Political Promises and Wall Street Tripe

Ron Smith: Addison Wiggin is with us, Executive Publisher of Agora Publishing.

Addison Wiggin: Agora Financial, yes.

Mr. Smith: Oh, Agora Financial, which is Baltimore-based, and publishes The Daily Reckoning, which is a newsletter that I subscribe to; it’s free, so I like it.

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We’re Number One: More Reasons for the Decline of the American Empire

You will not find today’s Daily Reckoning much to your liking. Because it creeps upon an idea that will probably make you feel uncomfortable. At least, that is the effect it has on us.

But first, the latest news from the world of money.

Yesterday, the Dow fell 12 points. Gold shot up $30. And oil is headed back towards $100.

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The Mounting Debt of the US Empire Business

Not much was revealed in the markets yesterday. Everything went up. The Dow rose 38 points. The price of oil rose above $100. And gold rose too – up $3.

More evidence came in, showing that housing is weak. But no more evidence was needed.

Want to make some easy money? Buy a house! Get a DEEP discount on a distressed sale. Then mortgage the house for 30 years at a fixed rate. As big a mortgage as you can get.

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Economic Instability a Result of Extreme Imbecility

We were snowed in Tuesday, Wednesday and Thursday. By Thursday, essential supplies were running short. All we had left was two cases of red wine. Would that be enough to last until Friday? We had our doubts…

Cabin fever had set in. In desperation, we read the paper. Big mistake. The papers in Washington take themselves seriously. They tell us about congressmen, senators, agency heads, lobbyists, crooks, perverts and other politicos. One man has held up a liquor store. Another has waylaid an entire nation. These are the people who could be called the “power elite.” They are at the head of our government…they are leading and directing our great empire. Which only makes us wonder about the whole thing. Maybe a country isn’t so great after all…but just an accident…one that happens in spite of the dumbbells running it? And maybe an empire comes about not because of the drive and vision of the imperialists, but of its internal momentum…and on its own schedule…no matter what the nincompoops think.

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Must Read: While the Empire Crumbles its Capital City Surges

We wrote earlier this week about the Empire of Debt’s new financial capital, Washington, DC, and the theme seems to be catching on. Resident fellow at the American Enterprise Institute, David Frum, has now written a piece for CNN expanding on the topic…

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