Your Own Personal Declaration

declaration of independece

by Curtis W. Miller

I’m not a Gold Bug, but paper currencies will continue to decline until they reach their genuine store of utility value, as wallpaper or toilet tissue. The value of gold and silver will move much higher as they do.

The decades-long experiment with fiat money is reaching its inevitable conclusion. The volatility, leverage, and economic uncertainty of these policies have created bubbles, and are acting as a “tax” on prosperity. These bubbles are all connected, enabled, and continued through the coordinated actions of central banks. We’ve reached their final “end game” where the super-cycle of more debt, lower interest rates, and sequential financial bubbles has finally reached its climax. You might call it “The Fourth Turning”.

We know this because the same policies that for 20-plus years have driven finance-related profits higher have now inverted. Lower interest rates, additional debt, and more manipulation have finally led to lower earnings for the world’s biggest companies and banks accompanied by price deflation and lower earnings for workers.

Every inorganic action in economics contains elements of diminishing returns. Economic stimulus is no exception. At some point, additional credit and lower interest rates can no longer propel an economy forward because the resulting overcapacity and overleverage cause more problems than they solve. Growth inevitably slows. Defaults inevitably rise. Sooner or later, we’ll see a panic, perhaps bloodshed.

The financial crisis of 2008 was caused in part by government political and regulatory interference in the markets for decades. These same type policies have kept economic growth sluggish. Feckless immigration policies are worsened by a failure to limit those who get in, and to assimilate those that do. And most important, the redistributionist entitlement regime has weakened the citizens’ character, fostered selfish hedonism, and is on track to bankrupt this country.

Extravagance, ineptitude and corruption are more the rule than the exception in federal agencies.  Senior bureaucrats take very good care of themselves, serve the public poorly.  Millions of citizens have been living with the baleful consequences that the hypocritical progressive elites seldom encounter in their daily lives.

Three-fourths of the American people believe the government in Washington no longer operates with the consent of the governed; eighty percent of Americans also believe that an alliance of politicians, media pundits, lobbyists, and interest groups runs the country for their own gain at the expense of the American people, wrote Greg Orman and Pat Caddell in “RealClear Politics” June 5. Two-thirds think America is in decline. This long-festering anger and resentment, of those who smear them as stupid racists, neurotic xenophobes, and fearful “haters,” has now burst to the surface of political life.

Yes, the can may be kicked further down the road for a little while longer, as the working classes, up to, say, 100 millionaires, get further squeezed as the climax proceeds and the super elites set the direction and timing of the swings in volatility mentioned before. So the handwriting is on the wall, it would be behove you to plan accordingly as part of your own personal Declaration of Independence.

 



Categories: General, Political

Tags: , , ,

3 replies

  1. Good piece, Curtis. Add to that the fact that most politicians no longer even pretend to be constitutional. They run roughshod over the American people and bicker so among themselves that it’s now a huge victory to get a bill through, then they spend days patting themselves on the back.

    What they’ve done to the dollar and the financial situation of our country is criminal, yet they keep piling on the debt. It simply can’t last and our country can’t survive it.

    Like

  2. The hand writing seems to be on the wall. “Mene, Mene, Tekel, Upharsin”

    Like

  3. Well said, Curtis. I think you’ve summed up the danger of our current state very well. We live in scary times, and they’re about to get much scarier thanks to the liberals in charge.

    Like

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