Everything is Under Control?

By Greg Hunter’s USAWatchdog.com

There are some big messages being put out by the government that appear to be for the sole purpose of reassuring the public that everything is under control.  Bernanke appeared on “60 Minutes” 10 days ago to tell the public that he is “100 percent” sure inflation is not going to be an issue, and that it’s a “myth” the Fed is “printing money.” I am not going to touch on the veracity of his statements.  I did that in a recent post called “CBS Allows Fed to Spread Disinformation Unchallenged.” I want to explore why the Fed Chief felt it necessary to go on nationwide television to, basically, tell America and the world that he’s on top of the economy?  He could have gone on Bloomberg, CNBC or held a press conference at the Fed and got coverage for his message.  Why didn’t Mr. Bernanke ask to be on “60 Minutes” when he announced an unprecedented second round of more than $600 billion of Quantitative Easing in early November?  That was a big announcement–what he did 10 days ago was not.

Fast forward to last Friday.  See Bill Clinton and Barack Obama on stage to announce a united front to push a new tax package that extends the Bush cuts to all.  Everyone in the mainstream media seems to describe this as “impromptu,” but I think it was staged to send the message that things are under control.  Bill Clinton enjoyed one of the best economies in U.S. history.  He is the face of prosperity and good times.  Long time ABC Correspondent  Ann Compton, during a radio interview this week, described the feeling in the room as “desperation.” The network coverage was just the opposite when it came to describing the “impromptu” press conference of Democratic Presidents.  Newsbusters.org highlighted the gushing network coverage Monday, “. . . Good Morning America’s Dan Harris raved, “That was an awesome bit of political theater. An amazing atmosphere in the room, I have to imagine.”  Reporter David Kerley saw Clinton’s Q&A as a return to the 1990s and “the form that he showed in that White House briefing room when he was President.” On NBC’s Today, Mark Halperin touted Clinton holding court with reporters for 20 minutes (after Obama exited) as “great political theater.” Finding lessons for the current president, he enthused, “Bill Clinton figured out how to compromise, but still show people he was true to his principles and fighting hard for the middle class.” (Click here to read the entire Newsbusters.org post.)

I have to admit, for a moment, I did get a warm fuzzy feeling that things were on the right track again.  Then, cold hard reality sank back in.  The Hill reported Monday, The package could add $900 billion to the national debt, if it is made permanent, and this increases the chances the U.S. would one day default on its debt.  ”From a credit perspective, the negative effects on government finance are likely to outweigh the positive effects of higher economic growth. Unless there are offsetting measures, the package will be credit negative for the US and increase the likelihood of a negative outlook on the US government’s Aaa rating during the next two years,” Moody’s analyst Steven Hess writes.” (Click here fro the complete Hill post.)

I could be making something out of nothing–then again, maybe not.  And, maybe this was an “impromptu” press conference and maybe not.  What if the government is really just trying to reassure the public so if something bad does happen, it can head off a panic?  The list of possible problems is real and enormous.  A sudden war in the Persian Gulf could be a nasty surprise.  There are still bank solvency questions and the government sanctioned accounting fraud that is designed to make banks look healthy when, in fact, they are not.  And let’s not forget, Moody’s is threatening to downgrade U.S. debt!  It is absolutely critical to the U.S. for the world to view its debt as a safe investment.  In a recent post, Theeconomiccollapseblog.com writes, So if there comes a point when the market for U.S. Treasuries completely collapses, it is going to cause unprecedented financial chaos.  The worldwide derivatives market, which is already highly unstable, would almost certainly implode.  Credit markets all over the globe would seize up.  Global trade would quickly grind to a standstill.  This isn’t going to happen overnight (hopefully).  Rather, the loss of confidence in U.S. Treasuries is something that is likely to take months or even years to play out.  But once that confidence is gone, it is not something that will be able to be rebuilt easily.”  (Click here to see the entire report from Theeconomiccollapseblog.com.)

Economist John Williams of Shadowstats.com has been tracking plunging tax receipts and soaring Federal deficits.  He has been predicting that chances are increasing the U.S. could experience a sudden and severe dollar sell-off.  This, in turn, could lead to hyperinflation.  In his latest report, Williams says this about extending the Bush tax cuts, “The proposed package would not trigger a recovery, and it would not forestall the intensification of the double-dip recession.”

The more government spin doctors give the public reassuring words and contrived images that project an air of serenity and confidence, the less I feel “everything is under control.” I get the feeling that something bad is coming–and soon.  I hope I am just being too pessimistic.

Comments
  1. John Bernard

    Greg
    With a nod to Dandy Don “Turn out the lights, the party’s over”… Now that we have the Patriot Application for smart phones everything is under control. We are slipping into a Soviet style dictatorship. Oh the process will take some time to complete and it may be reversed, but it’s coming now. Simply by using your phone you can ruin someone’s life by alerting the DHS to suspicious behavior. Guilty or not they will be hounded for quite a while.

    The recently elected Republicans are as disappointing as expected. There appears to be no truth, only disdain from “our” government.

    There is no fourth estate aside from folks like you who are willing to question publicly and have the forum to do so. Yes, you are at risk and your readers appreciate it. While you are giving autographs through the fence at a FEMA camp remember not to touch the wires.

    • Greg

      John,
      I hope you are wrong on this one but I fear you are correct. I thought my site was tame compared to others on the Internet.
      Greg

    • MarkM

      Hello John,

      I sensed a touch of anger in your post. I have been told that anger first requires a feeling of entitlement. With the results of last November’s elections, I have not gained a sense of entitlement. BO still has super majorities in the House and Senate. And when the republicrats take over the House on January 5th, they will hold 1/3 of the power. 1/3 of anything is still a minority.

      Next, we have a republican party that is populated with a plurality of RINOs.

      My expectations are rather low.

      Anthony Wiener was interviewed by Hannity last night. Anthony is a full fledged high priest. He is very religous. Yes, his political idealogy is at a religous level. He will not listen to reason, history, or logic. Anthony is representative of Barrack-Obama-progressives.

      I am not angry, because my expectations are very low.

      Our only hope is that the remnants of our free market can rise above the destruction and mayhem created by Washington, and save us from destruction.

      Gold, lead, food, and water purification systems may be good investments right now.

      markm

  2. Dr. Neal J. Houston

    I could not agree with you more
    This statement says it all…

    The more government spin doctors give the public reassuring words and contrived images that project an air of serenity and confidence, the less I feel “everything is under control.” I get the feeling that something bad is coming–and soon. I hope I am just being too pessimistic.

    Thanks Greg…
    Best regards,

    Dr. Neal J. Houston (cgvs)
    Chief Numismatic Consultant
    Coin Docere®™

    • Greg

      Thank you Dr. Houston for the comment.
      Greg

    • Bubby

      Super iofnrmaitve writing; keep it up.

      • Greg

        Dr. Houston good to have you back!!
        Greg

  3. Alyce

    It’s easy for people to become lulled into a false sense of security. The term normalcy bias keeps popping up in articles I read lately. It is when people interpret warnings in the most optimistic way possible. Happens all the time…human nature to believe that since a disaster has never occurred in one’s lifetime, that it just never will. Trust your instincts. It was not an “impromptu” press conference.

    • Greg

      Thank you Alyce! We think alike.
      Greg

  4. David

    Nice article Greg,

    And don’t forget, in late October Timothy Geithner came out and said “We will NOT devalue the Dollar.” Only to be followed a few weeks later, on November 4th, Ben Bernanke comes out and announces $600 Billion worth of “not printing money”.

    When do you know when a country is going to devalue their currency??? Right after they they announce they will not.

    Keep up the good work!

    David

  5. Think for yourself

    Greg:

    I enjoy your articles on the mortgage fraud and other issues. It is nice to remove a little of the spin and tell it like it is.

    Regarding this article. You don’t believe that Moodys is influenced by the Government and WallStreet (owners of Moody)? If T-bills do fall, then it will be a call from the people who control such things mark-the-price via market maker on the desk and give the ratings… Hmmm… Who could that be?

    • Greg

      Think for yourself,
      Very good point. Thank you for making it here.
      Greg

  6. lostinmissouri

    I guess I have only my bible and guns to cling to. Pray for America.
    Thanks for your site, Greg.

    • Greg

      Lostinmissouri,
      Prayer is more powerful than your gun but it si good to have both. Thank you for your support.
      Greg

  7. Stanley Hartstein

    Could it be that economic policy-makers do not want a recovery? After all, when there is an economic recovery companies expand their operations and individuals start businesses because they expect good returns on their investments. Companies will offer solid dividends and pay handsome yields on their bonds. Investors will have no problem deciding whether to invest in these instruments for a high yield,or to put their money into treasuries…unless the yield on the treasuries go up to be competitive. If the national debt were low, then the treasury can expect the additional tax revenues of a recovery would offset the extra debt expense. However, this is a serious problem when the national debt is $ 12.5 Trillion and rising. What are the options?

    • Greg

      Stanley,
      I think we have crossed the fork in the road a long time ago. Brace for impact and save yourself. The country will need you on the other side of this mess. Thank you for your sharp observations.
      Greg

  8. Chuck

    Greg you are a surviving veteran of many ticklish situations, your gut is telling the truth. One can try to put makeup on a pig, but it is still a pig. If anyone today critically analyzes what is occurring around us (MOPE and smoke and mirrors) we would all be preparing for the worst and praying for the best.

    To quickly recant one of Bill’s finest moments (“not”); when he declared to the American public that Washington balanced the budget. What he did not tell We the People is that he robbed social security (in the form of a loan) in order to get it balanced. This is a half truth; the same as throwing a half brick twice as far, doing twice the damage. This is only one of Bill’s finest moments. Show me what they do, not what they say. The pig pen is still full of manure at the end of the day.

    You can bet your bottom fiat dollar, things will hit the fan when “they” start working their plan.

    Thank you for all that you do. I hope people are wise enough to read your work!
    Chuck

    • Greg

      Chuck,
      “The pig pen is full of manure” Love the visual!!! Really, you have a clear and descriptive mind. Thank you expressing yourself here.
      Greg

  9. Sam

    Dear Greg,

    I am not sure how appropriate my response to your post is, but I have to tell SOMEONE, so here goes.

    I live currently live in the Puget Sound area of Washington state (I live directly across the Sound from Seattle). Where I live, there is an overabundance of government “workers” – those who are DoD civilian at Bremerton Shipyard and at SubBase Bangor, as well as those who “work” in Seattle, McChord AFB, and Fort Lewis.

    I think Obama must have given Federal employees a raise just before the election, because the Kitsap peninsula overwhelmingly voted Democrat. I have also seen, within the past few weeks, a superabundance of new luxury cars sporting their DoD decals. They also brag about their “toys,” their wall-mounted televisions and SUV’s. However, there has also been a change of attitude here. Before it was laid back, live and let live (that’s why I moved here). However, I have noticed that, since the elections, the Federal persons have become more pushy and rude, willing to assault a taxpayer who dares complain about their behavior.

    What this conspicuous consumption on the part of these creatures tells me is that I think the bubble is ready to burst. In talking to some acquaintances who, like me, are also small business owners, I am comforted by the fact that these “economic experts” are choosing visible “high end” items. They are also saving (albeit a tiny fraction) of their fiat, but their high pay is definitely NOT going to where many of us in the private sector are putting ours: exchanging our fiat for gold and silver coins, buying a lot of storeable foods, purchasing water and Berkey filters, investing in non-hybrid seeds, purchasing firearms and ammunition. When this bubble pops, and soon, I really believe that those of us in the private sector will survive in grand fashion, as we’ve been forced to wear many hats. I have had the pleasure of meeting a number of people who had to switch from one profession to another in order to survive – they possess the skills needed should things come crashing down. The government “workers” who laugh at us, who think that this gravy train will chug along no matter what – they possess very few skills, and even then only skills needed for government, and nothing else. When this grand bubble pops, and I think it will be soon – politicians will have to realize then that all of these bureaus and departments are unnecessary, and will have to lay many off, or face open rebellion.

    Am I way off the mark here?

    • Greg

      Sam,
      I did a radio interview today in San Francisco and I was asked, “How bad could things get?” The first thing out of my mouth was , “We could have a systemic collapse in the economy.” Then the interviewer said, “What will that look like?” I said, “Who knows, we are off the charts as far as the economy goes. We have enormous problems and people somehow think we are going to get back to “normal” someday. The U.S will never get back to the “normal” of yesteryear. There is going to be a new “normal.” That said, what this will look like could likely be a currency crisis or a bond crisis that could collapse the currency and spike inflation and interest rates. That could cause the $600 trillion (at least) OTC Derivative market to blow sky high. We could have a bank holiday where the currency is revalued overnight. We could just keep printing money until the value of the dollar is cut in half. In the end there will many people who will be much poorer than they were before the next plunge. The only sure thing is we will have some pretty big inflation at the very least. So to answer your question, “Am I way off the mark here?” The simple answer is “No.” Thank you for your insightful comment.
      Greg

  10. George

    Greg, I would have to argue these appearances are nothing more than officials hitting the panic button. Anyone that doesn’t think/feel something is terribly wrong with a record November budget deficit of $150.4 billion, 25 percent more than the deficit in November 2009, has a driveway that doesn’t make it all the way to road. Stacks of billions of flawed one hundred dollar bills at the Treasury, what’s that about? More panic. Once started, QE is now impossible to end. Interest rates impossible to raise. Everything is so fragile you know.

    • Greg

      George,
      Good points man. You know what I find really scary? Most people are living in the “Blue Pill” Matrix fantasy world. We are headed for a permanent change in America and most people are not going to like it. Thank you for your perceptive comment.
      Greg

  11. Art Barnes

    Greg, yea, yes, your paranoia may well be right on. Chances are always good when the government has to spin their tail off that they know something is up and it is not good. A chicken in every pot said a prior president just as the the great depression was getting underway. Look here America, you simply can’t print money out of thin air, take the jobs overseas, fight two active wars, have open borders, be trillions of dollars in debt, etc. etc., and think all is well with country. Yes Greg, if the Government says all is right with the world you can bet the truth is about a 180 in the opposite direction. Something is looming, you can feel it, and it doesn’t feel or smell like a chicken in the pot for dinner.

    • Greg

      Yes Art Barnes something is “looming” and it’s not good, especially for the unprepared. Thank you for the comment.
      Greg

  12. David Conrad

    Greg,

    Yes, Bill Clinton is the “face of prosperity and good times”, but through little of his own doing. Lets remember that during his Presidency the housing and tech booms were red hot … Mr. Bill had little to do with that. The larger point is that Obama is in trouble, and somehow he recognizes it. My take on the two together was sadly laughable, especially when Mr. Obama excused himself because his “wife was waiting.”

    Keep up your great work. I enjoy your brilliant articles.

    • Greg

      David Conrad,
      Stellar good points my good man!!!! Thank you.
      Greg

  13. Mitch Bupp

    HI Greg, I don’t know what to say expect that I hope we are all wrong. I don’t believe that many people understand that the dollar crash can happen in hours …not days or weeks. The USA could wake up a great nation and by dark the sun would have set on American dominance ….. Then it will get interesting if the people get a clue and learn how this hole callopse was a staged event …. I would not want to see the anger that result!

    on another subject, If you remember I work on foreclosed homes, the banks get paid their interest upfront for say 5 years on a $1000 payment…. estimated inst paid 12X5(900) $54000 inst paid …then they get the loan principal payment from HUD ins/garunteee plus all of the foreclosure costs and maintenance costs to the property …. foreclosues aer a money maker

    • Greg

      Thanks for the info and comment Mitch.
      Greg

  14. Cowboy Collier

    Greg,
    I have been preparing for eight years for the events you and your reader’s replies have written about today. It has been a very lonely world when so few are preparing for the inevitable let alone believe or even understand what is happening to our once great country.
    Thank you so much for bringing credibility to this subject. It is helping me to realize that I really had not gone crazy when I starting turning our family ranch into a survival center and building a net work of strong individuals with diversified talents who as a group could survive anything fate throws our way.
    I have used gold, silver and their mining stocks for my currency for years. Even after taxes it has been a profitable way to stay prepared while having dollars (after selling to get them) to spend for goods.
    Keep up the great work.

    • Greg

      Cowboy Collier,
      Keep doing what you are doing. If I lived close by I would certianly try to be a part of your network!
      Greg

  15. Ken

    It’s interesting to see people’s take on tax cuts as “something we have to pay for.” The economy isn’t a linear system where inputs give a straightforward output.

    Wealth is created by individuals and businesses, not by the government, and giving people their own money back has a synergistic effect that can only be measured after the fact, but never predicted. This is because free market economies are an example of what I like to call, “complex self organizing systems.”

    Like the weather and neural networks, these systems are subject to complex interactions and feed back loops that can’t be adequately modeled or regulated.

    The best thing to do in the case of human economies is to create boundaries, and let the system find it’s own equilibrium.

    I think that part of the problem with many statist, both on the right and the left, is that they are uncomfortable with anything they can’t predict or control. Or they find things that can’t be controlled to be anathema.

    That’s why the thought of a “900 billion dollar tax cut” freaks them out. All they can see is the money “lost.” They can’t see the effect of having 900 billion dollars in real wealth (as opposed to the fake wealth of QE) creating jobs and even more wealth.

    This wealth creation is hard to predict, but it isn’t exactly faith either. After all, we have history to guide us.

    10,000 years ago we were all poor and homeless. We’ve made a lot of progress since then, and that progress is human action leading to wealth creation, in spite of the government action that leads to poverty.

    Ken

    • Greg

      Ken,
      Very good and well thought out comment. Thank you for making it here.
      Greg

  16. nm

    Greg: This is like the fourth time you’ve said the following below:

    I get the feeling that something bad is coming–and soon. I hope I am just being too pessimistic.

    What could it be?

    • Greg

      NM,
      I’ll repeat what I told a reader by the name of “Sam” yesterday, “I did a radio interview today in San Francisco and I was asked, “How bad could things get?” The first thing out of my mouth was , “We could have a systemic collapse in the economy.” Then the interviewer said, “What will that look like?” I said, “Who knows, we are off the charts as far as the economy goes. We have enormous problems and people somehow think we are going to get back to “normal” someday. The U.S will never get back to the “normal” of yesteryear. There is going to be a new “normal.” That said, what this will look like could likely be a currency crisis or a bond crisis that could collapse the currency and spike inflation and interest rates. That could cause the $600 trillion (at least) OTC Derivative market to blow sky high. We could have a bank holiday where the currency is revalued overnight. We could just keep printing money until the value of the dollar is cut in half. In the end there will many people who will be much poorer than they were before the next plunge. The only sure thing is we will have some pretty big inflation at the very least. So to answer your question, “Am I way off the mark here?” The simple answer is “No.” Thank you for your insightful comment.”Greg

  17. Bob

    As I said in a earlier post the dollar is back by oil control. The corporations with their investments in China are happy with the supply of oil they’re getting. We know the oil is sold in dollars and the Saudi’s said they see 80 are 90 a barrel for the next year. Corporations care more about oil than gold and we are living in a world of corporations with more power then nations. Even Obama had some CEO over for lunch today. I always like the story of the banker asking the oil man for a loan and the oil man asking what do you got for collateral. Big oil has vaults of oil worth muchhhhhhhhhhhhh. Big banks hold paper saying there owed something. Other words you want oil, it’s trade for in dollars at the moment. The USA is nothing but the body guard of big oil,I wouldn’t bet against the dollar to much, the body guard is paid in dollars. This is why the world is getting over run with dollars and inflation is not to bad for now. The dollar is back by oil control, it’s that simple, you should be careful about gold and silver, smart oil boys always like a gold bubble to play with on the side bet for fun. I just hope may pension got some oil stocks and GE stocks after all GE is a big supplier of body guard tools,and they get bail out money back by oil dollars. They should put a oil rig on the new one hundred dollar bill seeing they screwed up the last load of hundred’s. lol. peace

    • Greg

      Bob,
      You make some very good points here. You have one flaw in your thinking. You are assuming your brokerage will not suffer any damage from OTC Derivative in a systemic collapse. On that point, you are over estimating the financial health and counter-party risk to most brokerages. That’s where holding gold and silver coins offer protection a brokerage accpount cannot. You might want to do some homework in that area. Just a thought and a warning from a friend. Thank you for your comment, again, you make some really good points.
      Greg

      • Bob

        Systemic collapse, didn’t that already happen and OE EEEEEES took care of that. I’m just out here in dream, dream land , living under the kings law. I’m just saying the Empire could last another 20,30 years. The Kings who run this place we call America have the need for companies and workers to feed the army to protect the realm. If the realm falls were should we run with are gold. We workers can stand some inflation but laws and taxes more rule and the realm starts to get a little unfriendly. I’ll try to stock up on things I understand and whatever people spend gold on. PEACE

  18. Mountainaires

    I was astonished at that political theatre; that Obama had Clinton come in to pretend he’s the President., looked extremely desperate on Obama’s part, and shamelessly egotistical on Bill Clinton’s part. Clinton reveled in it. Obama looked small and weak, and desperate. But, then, I’ve been detecting the palpable air of desperation for months now, too. Bernanke’s lip quivering as he swore all is well on 60 Minutes was an alarming moment. He was trying to reassure HIMSELF as much as anyone else. Within 5 years, we’ll have a deficit of $19 Trillion. The American people are not prepared for what’s coming; it’s going to get ugly [it already is; the anecdotal evidence continues to pile up]. In Detroit, Mayor Bing has decided to cut services to 20% of the city, essentially washing his hands of responsibility; they’re bankrupt but they refuse to acknowledge it. Same calculation, writ large, for the rest of us from this administration and Congress: pretend and extend. But some day, the piper will be paid, whether we like it or not. We can’t continue on this course forever.

    • Greg

      Mountainaries,
      There will be inflation–Let’s hope no blood. Thank you for your comment.
      Greg

  19. slingshot

    Doesn’t it bother you people when you see an Ex-Politician being called in to save the day. Do you think the Congress has the stamia to pass strong legislation when we have a Weaping Speaker? On the other side we have a soon to become minority speaker who clawed her way into the position. Down the road we look forward to Palin who looks like she is in competition with Putin for ruggedness. Man O Man can we stop the Henry Kisinger,Jimmy Carter and others who just have to poke their finger in your eye. STHU, have a beer and go fishing all of you Ex-politicians. You are civilians now.

    • Greg

      Slingshot,
      Thank you for adding your thoughts today.
      Greg

  20. James M

    This is absolutely amazing to me. Clinton has to come out and hold Obama’s hand to assure us that everything is just fine and dandy? Clinton and his boys Summers and Rubin along with the great Mr. Greenspan are more at fault for this whole mess than anyone. They took away the restraints and railroaded Brooksly into the ground. This is all just pure theatrics at this point. There isn’t $600 trillion in wealth to satisfy this fraudulent derivitive casino. It is all phoney tomfoolery. Someone needs to get these idiots to gamblers anyomus lol. Move Wall St to Las Vegas. Too many people have figured out the game, confidence in the US government is at the bottom of the barrel at home and abroad. Something has got to give. The question that remains is how is it going to unfold? My personal belief is that history shows us that the fiat money will be printed to the end and devaluation will be the game. We will never return to the old “normal”. We have lost 10% of our good paying middle class jobs in one decade, what does the next decade have in store? 25% perhaps? However you look at it, it ain’t gonna be pretty. One of the reader comments about government employees was on the money, they will hurt the most as they have no real skills and they are used to getting something for nothing. I have no sympathy for them. Is this all being done on purpose? I think it is a global takeover myself but I am just a carpenter from Peabody Ma., so what do I know? I do believe in prayer Greg but I also believe in firepower and I give them each a 50/50 chance of helping. Prayer won’t help much when 20 hungry uninvited nutcases show up for dinner at your house. If you look at the riots in Greece for example, just imagine if half of the rioters were armed as would be the case here in the US. I pray for us all and I will fight for us all too. God bless the souls of all the good people that have been taken advantage of in the once great country of America and may we come out on the other side better off for this horrendous mess with a better understanding of the destructive forces of run away government power. We will, by historic decree, end up at war, whether civil or abroad and for what BS reason they make up remains to be seen. It is a classic situation to anyone who knows the past. When they start shutting down the internet, as they are now, in a desperate last grasp at power, it is game on.

    • Greg

      James M,
      You are one smart carpenter! I agree with your comments but I have one additional thing to say. Under the Bush Administration (43) The banks were allowed to leverage 40, 50 and in some cases 100 times their capital base. The gigantic OTC Derivative debacle was allowed to explode and mortgage fraud was rampant in the Bush years. The Republicans are just as much to blame as the Democrats when it comes to destroying the economy and maybe even the country. Thank you for your heartfelt well thought out comment!
      Greg

  21. Sean S

    Nice article Greg – as always.

    It’s fascinating that with all those Democrat supporting economists and financial gurus out there I rarely see anyone come onto this site and argue against the thrust of your statements and views. Other than the odd quibble at the margins 99.9% seem to be supporting comments.

    Looking forward to more of your commentary. Thank you.

    • Greg

      Sean S,
      Thank you for your kind words. I put nearly every dissenting comment up on the site. The only ones I do not put on the site are comments that are anti-semitic, racist, off-color, spam or down right crazy. I am happy to say I get very few comments I cannot put on the site (except for the spam.)
      Greg

  22. nm

    I’ve read everyone’s comments here and I know that things are going to get a lot worse, but again I ask, where else is the world going to put it’s money? America still has the rule of law, a court system that works and many other things.

    They’re not that many places in the world that have that. Australia, Yes. Canada, Yes, but after that, your options start to run very low.

    ***
    I will say that the biggest adjustment I’ll have to make in America will be in dealing with the increased crime rates, which I’m already seeing, especially here in Boston. In this respect, America may become as bad as other parts of the world. i.e. a huge under-class affecting your quality of life in a physically violent way. I can live through inflation, but violent crime is more scary for me.

    • Greg

      Thank you Nm and Bob for the comments.
      Greg

  23. iknowbetter

    “Everything is Under Control?” is a clever headline/title.

    It suggests we might be in good hands which are well “under control” of the various risks and situations, or maybe the bad guys have “Everything Under Control?” I vote for the latter. (Out of control is more like it.)

    I shudder to think what “everything” really means… in either context. Good and bad influences are both out of ‘control’ and ‘under control’ of big money.

    I share your feeling that “something bad is coming–and soon,” but ‘soon’ is kinda relative. A few months? A few years? A decade or more?

    Ten years ago I loaded up on gold and silver. The Fed and goofy monetary policy only enrich my precious metals position. And I’m somewhat in ‘control’ of my support of charities. So when it comes to ‘control’, I am doing my best to not be controlled.

    Keep up the good fight.

    ….ikb

    • Greg

      Iknowbetter,
      If you loaded up on PMs 10 years ago, you are waaaay ahead of 99.9% of people. Congratulations!! Thank you fore sharing your perspective.
      Greg

  24. Brad

    Greg, when you said, “I get the feeling”, I believe you hit it on the head. I’ve spoken to random people all over the country, and everyone over the past year has told me they feel something coming but just can’t quite put their fingers on it. It”s like the goats running for the hills before the tsunami comes. We, also, possess that ability. What is really alarming is that the evolution of what I call “preppers” is no longer in the “tin foil hat” category. It has, seemingly, moved into reality.

    • Greg

      Brad,
      Thank you for sharing your views on the comment I have made. Other people feel the same as you and I. Something is coming, and I don’t quite know what.
      Greg

  25. ewb

    Do you think it’s possible that by making public statesments that it is considering downgrading US government creditworthiness it is sending a threat to that government that Moody’s had better not be prosecuted for not downgrading the derivatives involved in the housing bubble?

    Thanks

    • Greg

      EWB,
      Who knows but that scenario would not surprise me. Thank you for offering that idea up.
      Greg

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