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Economies Pummeled by the Strong Arm of the Financial Ruin

Economics / Great Depression II Oct 27, 2010 - 04:00 AM GMT

By: Richard_Daughty

Economics

Casey's Gold & Resource Summit reports that "Casey Research's own resident economic genius Bud Conrad" is the "nonpareil whirling dervish of data points," which is an odd descriptor, and I interpret it as meaning a guy who knows how to send you into cardiac arrest with "a mind-boggling sequence of charts and graphs covering virtually every aspect of the economy."


As informative as it is, I actually discourage watching this kind of thing, because when it is all over, my boss always wants to "de-brief" me on the thrilling presentation, starting out with her usual "We're freaking doomed!" with me responding with, "That's what I have been talking about for years and years! Hell, you're the person who threatened to fire me if I didn't shut up about how we are freaking doomed from a gigantic boom-bust cycle and persistent, grinding, terrifying inflation caused by the Federal Reserve creating so, so, so much money and the federal government spending that selfsame so, so, so much money!"

I can still recall the first time I saw that look of incredulous befuddlement on her face as she said to me, looking me right in the eye, "How could I believe you? You are an idiot!"

Of course, I protested that I was certainly not an idiot, and she comes back with, "Then how come you do such a lousy job at work all the time?" to which there is (I'm sure you will agree) no good comeback.

Indeed, long experience has shown me that there is no adequate response to being told I am an incompetent and lazy employee, except to suddenly burst into tears and run crying and/or hysterically sobbing from her office so that she will be so embarrassed for me that she will avoid me for months. Hahaha! "Arrgghh! There's method in me madness, matey!"

Casey's summation is that Mr. Conrad "succinctly spelled out the overall message for us: we are in the eye of the storm. That little bit of blue sky Washington is pumping up is no different from the patch of blue at the eye of a hurricane. The next arm of the storm is on the way."

And I will note with alarm that "arm of the storm" has a 38-inch bicep and enough punch to stop a runaway Mack truck, meaning that it will hit you so, so, so very hard that you will only have enough strength left to mumble, through a mouth full of blood and broken teeth before you are financially killed by inflation, "Get the license number of that Mack truck that just hit me!"

Such a gruesome outcome is why you must be buying gold and silver, which are the only things that 4,500 years of history says will Save Your Butt (SYB).

And it's so easy that you can only say, "SMB? Whee! This investing stuff is easy!"

Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron’s, The Daily Reckoning, and other fine publications.

Copyright © 2010 Daily Reckoning

© 2010 Copyright The Daily Reckoning - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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