It really isn't difficult to find things to write about! Especially when the economics of a once great nation have been emaciated, plundered, and bankrupted. Do you realize that every man, woman, and child in America, as of today, has as a personal part of the national debt close to $117,000? Do you realize that the Obama-sponsored D.C. Gang, has made every sorry, reckless, stupid bank whole ― with your grandchildren's money? No matter how dumb their loans were, no matter how idiotic Freddie and Fanny are, and no matter how ludicrous AIG's well paid stooges are, they will be made whole, thanks to the forthcoming hyperinflation.
Do you have a slight idea of how many millions of retirement accounts, pension funds, and charities have been destroyed because of the Barney Franks of D.C.? I find it incomprehensible to witness that a stock market can go up 497 points, three days after another 20 banks went under, and every conceivable thing which can go wrong has gone wrong. I am astonished at the credulity and unabashed total economic illiteracy of the American and even the world's public. We're headed for hyperinflation, with prices of everything going through the roof, and America is buying top stocks rather than gold and silver? Unbelievable. Millions of offices, stores, and shops are empty throughout America, thanks to bankruptcies. Millions of homes are empty, being foreclosed, in some cases brutally vandalized, and people buy top stocks, rather than gold and silver?
Remember Stott's Law? "The more of anything there is, the less they will be worth." This is true with houses, cars, dollars, top stocks, government and bureaucracy. Millions of new shares of stock are issued each week, and government is growing like a weed. There's very little gold and silver on earth, so the law will never apply to them. They'll never go to zero.
State governments are broke, county, city, and town governments are suffering from a lack of sales and property taxes, which pay for public trash removal, snow plowing, police and fire departments; and people are buying top stocks? America's travails have ventured around the world. Not that the Brits don't have a housing bubble, and the French too, or other nations also, but we seemed to have triggered it. There are trillions of derivatives still out there. It isn't all over at all. This is just the beginning, my friend.
The D.C. Gang supports the automakers, while the auto dealerships by the dozens go broke. Who will sell the cars if the dealers are gone? Used car lots are chock full, and no one is buying them. Massive business failures are around the corner, and people are buying top stocks? If there ever was a bear market bounce, this is it. If there ever was a rally with no logical reason to support it, this is it. Many many shopping centers and malls are on the skids, their mortgages are in default, and not being helped by vacant stores. I do know that thousands of ex-Circuit City and other big box stores are not free and clear, and the owners of them are in deep trouble with no rent coming in.
Locally, there are two sand and gravel companies. One of them is shut down totally, and the other is hanging on by a thread. Locally, there are lots and lots of vacant stores, and this isn't a manufacturing town. My town is a farm town, has 17,000 people in it, and there are lots of vacant stores which weren't vacant a year ago. All localities are in trouble. Silverton, Colorado, with 450 people in it, depends on tourism since the mines were shut down by the EPA and MSHA. They're dreading this summer's business, and people are buying top stocks?
We're headed directly into socialism with a capital "S" and that results in communism in far too many cases. When Hitler and Castro came to power, they were regaled as saviors and heroes. The Ruskies still idolize Stalin, who murdered 30 million. In South and central America, the socialists are gaining ground, and with voter approval. When you get in bed with government, usually by the volunteerism of the vote, you are going to get raped. America has gotten into bed with, as Rush calls him TOTUS (Teleprompter of the US), and we are getting screwed with our own smiling faces. Would I opt to leave America? Hell no, because as far as the Latin nations are concerned, one of their most common shouts have always been "Revolution!" Governments come and go down south, I am afraid. Who would have ever thought that Iceland could go bankrupt because of AAA rated securities?
Want to short the dollar? Buy gold and silver which are the enemies of paper scrip. Want to be safe? Get out of the big cities. It is so sad. Grievously sad about what's happening to America and hundreds of millions of its citizens. We're being over run with illegals from Mexico who won't learn English, and think we're supposed to support them. We've elected a bozo who has about as much true love for America as does any pip squeak, lusting for power, politico. Our currency is headed south with all deliberate speed, helped along by Democrats and a few Republicans. Our guns are threatened, and with every day that dawns, a new little bureaucracy is formed. A popular talk show host's wife read the 600-page Stimulus Bill and was appalled at its contents. According to her, the bill is full of giveaways with a separate little bureaucracy to oversee each handout.
The plain fact of the matter is that with a $3.6 TRILLION deficit, and long term obligated to pay debts of $75 TRILLION, the debt cannot be paid, any more than could the German debt be paid after WW I, other than with printing press money. Will dollars be used as insulation or as a method to start fires eventually? How can it be avoided? If anyone has even a smidgen of a way this can be avoided, please let me know. Is there any other way to protect ones self from hyperinflation, other than to get out of the currency that is being hyperinflated, and into something tangible? The king dollar has no clothes, people are beginning to see the truth of it, and the laughter has begun in the form of escaping from them.
Some days it's just a matter of cutting and pasting from my inbox. A couple of Shooters do all the heavy lifting today…
"Your column is a little bit like the scene in the movie 'Liar Liar' where Jim Carey objects to some statement in court on the grounds that it is devastating to his case... Very depressing and I understand the urge to dismiss the facts, but really you do so at your own peril.
"Your newsletter is somewhat US-centric, but in some respects it is universal. I live in South Africa and over here we pay 38% in income tax. With the remainder of your income you pay 14% sales tax on everything you buy (some items like petrol are taxed in excess of 50%) and then rates and taxes on your property. Unemployment runs at 25% (40% according to some sources...). In a country of 50 million people, only 5 million complete a tax return. 13.5 Million people receive some kind of grant directly from the government. (every tax payer supports 2.4 non taxpaying, grant receivers). Talk about unsustainable.... Immediately you can spot the problem. Receivers of grants outnumber the payers of tax by 2.4 to 1. In a democracy the 2.4 elect the government. Instead of getting us out of this trap the government gets us deeper and deeper into it. Until the system collapses and everybody suffers. Then the whole cycle starts at the beginning again.</p>
"At this point you get to the difficult part: What to do about this.
"The modern day democracy has failed us - it is two wolves and a sheep voting on what to have for dinner. We need some kind of neural network to balance the voting. In this system one would be rewarded with extra voting points according to your level of education, and yes, the amount you contribute in tax. Further to this is needed a much higher level of participation in the laws and decisions passed in parliament. With the Internet it is feasible to have a mini referendum on a daily basis. Bail out the banks? Click... NO. Bail out GM? Click... NO. Go to war in Iraq?... NO. This returns some of the decision making to the people - opinion polls suggest more people are against those issues than are in favour of them - and yet congress goes ahead? And then there is the fundamentally flawed reserve banking system.
"The really depressing part? No chance something sane will ever be implemented. For this reason I concur when you guys advise to buy gold - you get what you pay for. One ounce of gold. No more no less. It is honest without an agenda of its own. How refreshing.
"Keep it coming even if it is devastating to our case.
"Regards"
And another…
"Responding to the dissenter in today's W&G: That which IS seen; gov'mint controls on everything; would appear to be solutions. What is NOT seen is how private enterprise would otherwise have handled the same problem. I participated in the Mercury, Gemini & Apollo programs. Nine hardware items for which I had full design and development responsibility went to the moon and back. Yet I said at that time that private industry would have done the job better, cheaper and made a profit in the process. Today, 40+ years later, we're starting to see private enterprise enter the space transportation field with the expectations of making a profit. I predict space travel will become much more safe and reliable accordingly. No more Shuttle disasters.
"Highways, medical care, food purity and quality were mentioned as being best handled by government agencies. Nonsense! For-profit companies with their reputation and survival on the line would do the same job better and cheaper. But you can't see that because the government prevents any competition. Ditto the post office, ad nauseam. Highways would be much safer; medical care would be prompt and less expensive; food purity and quality would be far superior to the on-going contamination we now face everyday; letters would be delivered promptly at a fraction of today's cost if these products and services were privately offered. The bureaucrat has no profit motive or personal liability if something goes wrong. Government simply claims they didn't have enough money or manpower to do the job. Private industry can't make excuses: they either perform or go bankrupt. I'd much rather trust a for-profit private company than a tax-supported government agency to do any job.
"Today, half of the population thinks they can benefit from the efforts of the other 50%. The other 50% are extremely close to saying 'Nuts' to that deal. So what happens to your precious Socialism when the productive half quits working?"
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