The fat lady is singing

Greg called me about an article on the von Mises Institute's site. It is required reading. Seriously, take the time to take this seriously. Acting too late is reacting, which is to say, you lose. Sometimes, paranoids are right.

I think is was Milton who said some books were for tasting others for digesting. This article is for digesting and, then, preparing. Type on the title for the site, if it is not present. (I never know what is going on technically)

A few out takes:

Anyone who does not understand the magnitude of what is taking place is an economic ignoramus...

The conspiracy of well-placed insiders is now tottering. The whole structure of the national American political system has rested on the solvency of the largest American banks. These banks have all been called into question. They are now gutted....

These scholars agree: we are seeing the bankruptcy of every Western government that has made too many big promises to too many voters regarding free healthcare and guaranteed retirement. All of it will collapse. The tatters of the promises will point to the tatters of those who made the promises — politicians — and the tatters of the system that was supposedly going to guarantee delivery of the promises.

The academics still believe in the healing power of the state. The voters still believe this, too. But voters are catching on more rapidly than the academics that the state is running out of wiggle room. Millions of voters have figured out that they are going to get stiffed. They don't know what to do about it, but at least they understand that they really are going to get stiffed...

We will have another round or two of centralized government, and probably more than one or two rounds of increased monetary expansion. But what we will not have is a restoration of anything resembling the financial world that existed prior to September 2008. That world is gone...

$28 $21

"At the very core of the free-market economy, as Mises said in 1912, is the monetary system."

This is why it is important for you to preserve your assets by not believing the official assurances. Put your money where the experts tell you that you should not put your money. You should take your money out of those segments of the economy into which the experts say you should put your money, claiming it will soon boom. They have ignored the fact that the stock market has been a losing case since March 2000.

Peanut butter and guns are a good way to deal with hyper inflation. I suppose taking out a loan may work, if you don't need one, then watch as the dollars you use to repay the loan shrink.

For God's sake, only a flat mortgage.