Quote of the Night

From Dave Kopel, who was tracking how the 2nd Amendment fared during this election:

As Barack Hussein Obama, the Juan Domingo Peron of the 21st century, leads America to fiscal collapse, you can at least keep your guns.

All I have to say is: Justice Scalia, Justice Kennedy… is there a health club membership we can buy for you? Feeling OK about your health care? We can help!

I am not in an optimistic mood tonight. I think we lost, and we lost big. Americans want America to be a European style social democracy. Maybe with a Second Amendment, but maybe not. It is not yet written. But one thing is written that that European social democracy is running out of other people’s money, and we will soon as well. Regardless of Romney’s loss, that fact does not change. Germany can bail out Greece for a while, but no one can bail out us. When we hit rock bottom, it will be epic, and with Obama re-election, I think it is coming. Be prepared.

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17 thoughts on “Quote of the Night”

    1. One thought about the fiscal situation and prepping:

      Perhaps you don’t want to put (too much of) your wealth into gold. But if you accept that we’re going to hit a Federal fiscal cliff at 100 mph fairly soon (absent the House going into Massive Resistance mode), then moving some of your savings into tangible things that will retain their value makes a lot of sense. For those savings look likely to be confiscated by inflation, if not more Peronist measures like confiscating the nation’s 401Ks, IRAs, etc. (as has already been mooted here; the Federal government is going to get very desperate sooner or later).

      Just don’t make any big bets on timing, that seldom works out well.

      1. Gold may be best for long term financial prepping, but I’d prefer to be sure I’m gonna survive long term. Food, Ammo, and Fuel are the big 3 in my opinion. The ability to feed yourself, protect yourself, and keep yourself warm are the biggest worries if everything does collapse.

        If people are starving the wealthy man will be the guy who has bread to sell. Those who have gold will happily give up all they have to eat.

        Good luck all, I feel we will need it in the next 4 years….

      2. Gold can collapse too. You don’t want to be the last one “holding the bag” when it goes down.

        1. When has that happened (serious question)?

          Note I discount anything in the period after American were again allowed to own it, December 31, 1974 to, say, a least a decade later.

          In deflations, it’s said gold is invaluable because it’s the only liquidity that doesn’t depend on something else’s liquidity.

          1. So you are discounting when the Hunt Brothers tried to corner the silver market? This chart is inflation adjusted so it makes it hard to see the real gold prices but I remember a period back in the early ’90s when gold fell because countries were selling their gold stockpiles. Gold bottomed out at around $250 an ounce. http://www.macrotrends.org/1333/gold-and-silver-prices-100-year-historical-chart

            Don’t get me wrong. I’m fully invested in gold and silver but I’ve been selling for the past five years.

            1. Even more so the silver price gyrations due to the Hunt Brothers.

              Surely you accept that massive short term manipulations or countries liquidating their gold stockpiles don’t change long term fundamentals? I mean, gold is gold, but it too is subject to the law of supply and demand.

              Although in terms of fundamentals industry is using less of each, right? Less gold used in computers, very much less in photography?

  3. We are so much worse off than the EU states. We have far more debt and far more unfunded entitlement programs. Get ready for your dollars to become worthless. Lets see if the DJIA drops today, or should I say how much it drops. The sell off is about to begin.

  4. Looking at the futures markets this morning, the only one I see trending up is gold. The dollar, the Dow, the NASDAQ, and the S&P 500 are all trending down.

    I agree about buying a heath club membership for all of the Heller/McDonald Five.

    If there is a bright spot on this literally dark, wet, and gloomy day, Democrats have to defend 20 out of 33 Senate seats in 2014.

    1. When you control most of the seats, you have to defend them. I’m confident that the GOP will run incompetents from the god-squad who will find a way to lose.

      1. You may be misreading the results of Akin and Murdock. To quote Professor Legal Insurrection (who’s right about Steelman, at least from my vantage point at the other end of the state:

        Wrong lessons will be drawn from the Senate races. We nominated a moderate who lost in a Wisconsin which rejected the recall of Scott Walker. Todd Akin was not a Tea Party candidate, Sarah Steelman was and a divided field allowed a weak candidate to win the nomination. [Plus plenty of careful advertisements from McCaskill to pick her ideal opponent]. Richard Mourdock’s comments, while not Akin, were damaging, but that is not why Mourdock lost; Lugar and his supporters undermined Mourdock all summer and fall before his comment, and had Republicans in Indiana been unified, Mourdock would have won.

  7. And my shares of Ruger are up over two bucks today… and it’s still early!

    1. You’re welcome. I went out and bought an SR9 yesterday. better get some more 17rnd mags for it as well I guess.

  8. As far as the EU Bailouts go, keep in mind that if the IMF wasn’t picking up the difference that Germany can’t, that House of Cards would have collapsed months ago.

    And guess which country funds more of the IMF than any other? Subtile Hint: You live in it.

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