Quote:
The rumour lately driving markets was that Bonzai Bernanke would inflate the US dollar away through Quantitative Easing II. The news will be contained in the Fed's Open (actually "secret") Market Committee meeting on Wednesday. Will BB follow through, or not? What will the markets do? Suppose Republicrats win? Will that change his itty mind? Who knows, but we all know that no election will change the nature of the American economy & its monetary system, where one-half (1/2) the income of nearly every state consists of 20-25% state & local government spending, about 30% direct Federal spending, and another 5 - 15% Federal government loans & loan guarantees.
There 'tis, folks: you have no economy. You have half the people whittling, gazing at TV, indoctrinating, investigating, watching, suspecting, regulating, and writing tickets to the other half, who actually produce something. You think Republicans will change that? Right, about the same time the Devil starts selling ice-skating concessions in hell. It would take 20 years of careful maneuvering to switch back to a productive economy, or 3 years of pure hell, & a long sight of vision and statesmanship. Where will that come from?
Sure, this guy is running a business selling gold (money changing, not a bad name for it), but at least part of his message is anchored in middle America. We have enough trouble moving our own small economy here, it's not quickly moving into high-tech exports, as the politicians have been pleading us to do. (Mind you, they're sending mixed messages, like taking away the well-conceived R&D tax credits, but that's another story). Gold is a bet on uncertainty in major economies of the world.