San Diego: Many times in the past I wrote about what i saw as the unintended but inescapable results of our current federal monetary policies. But since we have re-elected an administration that has been dedicated to this policy, against all common sense and historical data, I thought maybe it was just me that was out of step. So off I went for some in-depth economic and historical research.
One of my favorite sources of data, as you all know, is Stratfor where I go for some of the best open source intelligence about the world geopolitical and security issues. But another favorite is John Mauldin’s Outside THe Box blog. What i especially like about his newletters is that he often presents multiple sides of an issue and frequently re-publishes essays, white papers, and newsletters from major players in the world of economics.
In this case he has republished a paper from Dylan Grice of Societe Generale ( a major european bank located in France) bringing an unprecedented historical overview of what has happened in the past. For you pretenda Keynesians who believe he would support the current actions, he has a long quote from that same economic guru of the liberal progressives that may startle you and hopefully institute something radical… thinking for yourselves. After all his bank is from one of the leading European Socialist governments around. But to be successful, socialism, just like any other “ism” requires sound monetary policies to at least keep the elites well fed, in power, and with enough stuff to keep the public trough flowing.
So here is the link. It is long but the material in it is critical and objective since it did not come from our shores or from someone with a political axe to grind vis-a-vis American politics.
The issue for many is whether or not that trend can be reversed. I don’t think so; i think we have gone too far down this road to reverse it. Over and over from the late 1990s i said that by the 2016 election would would have cast in stone our path to either recovery of our core foundational precepts or gone over the edge to our ultimate social and culture demise.
Had the election gone other than it did I would ahve withheld judgement to see whether or not Romney could start a course change on this ship of state despite my misgivings as to either his ability or intention of doing so. But the re-election of a man, in my opinion, dedicated to the destruction of all that remains of that foundational system so he can lead the rebuilding of a new, transformed America along the lines of ther dreams of his father, I think we simply poured an ocean of WD40 on that slope and the likelihood of us escaping it are incredibly slim.
I am aware that many are in favor of the change that he talks about but I think they are terminally naive as to both what he REALLY is doing and where it will take us all. The link above and the white paper to which it goes provides one likely answer to that. And it is not one I am happy to see.