Insanity is Appealing While Over Confidence is Plunging | Gold …
By: Elizabeth Kraus
While the leading winds of an impending economy storm is on the rise, with few having a clear view of the changes to come, each reporter telling their version of what may lie ahead, I’d like to shake things up and take you back to the Stone Age, where people gathered around the drinking hole to dish about who was clubbing the hottest babes and what to do about what belongs to whom. And if you weren’t happy, a big bang on the head took care of that. In ancient Rome, supposedly the ‘more civilized’, the economy flourished with shiny bling and baubles, and when they got bored throwing Christians to the lions, they sat around “kiki-ing” about Nero’s hairdo.So, what’s new pussycat?
What has changed? You figure! From the dredges of the Greek and Etruscan civilizations with supposedly more common-sense and no nonsense farmers, to our modern world America, the political economy of the poor huddled masses of our shrewd Yankee traders and practical down to earth plowman are back in the same craze raged socially accepted lunacy, except in four-inch-high gladiator boots and metallic ‘blade runner” suits considered not just appropriate day wear but also worth mortgaging a house in the Hamptons for…
Roman civilization fell because inequality spawned arrogance by its elites. Could that be America’s doom as well? I say, I hope not! But when I see, overconfidence in the rich and famous, who do everything from finding nirvana to falling on their liposuctioned asses, narcissism no better than then the miss calibrated, meaning that our senses of the probability of events doesn’t line up with our reality.
When laws of supply and demand are replaced with scarcity and abundance, we better open our eyes and understand, that the present is not enough, and predicting the future has little value without understanding the driving forces behind the trends. The scarcity-abundance shift does not ignore the laws of supply and demand – but somehow changes them.
I was listening to one of my closest friend. She mentioned that she had a neighbor on her street that lost his house. However, it was not because he couldn’t pay the mortgage, but because the county raised his property taxes by something like 50% which pushed him over the limit to be able to keep his home. He lost his house to the government. I suspect as governments continue to go broke, so will a lot of people who will see their taxes go through the roof. With sales tax or fee increases you could simply stop using certain services or buy less, but with property tax, you’re locked in with no choice to guess who, the Feds. I suggested to my friend to have reserves for any further possible calamity, including more job loss and more rising taxes coming our way.
More and more people who used to pay their mortgages first and let their credit cards slide are paying their credit cards first because they are going to lose their house anyway and they want to keep their credit card lines open. So, let’s not chose deafness and blindness as a crutch. Harry Schultz, the worlds highest paid investment consultant, original founder of the entire investment business, in his 36th year of publishing gives this short interview with the Swiss Newswire, ‘Daily Bell:’
“Daily Bell: Do you believe in a power elite that is trying to create a one-world order?
Harry Schultz: That there is a power elite is a given. Only a fool could not know of it. So, do they want a one-world order? Not all, but enough do to make the effort. We all know that power corrupts, and there is natural tendency to want to assure control. Some persuade themselves they want control for the good of others. That is rubbish of course, but self-delusion comes easily.
Daily Bell: Where is gold going? Silver?
Harry Schultz: Much higher. Sky is the limit for gold. Governments are losing control of gold