I’m absolutely stunned; I still can’t believe what transpired over the last 36 hours. What looked like a positive Romney move ended up with Obama getting elected. I knew Romney was doomed when the Ohio vote boiled down to the 4 major urban areas, there truly was no hope. The same thing goes for Miami-Dade and the Virginia I-95 corridor.
These voting patterns show a disconnect in these communities. I cannot understand why there are no real African American leaders speaking out on the inability of the Democrat party to improve their life. I know this is a result of 50 years of race pimps like Sharpton and Jackson screaming racism every 5 minutes and while shaking down major corporation’s but really when is enough, enough? The under 30 vote was also unbelievable, I guess being unemployed or underemployed with massive student loan debt, limited job prospects and living in Mom's basement is OK as long as those evil Republicans who want to protect innocent life and try to keep America safe are not in the White House.
Our founding fathers were right, when people know that they can vote themselves other people’s money that's it game over for our type of society. While the Romney/Ryan budget plan was vague at least they recognized the fiscal cliff and knew they needed to do something about it. The current administration and the majority of the fools in the House refuse to admit what reality is. Everyone with a 401K should have been woken up by Wall Streets reaction today. Most of us will have no choice but move out of stock funds to either bond or money market as the street will continue to bleed, these actions will only force the market even lower.
Everyone needs to educate themselves on what is going to happen with contained fiat printing and QE to infinity and excellent resource is
The biggest problem I see is when the money/bond bomb does go off the FSA (Free Sh** Army) will suddenly see either massively decreased benefits or the inability to purchase basic need items because of inflation. The riots you will see here will be many time worse than what is going on on Greece and Spain right now.
If you can, purchase gold coins and pre-1964 silver coins, not as an investment but to preserve your purchasing power, also consider buying extra canned goods now and storing them away. This is also a hedge against the coming year’s food inflation. The USA with any uptick in bond rates could resemble Argentina in 2002-2003 in a matter of days. This is not a good scenario for anyone, it will make the shortages like we see in the Northeast right now look like Disneyland.
I don’t know who said it first but any industrial society like ours is really 9 meals away from anarchy.
Some other excellent resources are
Some folks will think that this is going overboard. I don't disagree but when the financial system goes south and it will, the government will not be there to hand you a ham sandwich.