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Issue for ...
September 14, 2008
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Dear Friends,
'Well, we'll all go together when we go. Yes, we'll all go together
when we go...'
I was just trying to come up with some nice depression marching
music, but that's all I could think of.
Picture millions of 1930's-era Americans marching happily with their
shovels over their shoulders, digging irrigation ditches for
Franklin Roosevelt's Works Project Administration (WPA.) Happy days
are here again!
A few years ago a friend took me for a ride in his $150,000 Robinson
helicopter off the shores of northeastern Massachusetts. At about
500 feet he told me (over the headset; boy was that thing loud) to
look down.
We were hovering about 100 yards off the beach where the water was
about 20 feet deep. Looking straight down, I could clearly see a
series of precisely parallel furrows in the sand. These were
obviously man made and not the effect of rippling sand. There were
hundreds of them, row after row, all at right angles to the beach,
stretching as far as you could see in either direction. You could
never have seen these standing on the beach. I'm sure they're still
there today, in case you want to go out and hover.
He explained that thousands of Depression-era WPA workers were paid
a penny a foot to dig furrows in the shore (the shoreline was not as
high in those days) as a 'let's prevent beach erosion' project,
knowing full well that the tide would just wash them away.
Tax dollars hard at work! At least everyone had a job. FDR put them
all to work. And the people praised him, the savior who got them out
of the Depression. Of course, it was his buddies the bankers (who
put him in office) who caused the Depression in the first place by
calling in loans and otherwise contracting over 1/3 of the American
money supply in just a few months.
But who knew? Once the people had been beaten down sufficiently, FDR
again rode in on a white horse with the introduction of Social
Security in 1935 and the people were thrilled!
A dog will not wander far from its food bowl, nor a taxpayer from
his mailbox when there's a check in there every month from Uncle
Sam. Exit the republic, stage left (far left, I might add.)
I've been writing about the coming Kontratieff Winter for several
years now. Is there a chill in the air? If you look at a graph of
the 12-month exponential moving average of weekly unemployment
figures, the wiggly line has dipped below the x axis for only the
fourth time over the past century. Each time presaged a recession.
Note that I said it has already dipped. Ergo, we are in a recession
already. What's next? Here are a couple of the latest blog posts at
http://financialrealitynews.blogspot.com
<< Bailouts Will Push U.S. Into Depression >>
http://www.cnbc.com/id/26656750
"... Martin Hennecke, senior manager of private clients at Tyche,
told CNBC on Thursday. 'We expect a depression in the United States.
We expect a depression, very possibly, also in Europe'..."
<< Once in 100 Years Credit Crisis, World Heads for Deflationary
Collapse >>
http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=6088
"Robert Prechter [says] ... 'the markets are telling us to prepare
for hard times, and a global spate of the worst deflation to be seen
in generations ...sophisticated money is cashing out, raising cash,
preparing for world deflation.'
<< The United States of America is the Next Argentina >>
http://www.marketoracle.co.uk/Article5990.html
"I have a bad feeling about what's about to happen. The Great
Depression is the closest that comes to mind... It's going to be
bad. It's going to make high school seem like fun."
But, but.... how could this happen? Don't the central bankers love
you? Could they all be this stupid, really? No, Virginia, they are
all very smart. Very smart, indeed.
Back in 1966, Sir Alan Greenspan (since knighted by the Queen of
England as the world's foremost counterfeiter) was a devoted protege
of libertarian objectivist Ayn Rand. In 1967 he wrote an essay
titled 'Gold And Economic Freedom' in which he called paper money
the 'shabby secret' of the central banker.
Fast forward 30 years and Easy Al is the world's leading central
banker and proponent of paper money. Who got to him?
You know all those new reality computer games you can play where you
get to start your own civilization, then see if you can conquer the
world? What if you were the capo di tutti cappi of the various
(mostly foreign) families who own the Class A preferred voting stock
of the banks that own the Federal Reserve?
To take over the world, economically speaking, you'd need to buy it
all up. Think Monopoly and Park Place.
You might start, as David Rockefeller did in 1976, by forming the
Trilateral Commission, the brain behind the Council On Foreign
Relations. You'd divide the world into three economic zones (get it,
three?, as in TRIlateral?), starting with the lowest hanging fruit:
Europe.
By 1999 you've got the European Union and the euro. Next up is the
American Union, now underway through treaties like NAFTA and GATT,
not to mention various Executive Orders that are melding America
economically with our northern and southern neighbors, soon to be
assimilated by the Borg.
Google 'Amero' for more.
Asia will be more difficult, which is why a little detour is
currently being taken to assimilate a fourth economic zone: Africa.
There's even a brand new ETF for your Africa play: iShares MSCI
South Africa Index Fund (EZA.) Count on this baby to go *way up*
over years to come.
Rockefeller's partner in founding the Trilateral Commission was
Zbigniew 'Zbig' Kazimierz Brzezinski, former National Security
Advisor to president James Earl 'Peanuts' Carter. Zbig is also
currently (and very quietly, I might add) the personal mentor of one
of the two Coke and Pepsi presidential candidates: Barrack Mohammed
Obama.
Of course, as always, this is just a massive coincidence. Nothing to
see here, folks. Keep moving along.
Personally, if I were trying to buy up and run the planet, I'd be
sure to start by lowering America's economic standard to that of the
global average, since it would be virtually impossible to bring the
world's average living standard up to that of post-WWII America.
I'd start by pumping (pimping?) up the money supply under Ronald 'Tefllon'
Wilson Reagan and getting a few generations of Americans used to EZ
credit.
After the housing and credit card booms, I'd pop the bubble, crash
the economy, come in with my unlimited supply of cash and buy up
every house from Baltic Avenue to Marvin Gardens and then some.
God, I love being a central banker! Hey, don't worry, none of this
is true.
OK, I was only kidding. It really is true.
But whatever you do, do NOT read 'Secrets of the Federal Reserve' by
Eustace Mullins or 'Confessions of an Economic Hit Man' by John
Perkins.
After you haven't read those, be sure not to read Beardsley Ruml's
1942 speech titled 'Taxation For Revenue Is Obsolete' or Tupper
Saussey's 'Miracle On Main Street,' either.
Personally, whenever I feel tempted not to figure out what's going
on, I try never to watch any of the many eye-opening videos in the
member area at http://www.WealthWeekend.com.
It would probably also be a good idea not to try to understand why
the Tax Act of 1913, the 16th Amendment and the passage of the
Federal Reserve Act all occurred within nine months of each other.
Anyway, back to the present. Where do we go from here? Straight down
would be my best guess. The velocity of money has dried up like a
Martian lagoon, in spite of brobdinagian injections of credit by
Benjamin 'Helicopter' Shalom Bernanke that would have embarrassed
Easy Al.
Like a cold, stalled engine low on oil, all of that credit remains
sitting congealed, at the bottom of the crankcase. Little of it has
made its way out into the general economy, which continues to
contract. Ergo, deflation, which leads to depression ('The hip
bone's connected to the thigh bone...')
When an economy is contracting just about every sector contracts as
well. Oil, precious metals, commodities and the stock market all
head down. Of course, when this happens you must switch gears and
start trading and investing in that direction (down, remember?), the
precise opposite of what 99% of all investors do.
Most of today's investors will copy what their grandparents did;
they'll ride Great Depression II all the way to the bottom.
This all reminds me of a 'Beanie And Cecil' cartoon I saw as a kid.
Cecil is sitting directly atop a smoldering volcano and remarks,
'Where can I possibly go from here?' The answer, of course, is to
start a hedge fund.
YES! What better time? After all, everyone is depressed (which is
why they call it a depression, right?.)
Unemployment is ratcheting up.
The markets are slip sliding away.
Housing has yet to find a bottom.
And the consumer credit card bubble is beginning to resemble the
Hindenberg.
What *better* time to start a hedge fund!?
It's true. We've already retained a top securities attorney to guide
us through all of the flaming regulatory hoops and the 'Liberty
Private Placement Fund, LP' is being formed in Concord, New
Hampshire as I write.
Those who wish to participate in getting the fund off the ground as
private lenders will be rewarded with a return of $10 for every $1
infused, with no lower or upper limits.
Don't have any money?
Can't even think about investing in a hedge fund, let alone paying
this month's HBO bill?
Then clean out the attic, sell that junk on Ebay, start turning
those empty soda cans in for the nickel and get ready for a video
I'll be making this week explaining how to hedge your way to fun and
fortune as all around you crashes and burns.
In the meantime, do what people did during Great Depression I...
Drink!
And May The Pip Be With You,
Gordon Philips for
THE INSTITUTE OF HIGHER EARNING
gordon@higherearning.com
.· ´¨¨)) -:¦:-¸.·´ .·´¨¨))
((¸¸.·´ ..·´ When you wish -:¦:- -:¦:-
-:¦:- ((¸¸.·´* upon a pip... -:¦:- -:¦:-
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WHAT IS THE HIGHER EARNING REPORT?
* A highly prestigious newsletter.
* A deeply cathartic literary experience.
* A financial air bag for your portfolio.
* A compass for your economic ark.
* A road map to riches ("You Are Here --> X")
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PUBLISHED BY:
The Institute Of Higher Earning
P.O. Box 113
Milford, NH 03055 USA
800-504-2340
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YOUR EDITOR
Gordon Philips, Senior Researcher, Head Trader,
Custodian, Home Schooling Referee and Complaint
Department Manager for the Institute
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OUR SLOGANS
'Conquering Debt. Mastering Money.'
'Build Your Own Ark. Quick.'
'So Many Trades, So Little Time.'
'Economy Bad? Grow Your Own.'
'What Goes Up...'
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FAVORITE $ SONGS:
'Million Dollar Girl' -- Eddie Money
'For The Love Of Money' -- The O'Jays
'This Golden Ring' -- Gary Lewis and the Playboys
'Ain't Too Proud To Beg' -- The Temptations
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LAST BOOK READ:
'Kluge: The Haphazard Construction of the Human Mind,' by Gary
Marcus
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CURRENTLY READING:
'Freethinkers' by Susan Jacoby
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WHY THE INSTITUTE?
Because you...
* Are still working at a J.O.B. (Just Over Broke)?
* Aren't getting enough pips (what's a pip?.)
* Got drunk and hired a financial planner?
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* Have too much month left at the end of your money?
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* Feel like someone threw a prosperity party and you weren't
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TELL A FRIEND
Got some friends you don't need any more?... I mean, got some
friends you're trying to educate about debt, finance, Forex, and the
blatant price manipulation of the stock, gold and silver markets?
Heh, heh. Why keep these pithy pecuniary perspectives all to
yourself? Forward them today's issue and invite them to sign up for the Higher Earning Report. Or
not.
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DISCLAIMER
Information from The Institute Of Higher Earning is provided for
educational and informational purposes only. No one on our utterly
wonderful staff is licensed to utter personalized financial advice.
Before trading or investing we suggest that you seek the counsel of
a registered financial advisor who is thoroughly versed in the
equities and currency markets and can demonstrate consistent success
in both. Warning: this may be a protracted search. Our work is based
on what we've learned as financial journalists and graduates summa
cum laude from The School Of Hard Knocks. It may contain errors and
you shouldn't make any investment decision based solely on what you
read here (watch MSNBC first ;-.) There is risk inherent in all
forms of trading and investing, from baseball cards to church bingo,
so don't trade or invest with money that you cannot afford to watch
go up in smoke and still sleep well. If in doubt, consult spouse.
Thank you. |
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