Quote:
Originally Posted by NickC  |
Oh, Soros is an evil sob, no doubt about it, but our current economic problems run far beyond anything he has done.
What we are seeing is the predictable result of globalization - and the ideological blindness of the neocons running our current administration, with the added wrinkle of a long accumulation of leftist environmental legislation which is now literally strangling us.
As I said in another thread on the oil topic, we have met the enemy, and he is us.
WE, the American voters, have been installing politicians in Congress and the White House for decades who have been messing up our economic future, including but not limited to oil and energy policy, and now we are reaping the whirlwind.
Its not the end of the world, though. Just a really unnecessary recession and the beginning of some nasty inflation (which fact would militate against burying cash in a mason jar - the money will just shrink in value every day as we enter a stagflation spiral - for ref. to how this works, just read any article that includes the words "Jimmy Carter Administration").
What's ironic is the fact that for Jimmy to achieve stagflation, he had to have control of Congress, whereas this time around we have a neocon Republican (aka, liberal Republican) in office doing it in concert with a Democratic Congress.
I call the coming election the "Grand Experiment", with America's marxists finally capturing the cat bird seat after pursuing it for over a century.
Oddly enough, this might be just what the country needs - "socialist shock therapy".
Obama is telling us a LOT of what he plans to do - he really doesn't have to lie to get elected, because few people seem to believe him when he promises to install a fabian socialist system (with several cute fascist twists like privately owned but government run universal health insurance).
This could be a wild ride, but I suspect we might be better for it in the long run. Some folks have to actually EXPERIENCE the hot stove before getting burned becomes a real danger to them.
And yes, I believe we will survive the experience, though it will be maddening at times.
Prudent people will be focusing on saving what they can right now. If you have a retirement or pension plan, take steps to move it offshore if you can (some tax free island in the Caribbean would do nicely). Otherwise, count on part of the experiment including a raid (15%+) on your 401k or IRA. Should the marxists get away with the first raid, there WILL be a second, third, etc. Count on it.
If you want to invest in something real, buy stocks (and transfer them to that offshore account) in commodity companies that operate outside the United States. Avoid craziness like commodity futures, but solid companies with large reserves will pay huge dividends in the future. I particularly like companies in the Titanium mining/processing business right now, although like all investments, this is subject to change without notice (the wild swings in equity and commodity prices are now largely determined by political events rather than normal market forces, particularly in the short term).
