Better the Devil You Know?

We are providing around-the-clock nursing care to our invalid wife, who is back at home, with cracked ribs, unable to move. We are upstairs in the bedroom – the shutters closed against the heat (we have no air-conditioning) – taking a few minutes to update our Diary… but with nothing important to say.

 

2016_presidential_marathonEvery day, we look at the headlines, think about what is going on in the big wide world and try to connect a dot or two. It is probably the same in your life. You go about your business. You have work to do. Projects, goals, deadlines. Your priorities. Your investments. Your schedule. Your plan.

Cartoon by Ramirez

 

And you’re thinking, too – important thoughts about the presidential election…  about crime… about the state of the nation… and the world. For instance, will Trump really be a better president than Clinton?

Madame Clinton is clearly the devil-you-know. You can see the horns and tail for yourself. But what kind of devilish imp is Donald Trump? You don’t know. But judging from yesterday’s Diary Mailbag, many dear readers want to find out.

 

Deep State in Control

We’re keeping an open mind. But we suspect that, no matter who wins, most Americans will be disappointed. The next president might make marginal and largely symbolic changes. But suppose Mr. Trump were elected…

Would Congress put aside its squalid self-seeking and vapid grandstanding to rally behind him? Would it actually pass the new laws he asks for? Would lobbyists go home? Would Washington apparatchiks, operatives, wonks, and nebbishes get behind the new administration to “Make America Great Again”?

Would federal agencies stop enacting pettifogging regulations to benefit one special interest or another? Would the bailouts, subsidies, and insider privileges stop? Would the cronies lose their sweetheart deals? Would the zombies have to get real jobs?

What would really change? Medical care? Education? War? Bureaucracy? Taxes?

 

Hillary-DonaldDecisions, decisions…

 

Queen of the Establishment

The New York Times recently sent a reporter to cover Mr. Trump’s visit to the coalfields of West Virginia. The out-of-work miners are behind him. One said that the Republican candidate “could be our only hope.” Hope for what?

Yes, of course, the miners have been dealt a bad hand. And Hillary, Queen of the Establishment, has even said she would put more of them out of work.

The Deep State – with its millions of hangers-on, chiselers, wheeler-dealers, cronies, and zombies – produces no wealth. It can only grow wealthier (relative to the rest of the population) by taking wealth from others.

If it gives a subsidy to Al Gore’s solar power, it must take the money from the rest of economy. If it bails out the banks, someone must put up the money.  If it builds planes, bombs, and drones – the contractors get rich, but someone must pay. Who’s going to reshuffle that deck? And how? Donald Trump?

The press reports that economist Judy Shelton is one of his advisors… and that she favors a return to the gold standard. If Trump is elected, will she be able to reform the money system?

 

SheltonDr. Judy Shelton has joined Trump’s team as an economic advisor – she favors a return to the gold standard, which we find quite interesting. We recall though that a number of Reagan’s advisors also did so, at a time when it would still have been much easier to  return to a gold-backed money. One gold commission report later, the whole thing was quietly dropped. And yet…

Photo credit: Judy Shelton

 

Hmmm…. you are studying the dots, you are thinking all these things – about money and politics, war and peace, progress and civilization. And then something happens… someone in your family gets sick,  a divorce,  an accident…

Suddenly these worldly cares don’t seem so important. And maybe they never were.

 

The above article originally appeared at the Diary of a Rogue Economist, written for Bonner & Partners. Bill Bonner founded Agora, Inc in 1978. It has since grown into one of the largest independent newsletter publishing companies in the world. He has also written three New York Times bestselling books, Financial Reckoning Day, Empire of Debt and Mobs, Messiahs and Markets.

 

 

 

Emigrate While You Can... Learn More

 


 

 
 

Dear Readers!

You may have noticed that our so-called “semiannual” funding drive, which started sometime in the summer if memory serves, has seamlessly segued into the winter. In fact, the year is almost over! We assure you this is not merely evidence of our chutzpa; rather, it is indicative of the fact that ad income still needs to be supplemented in order to support upkeep of the site. Naturally, the traditional benefits that can be spontaneously triggered by donations to this site remain operative regardless of the season - ranging from a boost to general well-being/happiness (inter alia featuring improved sleep & appetite), children including you in their songs, up to the likely allotment of privileges in the afterlife, etc., etc., but the Christmas season is probably an especially propitious time to cross our palms with silver. A special thank you to all readers who have already chipped in, your generosity is greatly appreciated. Regardless of that, we are honored by everybody's readership and hope we have managed to add a little value to your life.

   

Bitcoin address: 12vB2LeWQNjWh59tyfWw23ySqJ9kTfJifA

   
 

3 Responses to “The Devil You Know – or the One You Don’t?”

  • wmbean:

    Do you remember the scene in Paint Your Wagon when the husband asks his second wife, “How do you know what’ll get?” Her reply is what many who would vote for Trump might say. “I don’t. But I know what I’ve had.” Of course in the long run we’re all dead. If Mr trump could also head a clean sweep of congress he might make as great difference. But as one can see from the sidelines few individuals, both businessmen and politicians really understand how nations and economies really work.

    So what is to be done? A revolution? Oh please. The idiots who could lead and win a revolution will lose any hope of real reform in the confabs that result. A dictatorship perhaps? It took the ruthlessness of Stalin to pull Russia out of the eighteenth century and into the twentieth. But even that was fraught with grave incompetencies. Centrally planned nation building and destruction never ends well. After all, it was only a year or two after the king was forced to sign the Magna Carta that it was abandoned by said king.

  • wrldtrst:

    Health truly is the most important thing by several magnitudes. I am very sorry to hear about your difficulties and wish you and your family the best possible.

  • FreemonSandlewould:

    More nothing burger from Bonner. In addition object to the conflation that Trump is to be considered repulsive as Shrillary the Old Crone.

Your comment:

You must be logged in to post a comment.

Most read in the last 20 days:

  • Trade War Game On!
      Interesting Times Arrive “Things sure are getting exciting again, ain’t they?”  The remark was made by a colleague on Tuesday morning, as we stepped off the elevator to grab a cup of coffee.   Ancient Chinese curse alert... [PT]   “One moment markets are gorging on financial slop like fat pigs in mud.  The next they’re collectively vomiting on themselves. I’ll tell you one thing.  President Trump’s trade war with China won’t end well.  I mean, come...
  • The Dollar Cancer and the Gold Cure
      The Long Run is Here The dollar is failing. Millions of people can see at least some of the major signs, such as the collapse of interest rates, record high number of people not counted in the workforce, and debt rising from already-unpayable levels at an accelerating rate.   Total US credit market debt has hit a new high of $68.6 trillion at the end of 2017. That's up from $22.3 trillion a mere 20 years ago. It's a fairly good bet this isn't sustainable....
  • US Stock Market: Happy Days Are Here Again? Not so Fast...
      A “Typical” Correction? A Narrative Fail May Be in Store Obviously, assorted crash analogs have by now gone out of the window – we already noted that the market was late if it was to continue to mimic them, as the decline would have had to accelerate in the last week of March to remain in compliance with the “official time table”. Of course crashes are always very low probability events – but there are occasions when they have a higher probability than otherwise, and we will...
  • Rise of the Japanese Androids
      Good Intentions One of the unspoken delights in life is the rich satisfaction that comes with bearing witness to the spectacular failure of an offensive and unjust system. This week served up a lavish plate of delicious appetizers with both a style and refinement that’s ordinarily reserved for a competitive speed eating contest. What a remarkable time to be alive.   It seemed a good idea at first... [PT]   Many thrilling stories of doom and gloom were published...
  • Claudio Grass on Cryptocurrencies and Gold – An X22 Report Interview
       The Global Community is Unhappy With the Monetary System, Change is Coming Our friend Claudio Grass of Precious Metal Advisory Switzerland was recently interviewed by the X22 Report on cryptocurrencies and gold. He offers interesting perspectives on cryptocurrencies, bringing them into context with Hayek's idea of the denationalization of money. The connection is that they have originated in the market and exist in a framework of free competition, with users determining which of them...
  • Getting High on Bubbles
      Turn on, Tune in, Drop out Back in the drug-soaked, if not halcyon, days known at the sexual and drug revolution—the 1960’s—many people were on a quest for the “perfect trip”, and the “perfect hit of acid” (the drug lysergic acid diethylamide, LSD).   Dr. Albert Hoffman and his famous bicycle ride through Basel after he ingested a few drops of LSD-25 by mistake. The photograph in the middle was taken at the Woodstock festival and inter alia serves as a...
  • No Revolution Just Yet - Precious Metals Supply and Demand Report
      Irredeemably Yours... Yuan Stops Rallying at the Wrong Moment The so-called petro-yuan was to revolutionize the world of irredeemable fiat paper currencies. Well, since its launch on March 26 — it has gone down. It was to be an enabler for oil companies who were desperate to sell oil for gold, but could not do so until the yuan oil contract.   After becoming progressively stronger over the past year, it looks as thought the 6.25 level in USDCNY is providing support for the...
  • The “Turn of the Month Effect” Exists in 11 of 11 Countries
      A Well Known Seasonal Phenomenon in the US Market – Is There More to It? I already discussed the “turn-of-the-month effect” in a previous issues of Seasonal Insights, see e.g. this report from earlier this year. The term describes the fact that price gains in the stock market tend to cluster around the turn of the month. By contrast, the rest of the time around the middle of the month is typically less profitable for investors.   Due to continual monetary inflation in the...
  • Flight of the Bricks - Precious Metals Supply and Demand
      The Lighthouse Moves Picture, if you will, a brick slowly falling off a cliff. The brick is printed with green ink, and engraved on it are the words “Federal Reserve Note” (FRN). A camera is mounted to the brick. The camera shows lots of things moving up. The cliff face is whizzing upwards at a blur. A black painted brick labeled “oil” is going up pretty fast, but not so fast as the cliff face. It is up 26% in a year. A special brick, a government data brick of sorts, labeled...
  • From Fake Boom to Real Bust
      Paradise in LA LA Land More is revealed with each passing day.  You can count on it.  But what exactly the ‘more is of’ requires careful discrimination.  Is the ‘more’ merely more noise?  Or is it something of actual substance?  Today we endeavor to pass judgment, on your behalf.   Normally, judgment would be passed on a Thursday, but we are making an exception. [PT]   For example, here in the land of fruits and nuts, things are whacky, things are...

Support Acting Man

Item Guides

Top10BestPro
j9TJzzN

The Review Insider

Austrian Theory and Investment

Archive

350x200

THE GOLD CARTEL: Government Intervention on Gold, the Mega Bubble in Paper and What This Means for Your Future

Realtime Charts

 

Gold in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Gold in EUR:

[Most Recent Quotes from www.kitco.com]

 


 

Silver in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Platinum in USD:

[Most Recent Quotes from www.kitco.com]

 


 

USD - Index:

[Most Recent USD from www.kitco.com]

 

Mish Talk

 
Buy Silver Now!
 
Buy Gold Now!
 

Oilprice.com

Diary of a Rogue Economist