Biden is Burning Down the House!
“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”– Ernest Hemingway
By now you probably know that that Biden is burning down the house. Inflation has plagued American families on his watch. And now it looks like more war than even we expected.
And don’t think for a minute that the prospect is for “just” a two-front war. Events in the South China Sea look like they can easily boil over at any time over very little. A leaky, rusty bucket of bolts owned by the Philippines, a US ally, is the latest issue of contention.
Here’s Ron Paul’s description of Biden on the war front:
President Joe Biden announced last week that the United States would be funding – and possibly fighting – three wars in three different parts of the world at the same time. It is an ambitious foreign policy for a president who doesn’t even seem to be able to express a coherent thought without the help of a teleprompter…
As Biden demands another $105 billion to fund the wars in Ukraine, Gaza, and Taiwan, his speech seemed to have a touch of campaign rhetoric in it. “I’m told I was the first American [president] to enter a warzone not controlled by the United States military since President Lincoln,” he said in his speech. The statement is blatantly false, but he must believe it gives him an air of bravado.
With due respect to Congressman Paul, we think Biden is way past mere bravado. We think he is dangerously intoxicated on the Neocon’s war Cool-Aid.
Paul Singer of Elliott Investment Management says the world is much more perilous than markets are pricing in and that investors should be more worried. “The world is now completely dependent on the good sense of leaders to avoid an Armageddon.”
And inflation? It was two years ago that the Fed finally acknowledged that its inflation wasn’t “transitory” as it had insisted. Now the Fed has been raising interest rates for a year and a half! Yet today, Chairman Powell, after his record-setting intervention in the markets, confesses that inflation is still too high. And real (meaning adjusted for inflation) disposable personal income is down.
Let us use US beef prices to illustrate price inflation today:
So, Washington’s interest rate regime hasn’t wrung inflation out of the system, but as the following graph from NBC makes clear, it has assured that the median household income is no longer enough to afford the median-priced home:
Inflation and war. As Hemmingway said, “Both bring a permanent ruin!”
But of course, there is more: The Strategic Petroleum Reserve is practically empty. Washington is in chaos. Banks are on the brink. Digital currencies are on the fast track. And China is dumping US bonds.
None of this is good for your freedom and prosperity.
Biden is burning down the house! Better come see us at Republic Monetary Exchange. Better protect your family and your wealth with real money, gold, and silver.