Tag: COLA

The Hidden Thief Robbing Next Year’s COLA (And More)

Via Birch Gold

The Hidden Thief Robbing the 2022 Cost of Living Adjustment

If you had dreams of retiring soon, perhaps even next year, and starting your “dream retirement” off on the right foot … you could be in for a bit of a nasty surprise.

That’s because there’s a hidden thief picking the pockets of most people’s retirement accounts.

Despite the mainstream media’s spin on just how fabulous next year’s cost-of-living adjustment (COLA) from Social Security will be. For example this dreamy USA Today article couldn’t contain its excitement:

Now that’s more like it.
Older Americans scraping by on meager increases in their Social Security checks the past decade will reap a relative windfall next year.

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70 Million American Reitrees Are About To Get Their Biggest ‘Pay-Rise’ In 39 Years

Via ZeroHedge

Thanks to The Fed’s non-transitory ‘transitory’ inflation, millions of America’s retirees are about to get the biggest pay-rise in 39 years.

Since 1975, Social Security general benefit increases have been cost-of-living adjustments or COLAs, to keep pace with The Fed’s post-Nixon inflationary pressures.

With 2020’s surge in inflation refusing to obey The Fed’s narrative, this year’s COLA will be a stunning 5.9% – the highest since 1982.

Source

What does this mean?

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Social Security’s COLA Isn’t a Raise

Via Birch Gold

Social Security COLA is not a raise

The official U.S. inflation rate remained at its 13-year high of 5.4% in July 2021. That’s an ugly number even considering it’s the Fed’s “lowest lowball inflation gauge.” You may have noticed a trend… Inflation started rising in June 2020 on the heels of the first wave of stimmies, and surged since January 2021, when Biden took office.

This is the same rising inflationary trend that Federal Reserve Chairman Powell claimed would be “transitory,” merely “a blip.” Well, recently the White House “shifted messaging” on inflation and won’t use the t-word any longer (although this change in words doesn’t reflect any change in the thinking behind them).

Honest answers are hard to find. Here’s what we know:

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