The Keynesian Legacy Unravels
Keynesian economists believe, regardless of logic and data, that economies can be managed from the top down. Austrian economists, on the other hand, see millions of individuals all making decisions to improve their own lives. No matter how good someone in Washington believes their grand plan is, it comes down to how individuals perceive it. In short, Keynesians need to understand that the road to hell is paved with good intentions.
The New Normal
The dysfunction, polarization, and business meddling in Washington has all but stalled the real economy in the US. Business, not knowing what stupidity is coming out of Washington, do not want to risk their assets on future plans. In addition, the inability of Washington to control its spending habits is also helping in keeping national growth prospects grim. In short, the new normal is sluggish growth, persistently high unemployment, and concerns about debt, deficits, and taxes. Speaking of taxes…
1 Trillion Dollar Obama-care Tax Hits Today
Obama-care contains twenty new or higher taxes and five of those taxes hit today. For instance, the Obama-care medical device tax imposes a new 2.3 percent excise tax on gross sales from pacemakers to artificial hips. Then there is the Obama-care Medicare payroll tax hike that will impose a 2.9% tax on all wages and self-employment profits. Obama, and his goons, really know how to bring in the new year folks.
The Basel III Game-Changer for Gold
There is increased chatter about gold being brought back to Tier 1 status as real money. Of course, anyone should know that physical gold and silver are money and nothing else. If the Basel Committee decides to grant gold a favorable liquidity profile under its proposed Basel III framework, it will open the door for gold to compete with cash and government bonds on bank balance sheet and that also spells trouble for so-called AAA government bonds.
Public Buying Monstrous Amounts of Physical Gold & Silver
Bill Haynes, President of CMI Gold & Silver, says that the people who are buying gold and silver are extremely successful people. In the past, these people have had no reason to look at gold and silver; however, they are moving their excess cash into physical. In fact, there appears to be a run on physical gold and silver because there is a growing acceptance that the West is in real trouble. With that in mind, after preparing, keep stacking physical and ignore the paper price noise.
More Guns Sold Mean fewer Gun Deaths
California Senator Dianne Feinstein may be humiliated, yet again, by the fact that; California gun dealers sold 600,000 guns last year, double the year before and during that time period, the number of gun injuries feel by 4000, or 25%. Poor elitist Feinstein, she is just too stupid to understand the average person. Maybe, she should listen to Suzanna Hupp’s Testimony about how guns could have been used to stop an insane gunman.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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