It's Only Your Money: Why Worry! What's a Little Corruption Among Friends

Red State is sounding the alarm about the TARP money ... you know the money that was supposed to bolster the economy, shore up failing banks and the auto industry, but we'd get it back and all would be well NOT. SEE HERE

Increasingly Washington is looking like a funnel of our tax dollars to special interests of the party in power. You might as well call it bribery and corruption since the stench arising from the swarmy mass of folks with their hands out certainly smells that way. In my whole life I've never seen corruption so blatant. At least earlier corrupt folks had the good sense to keep their corruption under wraps. Lyndon Johnson had others take the fall for him. There's quite a long history of this sort of thing on both sides of the aisle. What is new I think is the scale and the breadth.

My fundamental concern is that the scale in the face of our already unstable financial health is such as to trigger a serious depression. I don't say that particularly lightly. I've never been more concerned and I'm following a number of serious financial analysts that are currently in cash and trying to find investment vehicles that won't tank with the economy. Following a recommendation from Peter Navarro, an excellent financial analyst, I went into foreign stocks and Australian currency with what was left of my meager savings after the market tanked. If I'd paid a bit more attention to some of these smart folks I'd have gone into cash a lot earlier. Since then I've seen a nice rise in my holdings and that would be nice if it were not for the fact that it is mostly an advanced that measures the decline of the dollar. Watch what they do and not what they say. In particular keep an eye on the price of gold and oil which are both tangible goods whose price represents the cost in dollars of a real good. As the price rises it means at least in part that the value of the dollar is falling. Obama's administration looks like one of the most corrupt in history and it is tanking the U.S. economy faster than even Jimmy Carter managed to do. Be watchful!