Tuesday, May 17, 2011

Bitter Clinging - 2011

Our Dear Leader was heard talking about our unwashed masses during a campaign speech in Berkeley in 2008. He said we "bitterly cling" to our guns and religion. Yep.

Fast-Forward to 2011, and our clinging just added a third item: Gold. Why? Could the first Trillion-dollar deficits have anything to do with it? Maybe 2+ years of job losses and a common realization that the better days are behind us? Or maybe part of a sound investment prediction that Obama and the Fed have royally screwed the pooch and the only return to a sound economy will be to link our currency to gold? Maybe all of the above.

The Daily Reckoning, a site we've never seen before so we cannot vouch for its objectivity, has an article about this 3rd clinging item: Consumers and Investors Seek Protection with Guns and Gold.

Something serious is going on here. America’s economic recovery may be much weaker than advertised, while her economic vulnerability may be much greater than widely believed.

Confident citizens do not usually buy record amounts of guns and gold.

Full Disclosure: We cling to all three.

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