(And the effort begins… “Obama’s Stocks“? A Bloomberg “business” story with no mention of Inflation due to the Quadrupling of the Money supply. Drudge led with this today… And I’m following up with a purposeful repost from 011513)
What you are about to see…
In a couple of years or less there will be news stories touting the flood of new Millionaires. It will be attributed to the Brilliance of the President’s Socialist economic policies which are Keynesian in nature.
This will happen.
But what will be left out is that a Million dollars will buy you a loaf of bread.
While that will hopefully be an exaggeration, the cost of basic necessities has almost doubled since the President took office and there appears to be no end in sight.
The general public has… I would say “no understanding” but that might be generous… a negative, or less than any, understand of the relationship between a dollar and a dollars buying power.
One must first understand that the only reason a “Million Dollars” means anything is because of what it can buy… not because it’s a big number. I possess a Zimbabwe 1-Trillion Dollar note. This does not make me rich. It has no buying power, so aside from its representation of what we as a country are headed for, it has no value. It’s worthless. And… it’s WAY more than a Million Dollars.
We need to be ready for all the stories about recovery using inflated dollars to substantiate them. I hear the presses being inked as I tap this out.
Considering the Left is willing to equate anyone trying to stop irresponsible spending and the subsequent destruction of the greatest nation on the planet to slavery… you know the stories are being written right now.
Because no one wants to read about economic collapse…
Get your wheel barrows ready… you might have to go to the store for bread.
But we’ll be Millionaires!
And the Left will take credit… unless we see it for what it is, then they’ll blame everyone else.
January 19th, 2013 at 4:44 pm
there’s a problem with buying gold right now. not in theory, in the fact that if you were to buy gold today from your favorite gold dealer he would not send you gold. he would send you a certificate of ownership of your gold. now you’ve just purchased “gold currency” and not gold money and you’re right back in the same boat as the rest of the currency owning world.
real estate anyone?
January 19th, 2013 at 5:31 pm
real estate… ownerships percentage… spot silver at this point. Livestock? Chickens are dual purpose… cows…
January 15th, 2013 at 10:13 am
Cool. You’re a trillionaire.
If I were an American and I had any savings, I would be using them to buy gold right now (actually, I would have done that a long time ago). The price of gold might be quite high right now, but I’m convinced that the loss from buying gold at a high price and selling it at a lower price would be less by the time Obama is done fundamentally transforming America than the loss in the value of the savings.
January 15th, 2013 at 10:19 am
There is obviously quite a bit of thought on this. There is a history of gold, along with spot silver, and how it is used during periods such as these. I have adopted the tactic of investing in equities… as ownership interest in strong companies has also been a good bet and easier to dispose when the chips are down. It is also a protection against inflation as the ownership percentage of that company does not change… While the Fed can apparently print more money devaluing my savings. We’ll see how I do. Probably sooner than later.
January 15th, 2013 at 10:20 am
Oh… and I wonder if that makes me a 1-percenter in Zimbabwe…
January 15th, 2013 at 7:09 am
With the White House calling for the debt ceiling to either be eliminated all together or turned over to the treasury department, that million dollar loaf of bread may not be that far off in the future.
It scares me how ignorant most Americans are to the basic concepts of economics yet can tell you the stats of their favorite athelet’s entire career. The fact their vote counts just as much as mine shows why Democracies always decline into despotisms.