coins will be meaningless to them. Maybe they'd trade for some labor, medicine, fertilizer or gasoline.

There would be massive societal breakdowns in the kind of dystopia you're suggesting - and it would likely be worldwide, or nearly so. Dog eat dog, literally.

Happy to say, I don't see that happening in the very near future. However, if humans don't get our arms around climate change our children and grands may experience it. I predict that precious metals will be a lot less coveted than 25 lbs of flour.
 
Harry Le Hermit said:
Huh!!

Make up your mind. In my humble opinion, you should put your money, or whatever medium of exchange, where your mouth is. Just let me know what medium of value you used to purchase the silver.
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Golly gee willikers Harry, why in the world is my personal dealings any of your business?
 
StarSong said:
When people are starving and homeless, if they can't eat it, drink it, wear it, shoot with it or live in it, it will be of little value to them. Silver and gold included.

Grocers and farmers will feed their own first and silver coins will be meaningless to them. Maybe they'd trade for some labor, medicine, fertilizer or gasoline.

There would be massive societal breakdowns in the kind of dystopia you're suggesting - and it would likely be worldwide, or nearly so. Dog eat dog, literally.

Happy to say, I don't see that happening in the very near future. However, if humans don't get our arms around climate change our children and grands may experience it. I predict that precious metals will be a lot less coveted than 25 lbs of flour.
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Los Angeles suburbs? Near as I figger you cannot afford the mental stress of knowing what is coming at you IF things do go sideways. Keep up the rosey outlook! And too, throw kisses and flowers at any problems that may come your way, that'll do the trick.

By the way, I grew up in The San Gabriel Valley---got home from Vietnam Iate '71, and kept right on going east. Trying to hold your own in a suburban war will not work out well for all who may see the writing on the wall but refuse to pay heed, soooooo...good luck to ya! And rest assured, The S-Storm is coming to big cities across the country, first.
 
The s-storm is coming, so invest in bouillon!
2017-High-Quality-4G-Halal-Bouillon-Cube-Chicken-Chicken-Bouillon-Cubes-Seasoning-Cubes.jpg

You can make soup out of it!
 
Chueymorales said:
Los Angeles suburbs? Near as I figger you cannot afford the mental stress of knowing what is coming at you IF things do go sideways. Keep up the rosey outlook! And too, throw kisses and flowers at any problems that may come your way, that'll do the trick.

By the way, I grew up in The San Gabriel Valley---got home from Vietnam Iate '71, and kept right on going east. Trying to hold your own in a suburban war will not work out well for all who may see the writing on the wall but refuse to pay heed, soooooo...good luck to ya! And rest assured, The S-Storm is coming to big cities across the country, first.
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Do you really think you're the first doomsday prepper most of us have come across? Or even the most dedicated to a twisted, dystopian vision that wide swaths of humanity might be wiped out if some kind of suburban war breaks out?

I have no interest in further engagement with you. Despite the water shortage in Los Angeles, I feel the need for a cleansing shower...

Ignore.

Chueymorales said:
By the way, I grew up in The San Gabriel Valley---got home from Vietnam Iate '71, and kept right on going east.
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p.s. On behalf of all Southern California residents, let me say, "Whew!"
 
StarSong said:
Do you really think you're the first doomsday prepper most of us have come across? Or even the most dedicated to a twisted, dystopian vision that wide swaths of humanity might be wiped out if some kind of suburban war breaks out?

I have no interest in further engagement with you. Despite the water shortage in Los Angeles, I feel the need for a cleansing shower...

Ignore.


p.s. On behalf of all Southern California residents, let me say, "Whew!"
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Evidently folks who do not agree with you and Harry Le Helmet need to be ignored. Color me crushed.
 
Harry Le Hermit said:
The forecasts still suggest 8.7%~9.0% 3rd quarter average. Those numbers are derived from another big jump for June, peaking in July and then dropping thereafter. It's fun to speculate, but we won't know the official rate until October the 13th.
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Oops! Just as the first month of the 3rd quarter is beginning, that peaking in July is becoming a fading memory, as we may be past peak already.
 
Last year I was told Bitcoin is a great store of value for these inflationary time. Alas, I never bought any, so I am still losing money to inflation. But, I may soon buy some Scotch Whiskey being stored in Scotland. When the barrels are opened in 10-15 years, the profits will be immense.

Thankfully, I am ready for when global cooling devastates the food supply. But, we may be find our border rushed by Canadians who want to get away from the extreme cold weather.
 
Brookswood said:
Last year I was told Bitcoin is a great store of value for these inflationary time. Alas, I never bought any, so I am still losing money to inflation. But, I may soon buy some Scotch Whiskey being stored in Scotland. When the barrels are opened in 10-15 years, the profits will be immense.

Thankfully, I am ready for when global cooling devastates the food supply. But, we may be find our border rushed by Canadians who want to get away from the extreme cold weather.
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Assuming this entire post was meant as sarcasm.
 
StarSong said:
When people are starving and homeless, if they can't eat it, drink it, wear it, shoot with it or live in it, it will be of little value to them. Silver and gold included.

Grocers and farmers will feed their own first and silver coins will be meaningless to them. Maybe they'd trade for some labor, medicine, fertilizer or gasoline.

There would be massive societal breakdowns in the kind of dystopia you're suggesting - and it would likely be worldwide, or nearly so. Dog eat dog, literally.

Happy to say, I don't see that happening in the very near future. However, if humans don't get our arms around climate change our children and grands may experience it. I predict that precious metals will be a lot less coveted than 25 lbs of flour.
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Now there's a logical reply. I would rather have 1000 cans of beans than 1000 ounces of precious metals, and also good water supply, or maybe 1000 gal. of fuel and a tractor to put it in. Gold, silver, diamonds, paper money, all will be worthless, except to throw at people. Even ammunition, how much do you need? If the masses attack your home once you exhaust your 15 pre loaded magazines you're not going to be able to reload fast enough to hold them off.
 
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