OBAMA, ROMNEY CLUELESS ON ECONOMY

After gamely sitting through the carefully rehearsed performances that went by the name of debates, it became absolutely clear to me that neither of these guys has the slightest idea what to do about the ongoing economic crisis. In fact, politicians have only one idea, and that’s how to get re-elected. The same is true in Europe where their Union continues to come apart at the seams.

Politicians depend on central banks to print money to keep the global financial system from collapsing. Their counterfeiting debases the various fiat currencies and hurts the Poor and the Middle Class whose purchasing power erodes month after month..

No matter who wins the U.S. presidential election on November 6^th, there is simply no way our country will ever make good on its gargantuan debts and pile of IOUs that now total as much as $212 trillion. The debts will never be repaid.

Flooding the planet with “Monopoly money” will only cause more asset bubbles to blow up and then burst. At some point, even “ Boobus Americanus" will “get it” and lose confidence in the U.S. dollar. When that happens, they will be the last to turn to hard assets in a desperate attempt to preserve what will still be left of their savings.

With the Fiscal Cliff and a new higher debt ceiling looming, and neither party talking to the other, the endgame may be just around the corner. In any case let’s face it, we’re circling the drain. Rich old men protecting their property by sending young men to die in wars of their making.. Elections have become a charade. They give Americans the illusion of choice. The real looting in this country is the transfer of wealth from the poor to the rich. The owners of the country are now out in the open. The rest of us are in the back of the bus.

October 25, 2012