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.
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
