Ron Paul popped up on my Facebook™ page. He had the same message to deliver as Rickards, the Asymmetrical Warfare guy and the safe havens guy Martin Hutchinson, Global Investing Specialist from Money Morning. American currency is about to be seriously devalued, the stock market is about to lose 50% of its value and seniors will be in the worst straits because their pensions will be lost. Inflation will suddenly go sky high. This will happen because of all the currency being printed by the Fed to prop up the economy. The Fed (which should be disbanded) has been ignoring sound economic practice, our debt is too high, and America will soon pay the price for bad economics. The lone voice against all this money mayhem is Paul Krugman who these folks disrespect whenever they get a chance.
All the doomsayers are economists, at least two have held positions in Washington for decades, and they are suggesting that they are connected with economic research centers. They want us to conclude that they are experts in the field of economics, that economics is an exact science, and that the science of economics predicts that the behavior of the Federal Reserve and the last 6 years under Obama will be the end of the middle class in America. Although the middle class was in trouble long before Obama took office.
I have finally figured out that this is not about economics. It takes me a while. This is about the 2016 election. What these men are saying is that only electing Republicans will put our economy back on track. They want the Fed stopped now and forever. They want a deeper level of austerity than we have now and they want taxes, especially taxes on the wealthy, to remain low. Since we stand to lose government programs anyway because of the impending crash, they want us to believe that we should be proactive and cut social programs now.
These fear mongers feed directly into the Republican wheelhouse and these folks attempt to panic us into electing Republicans (or in Ron Paul’s case, his son Rand). They should not have made the time line so short because what if the economy does not tank before the 2016 election? Perhaps our wily Republicans have a plan to make the economy stutter in order to guarantee that Republicans reap that panic vote.
After reading The New York Times article in Sunday’s magazine section which wished to inform us of the forces lined up against the Democrats, including a split in their own party, and that the outlook for the Democrats is very gloomy, according to many political analysts. The Republicans are so strong in the House that the Democrats cannot take back the House for several election cycles, they say. I have heard this argument from a number of sources, not just the NYT. The Republicans have won so many states, fairly or not, that Democratic voters, who already show poor voter turnout, are likely to feel that any vote for Democrats in 2016 won’t count for much. They will either stay home or vote for the opposition.
So, summing up, the economy is ready to die and die for a long, long time. The responsibility for that as you can already guess falls to the Obama administration and the Federal Reserve (also due to policies during the Obama administration). The person in the Presidency when the economy fails is always the person responsible for that failure.
Causes of economic downturns are often difficult to pinpoint exactly, given that economics is not an exact science, so there could be a plot to cause the economy to go belly up (might a part of that plot involve 6 years of Congressional neglect) while a Democrat is in office so that voters will rush to the brilliant Republican camp and the GOP will ride into the Presidency on waves of their economic “hard-assery” (Thank you Jon Stewart) and then they will own it all, the Executive, the Legislative and the Judicial. Done and done, the bloodless coup will be over and we will have a one-party government. Anyone who says this is what our forefathers wanted is just lying through their teeth (or their missing teeth in some cases).
We won’t need infrastructure because we’re going back to dirt roads and the only thing that might benefit from this “rusticating” is the environment, although climate change from man-made causes is not happening. Get out those corsets and hoop skirts ladies. You are going to church.
Here is a link to my blogger post on the subject, which is also in the archives here:
This is the view from the cheap seats.
By Nancy Brisson