Americans need to know just whose hand is on the tiller of our economic ship of state. We need to know where to point the finger for the unfolding disaster that is the U.S. economy. Periods of sustainable economic expansion must feature a strong housing sector, highlighting, of course, an upside trend in new home sales. No such trend, no sustainable economic recovery. My two charts provide you with a graphic report card. How do you grade America’s economic recovery? Without attempting to bias you, I give an F rating. Play the instructive video I have included to hear the story of printing the money that our Fed chairman tells is not occurring. Well someone is printing the money, because we are witnessing savage upside momentum in both the Adjusted Monetary Base and Excess Bank Reserves. Neither can occur without a whole lot of pump priming by the Fed.
Our American economic ship of state is floundering because those who are responsible for creating most of America’s jobs do not trust America’s leadership. I am pointing to America’s small business owners who have zero faith in either the Obama administration or Congress, especially the Harry Reid-led Senate. There will soon be a House vote on the debt ceiling. It is vital that full repeal of Obamacare is attached to the debt ceiling increase. If this does not happen, John Boehner needs to be replaced as leader of the House. He has been largely ineffective in the past, and I would be glad to see the speaker replaced, regardless the vote.
Back in 1976, currency expert Dr. Franz Pick wrote, “The depreciation of the purchasing power of the dollar did not meet with any opposition from the public whom it expropriated.” Dr. Pick may as well have written his pronouncement yesterday. In my regular strategy reports I tell subscribers exactly what I am doing to protect myself in terms of both personal and financial security. I write specifically to conservative, small business owners and retired and soon-to-be-retired investors who, over many decades of independent effort, have accumulated substantial capital that they wish to preserve. I welcome you to our family of subscribers. And if eight years of the neocon-influenced (see American Enterprise Institute and Project For The New American Century) Bush administration and three years of the Marxist-influenced Obama administration have worn you out, I can be of assistance. I invite you to click to my family investment management company, younginvestments.com, to set up an appointment. If you feel good about the course I take here at richardcyoung.com, you will no doubt feel right at home with our family investment management company.