Warning: If you have a politically conservative political persuasion, you may find this editorial hard to read.
But as a stock, precious metals and energy analyst, my job is to deliver winning trades and help you leverage economic conditions into healthy profits.
Sometimes that means you disagree with my interpretation of what’s happening right now. But I hope you’ll agree that having more information and a different perspective can help you to make bigger returns later.
While you may not like my reasoning — or my contempt for some political extremists — I encourage you focus on my forecasts. Consider it a hedge against your own political beliefs.
My goal is to help you provide for your financial security and retirement. To succeed, you must see the world as it is, not as you wish it could be.
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Debt vs. Slavery
Former Alaska governor and 2008 Republican vice presidential nominee Sarah Palin found a new way to demonstrate her ignorance last week. Speaking at a political fundraiser in Iowa, Palin said:
"Our free stuff today is being paid for by taking money from our children and borrowing from China. When that money comes due — and this isn’t racist, but it’ll be like slavery when that note is due. We are going to be beholden to the foreign master."
Palin does a tremendous disservice to the conservative movement. She is one name on a long list of undereducated, misinformed political celebrities claiming to be conservative lions.
These buffoons appear on TV news shows every night to predict economic ruin and bemoan the nation’s spiritual spiral downward. Now Palin says we are on the threshold of being enslaved by China.
This is plain nonsense! Governor Palin and her fellow extremist friends need to face three facts…
- There is zero risk of the entire national debt coming due at once.
- There is zero risk of debt enslavement.
- There is a very real risk the U.S. will default on some of its debt to China and everyone else. Palin’s own allies very nearly made it happen last month.
The government shutdown cost our nation an estimated $25 billion. A default on the national debt could cost our country $1 trillion or more.
She also fails to grasp how slavery works.
- Slaves can’t print money to buy their freedom.
- If a slave suddenly comes into money, or anything else valuable, it is not the slave’s to keep.
- Debt is not slavery. Debtors are debtors and slaves are slaves.
Misunderstanding these basic facts simply proves the emptiness of Palin’s own rhetoric.
A steady stream of such nonsense drove Palin and her party into extreme disfavor in swing states — and kept them from winning the White House in 2008 and 2012.
Investors Must Face Reality
Sarah Palin’s fundamentalist theology keeps her focused on the "end days" instead of the bright future ahead. Investors would be wise to ignore her.
Investing in fairy tales that say the world will end soon or China is going to enslave you is a surefire way to lose money.
The most-successful investors are those who accept reality. Here it is:
- The United States borrowed U.S. dollars from China.
- It is therefore obligated to repay the debt with U.S. dollars.
- We are not obligated to repay China with our liberty, or our gold, not with oil and certainly not with our enslavement.
We will pay our debt to China in U.S. dollars and nothing else. It’s just that simple.
Because China owns so much dollar-denominated debt, it would never serve Chinese interests to hurt the value of the dollar. A strong dollar means more Chinese exports and more buying power for its imports.
As for the U.S. economy, Palin and her legions would do well to pay attention to the Federal Reserve Vice-Chair Janet Yellen, who will soon take the reins from Ben Bernanke. Dr. Yellen has a firm grasp on economic reality. She will promote the policy changes needed to create new wealth and prosperity.
Ironically, Gov. Palin compared debt to slavery in the course of promoting her new book about Christmas.
Christ knew about slavery. He saw it with his own eyes. The Jewish people experienced slavery before, during and after his time on earth.
Jesus nevertheless taught charity and love for everyone, even our enemies. He would have looked quite liberal to Sarah Palin.
I know this may be a bitter pill, but it’s true. Policies that unjustly deprive the poor are inconsistent with Christianity.
Gov. Palin would do well to postpone her book selling tour … and take an extended ride with the nuns on the bus.
Good luck and best wishes,
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