Look Out Above for Gold and Silver Prices
By Greg Hunter’s USAWatchdog.com
Gold hit another all-time high yesterday, closing well over $1,450 per ounce. Silver’s closing price of more than $39 per ounce is the highest it has been in 31 years. Why the big jump in gold and silver prices? The answer is pretty scary because there are many reasons precious metals are heading higher. Let’s start with the most obvious —inflation. Kitco.com reported yesterday, “The precious yellow metal got a fresh influx of investment buying based upon heightened inflationary expectations, safe-haven demand and a weakening U.S. dollar index.” (Click here for the complete Kitco.com story.) You can give the same reasons for rising silver prices.
In the case of silver, many experts say it is way undervalued and will outperform gold as an investment. Asset manager Eric Sprott said Monday that one of many reasons the silver price is rising is that demand “is massively underestimated.” Financial writer Harold Goodman recently wrote an excellent silver article for SeekingAlpha.com. Goodman backs up the “undervalued” silver premise by saying, “This next chart (below) is from a brilliant article by Mark J. Lundeen, and shows the price of silver in constant 1920 dollars, but indexed for inflation using U.S. currency in circulation rather than a flawed metric such as CPI.” “The surprising result is that silver today is priced at only $0.16 in constant, inflation adjusted 1920 dollars, even though it was selling for $1.32 in 1920! To reach its equivalent 1920 price of $1.32 an ounce today, it would have to be priced at $296 an ounce. And unlike 1920, there is a serious shortage of physical silver inventories available for sale today . . . .” (Click here to read the complete Goodman article on SeekingAlpha.com)
Then, there is the budget situation in Washington D.C. that is pushing up gold and silver prices. Congress is arguing over cutting the bloated $3.7 trillion budget by less than 1 percent. Ironically, the issue of raising the debt ceiling from $14.3 trillion must be done in a few weeks or the government will be forced to default on its debt. Raising the debt ceiling is not an “if” but a “by how much” question. Odds are it will be a $1 trillion increase, and that amount will have to be borrowed or printed by the government. Investors around the globe are waking up to the fact that the U.S. will never be able to pay off its enormous debt with anything resembling the buying power of today’s dollar. Monday, a CNSNews.com story highlighted the “March Madness” of the Federal government’s insane spending. The report said, “That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 (billion) in net federal tax revenue for the month. The lion’s share of this federal spending went to redeem Treasury securities that had matured during the month—most of which were short-term Treasury bills that have terms of one year or less.” (Click here for the CNSNews.com story.)
Please remember, the Fed is printing a staggering $75 billion a month to finance 70% of the U.S. government’s expenses in what is known as QE2 (Quantitative Easing.) A star panel of experts I polled in January all agree that QE, or money printing, will not end. I reported back then, “In summary, all the experts I polled think QE Will Not End. That will surely mean an imploding U.S. dollar and exploding inflation. This is scheduled to happen by the end of June, making this the most predictable financial calamity in history.” (Click here to read the entire original post – Economic Stimulus: Quantitative Easing QE3) Creating money out of thin air is inflationary, and gold and silver are reacting to the government’s printing press.
The U.S. is now involved in 3 expensive wars that are helping to bleed the country dry. Even though the Obama administration promises no U.S. troops in Libya, the CIA is reportedly already on the ground there. Former CIA Officer Michael Scheuer thinks President Obama will be forced to choose between defeat or ground troops in Libya. In a recent CNN interview, he said, “The choice may come down to admitting it was a mistake and being defeated in the sense Gadhafi survives, or putting ground troops in. Nations are a lot like people, they don’t like to admit mistakes.” (Click here to see the complete Scheuer CNN interview.) Scheuer thinks Libya is a bad idea because it will cost enormous amounts of money at a time when America is “nearly bankrupt.”
Are taxes going up to pay for Libya or the wars in Afghanistan and Iraq? Of course not. The Bush tax cuts were extended–and why not? The U.S. can simply print money, and that devalues the buck while increasing the price of gold and silver. The world is fearful of possible supply disruptions of oil from North Africa and the Middle East. That, too, pushes prices higher, and nothing can stoke the inflation fire faster than higher energy costs.
The revolutions, unrest and wars in North Africa and the Middle East are not going to be resolved quickly. The nuclear catastrophe in Japan will not be cleaned up soon, and may not be cleaned up in some areas in a hundred lifetimes. Japan will need cash, and the U.S. will print more money when Japan sells its huge treasury holdings to raise money for rebuilding. Likewise, there is no end in sight for America’s debt and budget problems. All these things signal a “look out above” for gold and silver prices and a “look out below” for the value of the beleaguered buck.
I’m new to your site and writing, but have been impressed by your insight and by the comments of your writers. I see the correlation you made between revenue going up and no one wanting to reduce debt. But, I totally disagree with your comment, “That didn’t work…” Your standard of judging whether cutting taxes worked was whether we reduced debt. That is the WRONG standard. Although you acknowledge the REVENUE WENT UP, you tie the lack of will to cut debt into the equation. While cutting spending and paying down debt is a critical component of the cure, so is raising revenues. You admitted that an increase in revenues occurred with both the Reagan and the Bush tax cuts. That does NOT equal “That didn’t work…”
Thanks again Greg for setting the record straight. Where is the urgency in the public opinion. I don’t hear anything from the news or our government officials about how dire this situation is. Our time is limited to prepare for this catastrophe, yet the football lock out is bigger news to the average joe. The problem as I see it is the people I talk to do not register the urgency of responding to this information as we discuss it, but I’ll bet you i’m the first one they come to when their broke, hungry, and out of options. It’s comming sooner than anyone can predict so be ready. The more people we can inform the better off we will all be.
Can someone explain why the price of silver has also increased in Canadian dollars even though Canada isn’t printing truckloads of paper money or running up an obscene level of debt? Are these two currencies independent of each other, or are they tied by a relationship that I’m not aware of? I’ve been thinking of opening a savings account in Canada because I think the U.S. dollar might drop significantly against the Canadian dollar.
All fiat currencies and banks are interconnected. Gold and silver will rise above them all regardless of which country prints the paper and how frugal they are. You still can hold Canadian dollars as a hedge against US dollars. Canadian dollars will win but gold and silver will trump them.
Do a search on taxes for foreign bank accounts. The IRS can take 80% if you do not follow the new rules.
1st of all, Silver price is volatile so it is prone to overshoot or undershoot your expectations. In general, the Canadian Currency is not exposed as much to market forces. (Certainly not as much as the free-wheeling dollar…) If you see unusual behavior, it might be cartel related. i.e. it is a currency controlled by the syndicate.
Canadian interest rates being kept artificially low and probable Canadian goverment purchases of U.S. dollars and securities all because of need for trade exports to the U.S. At some point the umbilical cord will have to be cut.
Greg, every point you make is true and accurate, but you left out some other external influences. The ECB is about to raise interest rates and China already has. This is causing a further flight from the dollar and US treasuries……follow the money. As the dollar continues its decline, commodities (PM’s, grain, oil) will rise as they are valued in dollars. In spite of what helicopter Ben says, this the very definition of inflation.
Larry Edelson said If Gold closes above $1453 for two consecutive days then this will be very bullish. We closed above that yesterday and it needs one more day to confirm it. Big breakout coming soon.
the sad fact is, that the typical (average) american middle class family today cannot afford to purchase enough gold or silver to do them much good when it finally hits the fan and the ecomomy does its contrived nosedive to make way for the new amero and canada, mexico and the u.s. become one large financial entity in the new world economy.
the average american family, with any luck, may be able to purchase a few hundred to a few thousand dollars worth of precious metals, but to what end? a few days to a few weeks of food to sustain them until the stockpile of metal runs out? and who are we going to trade with once it becomes evident that the bag of apples we possess is worth way more that all your gold?
gold and silver hedging is, in fact, a rather elitist concept on its own.
in the real world, what is going to have to take place in the u.s.a. is the same thing that is taking place in egypt, lebanon, libya, etc.. only it will have to be a natural uprising, nor one orchestrated and fueled by the c.i.a.. i don’t want to see this happen and it saddens me that the world has come to this point. but,sadly, it has to happen.
the world is controlled by sociopaths who have little to no redeeming human value. while they have managed with diabolical cleverness to actually conquer the world, they are not objectively intelligent human beings even though they would have us believe that they are the “intellectual elite” among us.
if we do not reel these inane murderers and thieves in, god help us all.
it is a gordian knot and the only bold stroke left is justice.
it is not about the economy any more. we are smack dab in the middle of a cross roads as a species. the direction we take will determine if humankind will collapse under fascist self servitude or flourish under liberty and vigilant self governance.
while the undeclared wars we are fighting today are indeed draining our economy, do not forget that they are at the same time filling the coffers of the likes of kbr, boeing, jpl, browning, etc, etc, etc. and those profits will not be trickling back down to us any time soon,
our enemy is not islam. our enemy is wall street, our enemy is fleet street. our enemy is a disease called sociopathy.
hard to be concise here, as there is so much more to this. but i will leave it at that.
Amero is a big hoax. What makes you think that Canada or Mexico would go along with this and be dragged down to the U.S. financial level.
i, honest to god, hope you are right. but one thing we know for certain is that the u.s. dollar is definitely a hoax. but i get the feeling that you are just not yet ready to wrap your mind around the fact that the downfall of western economies is a well planned out contrivance that has been going on in the u.s. since at least the 1860’s. the thrust being to diminish and demean middle class america as well as our national sovereignty in order to reduce the kicking and screaming as we are dragged unhappily into the new world of central elitist control. yes, someone is conquering the world. and it looks like they are gonna succeed. did western europe believe that the euro was a hoax 2 years before it was sprung upon them? you bet they did. and they were asking questions like: “how are you going to get france and italy and spain, etc., to go along with this. and the answer turned out to be quite simle. nobody bothered to ask them if they wanted to go along. at least nobody asked the fine people of these countries. the banksters just did their thing and “viola!”.
even easier for the amero as mexico is in worse financial shape than we are (hard to believe there could be a worse, but true) and canada is not really a sovereign nation and will go along to get along with mother england. (whom, you may have noticed, managed to somehow keep their pound sterling)
jim, i have been paying attention to these so called “conspiracy theories” for over 45 years. i started out as a cynic, to disprove the “conspiracy theorists” of the day. and i have to say that the theoretical part lies more in understatement than it does in overblown fantasy. when ray bradbury told us that truth will be stranger than fiction, he wasn’t just whistling dixie.
“the amero is a hoax? it can’t happen hear? wake up laddy, it is happening here.
I pulled about $20k out of a 5% annuity last summer and bought physical silver delivered. It is well hidden and spread out. It might have been the smartest thing I ever did considering that even if the annuity compounds I could never get a 100% return in 9 months and if the economy recovers, which I do not see happening, I can sell out and put the origional 20 back in and walk away with 20 in hand. I need to diversify into gold. They are both going to go up as long as QE….23 continues, the Fed has no way out but war. I have never made an investment in my life prior. I know I did not really make any money, I just didn’t lose any. I am very concerned about Syria and the fact that we are heading into the possibility of major war breaking out. Oil is going crazy and as we are all addicted to the stuff I see it possibly becoming a huge problem. The oil man in Saud said he thinks we will see US$200-300/barrel if there is unrest in the kingdom. China spent billions in Libya(gone)and Russia has a big naval base in Syria. Russia now sells oil to China in non dollar currency. The lines in the sand to cross are becoming closer and clearer. The US is forcing the hands of both Russia and China. Who holds the aces and who is bluffing? We shall see soon enough. Interesting to say the least. It is a very nice day out here in the northshore of Boston, 50’s. Think I will go have a beer in the yard with the dogs and not concern myself with such for a bit. Thanks Greg
Americans can’t afford gold? I think Americans can’t afford NOT to have gold. How many IRA’s are there out there in Mutual funds and stocks.(Paper) Those can be transferred to a physical gold and silver IRA with no penalty or tax charges. Any defunct 401k or 403b can also be ROLLED OVER INTO PHYSICAL GOLD WITH NO PENALTY OR TAX CONSEQUENCE. Get your heads out of the sand people and put a percentage of your assets in something that has not lost it’s value for 5000 years. You have all heard the story about the suit of clothes and a twenty dollar gold piece and a twenty dollar bill but look at silver. If you will remember just in 1960 a silver quarter would buy a gallon of gas….. Guess what? A silver quarter today has about 5 bucks worth of silver in it. Still buys a gallon of gas. Precious metals don’t lose value. Fiat Currency does.
Gold and silver value (not prices) are only a reflection of the rapidly approaching new reality.
There will always be those who will deny that the entire western financial system is F.U.B.A.R. You know the term, denying it, finger pointing or making excuses for how we got here won’t change the facts. There is no intention from any of the politicians or bankers of doing anything to fix the problems at their root cause, OTC derivatives. The European Union has outlawed naked CDSs (credit default swaps) which is at least an indication that they are trying to do something. Whether it will prove too little, too late or not, time will tell. The chances of anything like that happening in the US are absolutely ZERO.
To say it is very late in the game is an understatement.
The times of any kind of normal conditions, however you might want to define them, are gone and they’re not coming back any time soon. One needs only look at the FACT that before the crisis of 2008 the Federal Reserve was buying between 10% and 15% of US Treasuries, now they are virtually the only buyer and by this action alone they are consigning the Dollar to its doom.
Only buy adjusting our attitude and action to new realizations is there any hope for getting to the other side with any semblance of intact wealth and security. This applies at both the individual and societal level
The system has already failed, act accordingly. There are no political champions waiting in the wings with the will or ability to fix it. Even if there were, there exist no means that could be applied that would not in the short term cause an even more severe economic dislocation than we are already faced with. Even if there were some practical solutions left (and there aren’t), neither the banks nor the politicians would allow them to be applied because it would diminish their power.
We have embarked on a third war in the Middle East and it will be impossible to disengage as the chaos spreads. It is utter madness and no good can come from it. The revolutions and wars in the Middle East are not pro Western and not pro democracy, they are anything but.
Look back at what the price of commodities were 2 years ago and what they are today. By the time we reach the next election they will look like bargains by comparison.
If you are holding physical bullion and food stocks hold on to it as it will be the only insurance you will have and you’re going to need it. Show some pity for those who would deride you for holding insurance, they will be the first victims of their own hubris, but be careful, for as the rug is pulled out from under them they will blame you for their situations and many of them can and will resort to violence.
It is not a question of if the prepared will prevail. We already have prevailed. Our holdings will be the only discount to the hyper-inflation that is already written on the pages of history, nothing can or will stop things from being turned to that particularly ugly page. But we have to get to that page before we can move on to the next chapter.
For those of you who remain skeptical, get a clue, neither the Democrats nor the Republicans have the courage to admit what’s really going on, even if they do, nor do they have the slightest inkling of what to do about it. Their loyalists will be the first to be abandoned when the S.H.T.F. One more thing to keep in mind as things unravel: Ideological purity and political loyalty are the first things dissolved in the churning acids of an empty stomach.
Very well said!
I like johnson’s comment and I have the similar question about storing silver/gold coins for barter. If one ounce of gold coin is worth $1500 today and the dollar currency actually collapsed tomorrow, the gold price shot up to say $10,000 per ounce. Then what happens if I want to buy one $2 candy bar with my $10K gold coin. How does that work? It doesnt make sense. Help me understand.
you gotta help yourself understand. we have never been there before. anything is possible. so, put your imagination to work. couple possibilities from my imagination to help you get started. you are not going to take you 10k gold piece to safeway or the corner grocery store because they are both out of buisness. if you really really need that candy bar you are gonna hafta walk up to a razor wire chain fence and ask for peaceful admittance to an armed camp that is currently run by your old neighbor john smith who used to run the local united grocery wholesale outlet and had the foresight to invest in things like food, seeds, fuel, clothing, etc. he also had the good sense to invest in 50 or so ar-15 assault rifles and a couple shipping containers full of ammo with which to proctect said investments (oh yeah, and some able bodied buddies to man the weaponry) so, you have gained audience with mr. smith and are asked what your needs are. you tell mr. smith that you would like a candy bar. mr. smith says that he just happens to have a few in stock and wants to know what you intend to trade. you show him your gold piece. at this point, one of several things can happen. mr. smith can turn out to be a kind hearted soul and give you the candy bar for free and let you know that your gold piece is worth a couple sacks of flour and a case of creamed corn. (make that deal, there will likely not be a better one down the road.) or: mr. smith can just chuckle and advise you to go home (if you still have a home) and eat your gold coin. or: mr. smith can spend one of his multitude of bullets to relieve you of the misery of having to live in this brave new world and just help himself to your gold piece. keep in mind that catching mr. smith is a crap shoot in the first place because he and his band of new world gypsies are constantly on the move being chased by “u.n.” troups being paid for in canned goods by the rothschild nwo social adherence program, and don’t do a lot of advertaising.
will things get that bad? who really knows? one thing that is for sure is that mankind is going to be tested. will compassion and humanity will out in the end? let us hope and pray. but don’t delude yourself into thinking that this is guaranteed.
That’s why you need silver for the small transactions.
Money is a store of work. I will mow your yard for $25, but don’t want to consume any goods as soon as I’m finished so you pay me with money(dollar, gold, silver) and then I can wait till I want to spend my ‘work’ on a good or service. Gold stores more ‘work’ than other forms. Also gold will not be worth much at the beginning and middle of a SHTF senario, but when trade starts up again and you want to buy a house, land, horse, anything we would consider a big ticket item I’d rather have a money purse of gold than a plastic card, or worthless piece of paper.
As for your 2 dollar candy bar, start thinking of things that have equal value to it. Small pieces of silver, copper, even .22 bullets, or learn a skill like making soap, woodworking, or anything that produces something that satisfies a need/want. Learn how to make a candy bar on your own.
3000 years as being a source of money doesn’t make sense, but a piece of paper that is back by nothing but faith is crystal clear. Stop falling down the rabbit hole and wake up.
Yes, I have AR-15s/ammos, tons of gold/silvers, some food stored and just build our vegetables garden bed in our backyard. I put that “candy bar” as an example of how the trading works with a gold coin that didn’t make sense to me, but you guys gave me some ideas of what might happen when it comes to trading in the new world. Wow, I can imagine what it will look like in this collapsed America. Just the movie “The Road”.
Thanks guys for the input!
Greg, the data coming is getting worse every minute. PMs are now a must to just survive & millions just don’t get it. My son in-law is off to Walmart this morning for junk they don’t need. Also, zerohedge.com has become a place to fast changing news across all spectrum’s of news world wide. After reading a great article about US spending compared to tax inflows, we are spending 8 times the tax inflows, but this one yahoo said that after April, the government would be no longer paying out tax refunds & our tax inflows would cover our debts. Where do these people dream up these numbers? Expect massive attacks on why Silver & Gold are in a bubble on top web sites like seekingalpha, but the posters put them straight by providing the data the US & Fed leaves out.
To stay well informed, besides Greg’s site witch is great,www.jsmineset.com, Jim Sinclair’s friend Trader Dan has set up a blog,www.traderdan.net, http://www.harveyorgan.com,www,silverbearcafe.com & please watch Mike Malony video of the week for some great info you will need,www.kingworldnews.com,www.tfmetalsreport.blogspot.com,www.zerohedge.com.
PLEASE READ TODAYS ARTICLE FROM PROFESSOR ANTEL E.FEKETE TO RON PAUL AT,WWW.GOLDSEEK.COM ASAP it’s a new twist in how fast things are sweeping our nation as more corruption is exposed every time the clock ticks. Thanks again Greg for vital data…..
I GOT PHYSICAL!!
I buy CASH from an ANCHOR coin store. My store sells to all the others in the area. I’m in West Chicago Sub. LOTS of people. In the last week or two he is charging $4 over spot for Silver Eagle. Use to be $2.50 than $3 now $4. He has not given me a 2011 Eagle YET this year. My guy gives me 2003, 1999 or what ever he has. Buying Mexican Lebatard for $2 over spot. Says he is getting $3-4 for Silver Dollar over spot. Starting to get crazy.
DON’T be afraid to start buying 1964 or pre dimes(MERCURY), quarters or halves. DONT think you can’t get in because money is TIGHT. Make a roast and eat it till you drop but get a little so you can get a little more later
There is one other commodity that will serve you as well or better than gold and silver. That is arable land with access to water.
No joke. Having a stash of precious metals is a good thing, but you can’t eat them, and when a Silver eagle will buy a tank of gas, what do you use to buy a tomato and a chicken?
My father’s family survived the depression quite well with the little family farm.
You can buy land with IRA money and run a small farm on it.
When asked for advice, Jim Rogers told the morons at CNBC to learn to drive a tractor and have land to use it on. He was not kidding and he is a gold bug.
If history repeats itself, and the gov outlaws owning gold, a plot of land will still produce precious, trade-able goods. Gardening is fun and healthy.
Our small plot supports our family with fresh veggies and fruit, rabbit meat and eggs year round.
Cool, where can I get rabbits that lay eggs?
greg, I really dont see a realistic answer to this problem.
so if a person borrowed long term as much as possible and then bought as much gold and silver as they could what could possibly go wrong.
Isnt this almost a “no brainer” or is there actually somthing that can be done to fix this problem keeping babyboomers in mind.
p.s. already long silver and gold.
Question for anyone who dares to answer it:
I’m about to use my tax refund cash to buy Canadian Leaf Silver coins. I’m going to buy them online (based on the links I got from this site) and I hope I don’t get cheated.
However, once I have my coins what good will they do for me? Should I just sit on them and store them in my house forever? and keep buying more if I ever get extra cash?
What are you guys doing with your PM’s?
Educate yourself. There is plenty of info on the internet. As for myself I will not sell any precious metals investments until interest rates go positive. (meaning above the rate of inflation)
…not just an investment (or insurance), but use PMs for barter when dollar crashes.
First of all you need to have a place to store them, I have a gun safe that is bolted into the concrete floor. Wouldn’t recommend a safety deposit box, because you can’t get to it whenever you want. It’s no ones business to know that you own them as well. Loose lips sink ships.
PM’s are worth their weight in piece of mind to me, besides I have absolutely no faith in any elected offical right now. I’ve bought and sold for the last two years on craigslist and have done very well. You won’t be an expert on PM’s at the beginning and you’ll make mistakes, just keep talking with people and you’ll figure out what’s right for you.
Greg, http://www.harveyorgan.blogsot.blogspot added a new chart on wed,4,6,2011. It has great data about comex your readers can use! Would be great if the CFTC used it to bring charges against the on going crimes across the PMs sectors! Harvey up dates each night. Aslo a news flash,4,12,2011, the CFTC will meeting 9.30am to set posistion limits, I thank Harvey Organ for this news!!!
I think the NY Times article this week points out how serious the situation in Japan really is and getting worse. You have a radioactive wasteland an hour drive from Toyko with no hope of recovery in our lifetime. I guess thats why all major corporations have empty offices in Toyko!
-Who would purchase any seafood from that part of the Pacific and soon any Pacific seafood ?
-Who would travel to Japan and any parts of Asia?
-Who wants to buy a car built in Japan…..Honda, Lexus, ToyotaSuzukio, Nissan, Acura, Infiniti………..or Suzuki?
-Who wants to buy electronics or component parts made in Japan?
My friend who just came back from China says the air is so bad even before this radioactivity….it is colored BROWN! Now how would you like to inhale?
Thanks for that link to the article by Harold Goodman at SeekingAlpha.com.
16 cent silver is an eye opener! Just goes to show how far the silver pricing could go, even without a financial collapse.
Please keep up the good work….color me “a silver buyer” for as long as I can pay with paper.
Incisive as ever Greg.
Appreciate your views on this:
1. With fiat currency losing value, what’s the risk/reward prospect for forex trading?
2. Where’s the money? Forex, commodities or both.
3. Is there a bigger opportunity in trading gold beside buying physical gold?
Greg, the three stoogies could do a better job running the government
Darn good analysis.
Let me tell you a little story.
My Mother, who is 88 and grew up in the Depression, had a Godmother who was a practical woman. Even though it was depression, this woman managed to buy a house. Now, even though the FDR administration unConstitutionally declared ownership and use of gold as legal tender illegal, many people still did, including Mom’s Godmother, because they did not trust paper money. True, they still had silver (although silver dollars oddly enough weren’t struck after 1933!), but gold was preferred (gold coins were denominated as far down as $2.50). Mom used to receive $5 gold pieces for her birthday and First Communion (although her spendthrift mother would spend these coins for her!).
Gist of this story? That less and less people trust fiat, which is rapidly declining in value, and are fleeing to “hard money,” gold and silver. I only pray that more people wake up and, even though prices are now high, to buy before things become too late.
Another thing signaled is…. VOLATILITY NOW!
You wrote: “Are taxes going up to pay for Libya or the wars in Afghanistan and Iraq? Of course not.”
When government raises taxes, revenue usually goes down as people change their investment habits to avoid or deter the higher taxes. Don’t make the mistake that neo-Marxists make, which is using static analysis. Human nature must be a part of the tax raising metric.
JFK understood this, why can’t we learn. Dynamic analysis must be used when trying to RAISE REVENUE.
Cutting spending is the only way. If granny needs to eat Hormel chili beans for dinner, LIKE I AM, so be it! I am tired of being a HAVE NOT, while the HAVES who work for government and who tax me to DEATH, continue to whine!
SHUT IT DOWN! CUT SPENDING RIGHT NOW! Every delay that Obama gets, should be countered with a doubling down of the cut demanded. Up the ante every time he balks. The House should demand $100 B now.
$100 B is a drop in the bucket.