The unpleasant reality is that years of bad monetary and fiscal policy have over encumbered our economy with debt and undermined our industrial capacity. The sooner we can begin to repair the damages, the sooner we can right the ship. If instead we merely administer more of the same, the ship will sink in a sea of inflation. FULL ARTICLE
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10 comments ↓
As long as the fed keeps printing more money – and keeps the interest rates artificially low, the dollar is doomed.
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You’ve got that right Dave! The Fed caused the problem by making credit waaaaay too easy. Now they want to solve it by telling people to buy more and yes, you’ve got it, use more credit.
These people are either idiots, or they’re trying to completely destroy the economy.
I read a few excerpts of Schiff’s new book, Little Book of Bull moves…., last week – and am excited to get a copy soon. Looks like great stuff, just like almost every one of his articles!
I totally agree with Schiff. And frankly I’m scarred at where the US economy is heading. I saw too that long term purchase of US bonds by foreign countries are sliding down too. That’s not good. To me it says they are unwilling to finance our continued debt and see us a greater risk.
I agree too with Dave Anderson’s comment. The dollar does look doomed and have heard Schiff say pretty much the same thing. Which is one reason I’m keeping an eye on gold and silver. This morning ExactPrice shows both up. Right now Gold’s at $858.50 and Silver’s at $11.48. Last month Schiff said he expected gold to retest last years highs and I’ve read from others that $2,000 could be tested. I don’t know about that. But with the dollar looking like toast I think some reasonable investment in gold and silver a good bet.
Hal – some good observations. As of now, gold is even higher. While day-to-day fluctuations up and down are still pretty wild even in the metals markets, it’s the long-term that people like Schiff are talking about.
As all the new bailout money (which they really have to create out of thin air) circulates through the system, we’re going to see an ongoing devaluing of the US dollar, which will result in growth for both Gold and Silver.
Have you listened to Schiff’s weekly podcast? It’s really informative stuff – http://www.europac.net
We often judge quickly. I can only judge through experience. Just how complicated does it have to get? I would suggest that it would be helpful to first find out what a person wants. After that, if they are still not happy, thats their problem. Are we too restrictive with our policy’s? Since man is a thinking entity I would think that the more often we free him to do his or her own thinking, instead of just doing what they are told, that we would have a more fullfilled people. Some do not like the word fullfilled. A lot of things should be left to the individuals preference. And since time began I really don’t think that an argument has solved anything. If we had a hundred Lincolns and a hundred Dr. Seuss’s we would still have problems. that is the nature of existence. So what you CAN do is solve as many obastacles as possible. The Battle Hym of the Republic is a nice song. Let my people go. Roger
Michael, thanks for the link. I’m heading over now to grab his podcast. I didn’t realize he did one.
Don’t know how I missed that!
Hal, I just found his podcast myself. I had been on his site a number of times since we started carrying his column here, but only found the audio link a few weeks ago. A lot to catch up on!
His associate, John Browne, usually has some great commentary articles too.
Roger, I think you really hit the nail on the head with this:
“A lot of things should be left to the individuals preference.”
you’re absolutely right. In fact, I think virtually everything should be left to the individual’s preference, as long as their preference doesn’t involve aggression against another person or property.
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