Nail me to the Barn
Oct 25th, 2007 by Randy Toman
The economy and the state of our banking system are in bad shape and on the verge of collapse. People would quickly say, “You Goof” what are you talking about “Rush” said it was OK? That immediately puts me on the defense and in the position of proving my point. Proving my point is not going to be hard, what is impossible, is convincing you that my assessment and corrective measures should have been taken years ago, and that it just might be to late to correct anything. The last sentence will get me words something a lot worse then “You Goof”.
But before you nail me to the side of the Barn, allow me just a couple of words in defense. The Bible says, I know, I know, you can’t use that book, but I will for it is God’s word and I can’t get any higher authority then that.
Proverbs 22:7 (King James)
The rich ruleth over the poor, and the Borrower is servant to the Lender.
Do I need to say anything more abut how good the economy is? YES—NO.
Maybe I should tell you that both the government and the people have record debt and what makes this debt so much worse is that our enemies are the lender in a sense they are buying up our treasury notes. China owning $900 Billion worth and billions each year going to the oil guys that want to cut off our heads.
Here is another interesting observation that may not be original thinking but I have not seen anyone talking about it in this light. The sub prime lenders are going bankrupt along with the borrowers now that’s a new twist. The sub prime market of the housing industry is in real bad shape and I don’t think everybody has sung yet including the lady. One newsletter put it this way.
“Losses the financial institution are publishing are considered by Media as having extinguished all the risk. I don’t believe that.”
Jim Sinclair—Posted 10/23/07
The very idea that credit and borrowing is wealth is a perversion of economics 101 thanks to Mr. Greenspan. The Federal Reserve and Mr. Bernicke have put the dollar in terrible jeopardy and its’ technical position has been compromised. Mr. Bernicke has the money factories working over time printing money like there is no tomorrow and maybe there isn’t and that is not good.
The Weimar Republic had that problem were you needed a wheel barrel of money to buy loaf of bread. How did they correct the problem they put a guy by the name of Hitler in charge.
Now you can nail me to the barn but I do hope the Republican Leadership will come and visit me in 2009, my address will be
Barn Side Everywhere USA.