Today I would like to share with you some blunt thoughts by David Galland, Managing Director of Casey Research. Take a moment to read it in its entirety. I’ll wait.
Back? OK. Let’s talk. Galland is saying that the euphoria some people feel from the last election is misguided. I agree. Unlike some of my friends, I feel not one whit better today than I did two weeks ago. Sure, it was nice to stick it to Obama and his lackeys, but that appeals to my less noble side. In reality, there is no escape from our current economic rat trap–one that will spring suddenly and devastatingly.
No escape? Well, that depends on what you mean by escape. A rat can get out of a trap if he chews his own leg off. The American people must be willing to do the equivalent to make it to the other side. Do we have the will? Most days I doubt it. As soon as a conscientious politician (if such may be found to exist) starts enumerating what must be done, he/she will be headed home faster than Rush Limbaugh on a bicycle in Harlem.
We have only two real choices. The first is to dismantle the welfare state completely. People who paid into Medicare and Social Security have every right to expect payment. They can’t have it. People suffering under brutal regimes elsewhere in the world need our help. We can’t afford to give it. Sick people need doctors. The government can’t help them. Government must become only the protector of individual rights, nothing more.
The second choice is to die slowly in the trap, hoping that somehow, some way a magic fairy will show up and lift the bar that pins us. I am 53. Not once have I ever seen a fairy. For that matter, I have never seen more than a few people who can swallow option #1.
So where does that leave us? Much as Galland says, I think. Save gold and silver, earn as much extra income as you can and save or invest it in an inflation-resistant form and get on with your life. I am not giving up. You’ll see me for the foreseeable future blogging here and speaking there on these topics. We will emerge from this, but only after some genuine pain. I may have to chew my own leg off, but damned if I will lie there waiting for death. How about you?
Terry has never seen a fairy, but he thought he saw a mermaid one time. Turned out to be a manatee. He was pretty lonely at the time, and that manatee didn’t look half-bad.