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July 31, 2011

Comments

Brian, I'm always kind of surprised at how mainstream you are on politics and economics.

Here's another POV

http://kunstler.com/blog/2011/08/weimar-meets-waterloo.html

The evidence grows that Mr. Obama is not a centrist president but just another corporatist who doesn't walk the talk. If you don't subscribe to Salon premium you are missing Glenn Greenwald who regularly and cogently holds the president's feet to the flame:
http://www.salon.com/news/opinion/glenn_greenwald/

Another realistic source of information is Automatic Earth

http://theautomaticearth.blogspot.com/2011/08/august-1-2011-of-ceilings-and-dungeons.html

Randy, I read the Automatic Earth post. I didn't find any suggestions for doing things differently, just an attitude of "we're screwed, so we'd better get used to it." How is this helpful? Maybe I missed something.

You're more familiar with this web site than I am. How does this person believe the United States should deal with its debt and deficit problems?

Since those in control of the US have demonstrated their unwillingness to allow recessionary forces to do their necessary work of correcting the extreme imbalances within the economy, there are only two options left - default and deflationary implosion - ruin, or a comprehensive takeover of the country by its creditors, both of which options probably occurring after a period of runaway inflation as the Fed and government desperately try to stop the inevitable.

If the former occurs the shockwaves will reverberate around the world like they did a few years ago, only worse, and we can expect a collapse in commodity and stock markets. Has your house lost value? Try another 50% drop after the 2012 elections going into 2013.

Until that happens it will be a case of inflate and inflate, to forestall rising rates and liquidity problems, which will make gold and silver probably the best investments around, but you sure don’t want to be around once the music stops. We should see gold around $1700-1800 by year end and the sky is the limit ater that.

Even gold and silver will bust eventually, but will still retain value while printed fiat money won't. It is therefore to be hoped for the common good that the US authorities make the right decision and surrender to the mercy of their creditors before it’s too late. Either way the American Empire is finished.

This post http://theautomaticearth.blogspot.com/2010/07/july-22-2010-big-picture-according-to.html

on Automatic Earth leads you through a series of essays that the two writers (Ilargi and Nicole Fosse) feel are the most important to their readers. Their advice is directed at individuals and how to survive what they believe is now an inevitable calamity. My dad's favorite saying was, "He who dance must pay the piper." In answer to your question there are no good solutions, only painful ones and I would personally lean toward an amalgam of ideas proposed by Kucinich and Ron Paul. A primer for all of this stuff is Chris Martenson's Crash Course http://www.chrismartenson.com/crashcourse

Tuscon,

I find your posts quite informative and right on! The US Govt and federal reserve have not allowed the natural economic cycles to run, while they hope in vain that more and more spending and more and more debt is going to stimulate the economy and pull us out of this mess we're in.

Honestly, I think we're finished. We're going to see the value of paper currency go down big time over the next few years. It appears that gold and silver are good insurance policies for protecting one's wealth. So, my friend, do you know any gold or silver IRA funds that have the actual metals to back them up - unlike the common gold and silver EFTs?

Bob

Sorry folks - it's business as usual in Washington DC as of this evening, August 2nd. It continues to appear as though we will all perish individually, rather than as a society.

The nonsense will continue ad nauseam and ad infinitum.

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