enablers of this false prosperity

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onepence
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Joined: Sat Feb 04, 2006 2:44 pm
Location: Longwood, FL, USA

enablers of this false prosperity

Postby onepence » Tue May 02, 2006 7:32 pm

http://www.kitco.com/ind/Galakoutis/may022006.html

The home for instance, throughout all of time the symbol of family and stability that most strived to own free and clear, has been reduced to nothing more than a vehicle of speculation by the so-called "flippers" as well as ordinary Americans; individuals whose actions one might argue are far removed from the great generation of Americans that built this country into a superpower. The Federal Reserve, enablers of this false prosperity by conditioning the populace to embrace credit and run up debts like drunken sailors, is revered by consumers that don't know any better, and cheered on by Wall Street pundits who continue to profit the further up the creek Americans paddle.

In due time the action in the various markets that are of no concern will become a dire concern, and the Federal Reserve as well as the mainstream pundits will be exposed for the incompetents that they are. Regrettably by the time that comes to pass, similar to the vindication of the Arthur Andersen firm after it was reduced to nothing but a puff of smoke, the damage will have already been done.

With gold over $600 and rising, silver over $12 and rising and oil over $70 and rising the inevitable standard of living adjustment between East and West may now finally be under way. Millions of Chinese, now setting their bicycles aside in favor of shiny new cars, are gaining strength and momentum while saving and buying gold. Americans on the other hand, with too many cars and debts, too happy and too out of shape to compete, will in all likelihood need to hit bottom before any renaissance could begin.

Perhaps a good start along the comeback trail might be loading US bound cargo ships, which will surely contain fewer and fewer consumer goods in a deteriorating US dollar environment, with Chinese bicycles while in return Americans send the Chinese their cars. With oil prices headed to the stratosphere as the US dollar declines, Americans won't be in a position to afford to drive them anyway.

Those thinking this may not be a fair deal need only remember all the years Americans received real goods from the Chinese in exchange for worthless IOU's. With that reality as a backdrop, and given the great shape Americans can get into utilizing their new methods of transportation, the Chinese would actually be doing us a favor.


Contact information:
Christopher G. Galakoutis
CMI Ventures LLC
Norwalk, CT, USA

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