Surprise, surprise — QE3 to the rescue, just in time to help Chairman Obama get reelected. The Wall Street arm of government is, of course, jubilant, because it means stocks are almost certain to shoot upward.
But what most people — including those in the media — cannot seem to grasp is that the stock market has very little to do with unemployment, the cost of living, or the economy in general. The stock market is a highly sophisticated game, played by professionals. So if you’re not a professional, my advice to you is simple: Stay out!
Of course, a tsunami of new toilet-paper money will hasten the advent of the Weimar Republic of America, but who cares? Let the good times roll, I say. I mean, everyone looked so happy in the Roaring Twenties, didn’t they? Sure, a lot of people jumped out of tall buildings and caused somewhat of a mess below, but that was just a minor inconvenience.
This time around, as always, where the most money will be made and lost is in the housing market. Bungler Bernanke’s printing exploits will likely give people — especially real estate speculators — a false sense of optimism, which could be the start of a new and bigger housing bubble than before. I’m talking about prices ultimately dropping another 50 percent or so from where they are today.
Of course, smart, non-greedy speculators will have the opportunity to make a lot of money very quickly by buying and selling the right kind of real estate, at the right time. But, as always, the Homer Simpsons will get caught with their pants down and their mortgages up when the next real estate bubble bursts. And burst it will — guaranteed.
Of course, the safest place to put one’s Weimar dollars is in gold and silver, which are likely to shoot past $3,000 and $75 per ounce, respectively, in the next year or two. And fiscal reality doesn’t give a rat’s buttocks who happens to be in the White House.
The endgame, of course, is hyperinflation for sure, and possibly runaway inflation. And once that happens, look for the pampered natives to get nasty — even violent. Not to worry, though. You can count on the government to bring in the heavy weaponry and crack heads when that happens. Thank heavens we have the feds to protect us.
So, Benny Boy, bring it on. I love being a witness to history.
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Copyright © 2019 Robert Ringer
ROBERT RINGER is a New York Times #1 bestselling author and host of the highly acclaimed Liberty Education Interview Series, which features interviews with top political, economic, and social leaders. He has appeared on Fox News, Fox Business, The Tonight Show, Today, The Dennis Miller Show, Good Morning America, The Lars Larson Show, ABC Nightline, and The Charlie Rose Show, and has been the subject of feature articles in such major publications as Time, People, The Wall Street Journal, Fortune, Barron's, and The New York Times.
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