ROBBING RETIREES: Financial expert: Government-fueled inflation is killing retirements
Former Reagan economic adviser Art Laffer slams Democrats’ stimulus spending which is exacerbating the inflation crisis.
Dr. David Phelps argues in his latest book, "Inflation: The Silent Retirement Killer," that decades of unchecked government spending coupled with the actions of themade today's inflation inevitable, and warns that investors must adjust and prepare for the long haul. , Phelps told FOX Business the actual hit to Americans' wallets is likely twice that. What's worse, he says, is that he sees inflation sticking around because with federal spending run amok, there is little the central bank can do to rein it in.
Phelps expects the U.S. economy to be anemic for the next decade or so, which he says changes the picture for many of the people relying entirely on a 401, a model which relies on the conventional idea that the economy is always going to grow.
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