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March 14, 2013
It's Time to Stock Up on Precious Metals, Guns, and Ammunition
If you are a regular reader of American Thinker, you already know that our nation's debt and deficit problems are unsustainable. We need to look no further than the European Union to understand the problems associated with welfare states run wild. The violence in Greece is a harbinger of things to come in the United States if we fail to take action to get our nation's fiscal house in order.
It's as simple as 1, 2, 3. No nation can spend its way out of a debt and deficit problem. It is true, however, that a growing economy produces increases in tax revenue that can be used to eliminate deficits and pay down debt. Unfortunately, while our economy was rapidly growing, members of Congress and our presidents including George W. Bush and Barack Obama increased spending at an even faster pace than revenue growth. It was foolish; it made no sense; and it brought us to where we are today.
Unfortunately, President Obama doesn't think we have a problem:
Obama has now admitted that he doesn't want a balanced budget -- even eventually. He also doesn't think we should worry about the national debt because it's not an "immediate crisis". In fact, Obama thinks we're in a "sustainable place" -- his words, not mine. This kind of ignorance will force the rest of us to pay economic hell, eventually.
Ignore everything this individual screamed at the top of his lungs in 2006 when another party was in the White House -- suddenly, he doesn't care about radically exploding debt, and doesn't think you should either. His economic maturity is like a child who refuses to take medicine for an illness because he isn't dying yet. It could kill us -- or at least the economy.
I wrote a book in which I addressed Obama's adolescent behavior hoping that we would elect a president with more common sense, but I overestimated typical voters in the U.S. This is what I said about the president:
Childish behavior is something we don't want or need in our president, and Barack Obama has behaved childishly since the day he took office. At home and abroad, he has disgraced himself and our country with his juvenile antics. Unfortunately, he seems to be unaware of his problem, but leaders around the world are. So are people in this country--everyone who isn't an Obamanista, that is.
I'm not a psychiatrist or a psychologist, so I won't make any attempt to psychoanalyze the president. I'll leave it to professionals to try and figure out the root cause of Obama's problem, but as a citizen of the United States, a taxpayer, and a person who cares deeply about the effects of our nation's policies on people in other countries, I think I have a duty and a responsibility to address the problems I see--problems that are readily apparent. The issues we face as a nation and as a world are too important and the risks are too great to place them in the hands of a juvenile or a person who thinks and acts like one.
As things stand now, we have a president who fails to recognize economic reality, Democrats in both houses of Congress who go along with the president on everything, a Senate that is controlled by Democrats who make Obama look like a wise man, and a population that is addicted to entitlements. That is a recipe for disaster. Seth Mandel said that as long as Democrats control the Senate, things aren't likely to change:
But that brings us to the other way to balance the budget: the old-fashioned way, by simply spending responsibly. The challenge here is twofold: first, it does not have the enforcement mechanism the amendment would (hopefully) have. And second, the Senate is controlled by the Democrats and President Obama still has no plans to dramatically cut spending. Entitlement reform is necessary, but it's also easy to demagogue. As President Obama has made all too clear, if the Republicans want to reform entitlements, they have to control Congress and the White House; they won't have any help from Democrats who are always thinking about the next election.
Mandel is correct. To deal with our fiscal crisis, we must elect Senators who understand that we are facing a crisis. That means electing Republicans. That's not a political statement because I'm not a Republican. It's a factual statement that can't be refuted even by dimwits like Paul Krugman of the New York Times. In the history of the world, no nation that routinely spends without regard for resources has survived. It's foolish to think that the United States will be the exception.
I had hoped that after four years of dismal performance in office, Barack Obama would not be re-elected, but as I said, I didn't appreciate how ignorant voters in the U.S. are. Judging by the 2012 presidential election, I am not overly optimistic about the odds of Republicans taking control of the Senate in 2014. I'm not saying that it can't happen. I'm just pointing out that it makes no sense to believe that it will happen.
Even if Republicans do take control of the Senate, maintain control of the House, and convince the president to act responsibly, we still face daunting challenges because people who are addicted to entitlements aren't likely to give them up without a fight, and by that I don't mean a political battle. I'm referring to violence on the streets of cities and towns across America.
I'm not a pessimist. I'm a realist, and that's what I think is likely to happen. As I said, we can look to Europe and see what takes place when entitlement addicts are forced to accept austerity measures. If you think that it can't happen here, you need to think again. If I am correct, we are on the verge of chaotic conditions in this country that could easily spiral out of control.
That's why I believe that now is the time to acquire precious metals, guns, and ammunition while we still can. Think of it as buying insurance. If what I fear will happen doesn't occur, then you will own assets that are likely to increase in value, and you can actually use the guns and ammunition as a form of recreation. If what I fear will happen does take place, you will not be in a position to buy the things you need and to defend your family. In any event, at this moment in time, precious metals, guns, and ammunition look like good bets to me.
Neil Snyder is the Ralph A. Beeton Professor Emeritus at the University of Virginia. His blog, SnyderTalk.com, is posted daily.
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