Socialists take over America
Without firing a shot, the socialists took over America today when Congress passed the $850 billion bailout package. Most Americans slept through it all and probably won’t realize what happened for years.
Backwoods Home Magazine will, ironically, benefit because Americans are going to have to be more self-reliant than ever. The magazine has just become the best buy in town when it comes to Americans spending their soon-to-be scarce dollars. I didn’t want to get rich this way, but I guess it doesn’t really matter. The all powerful Government will soon tax most of it away anyway and we’ll all be working for pennies.
But what the heck! Wall Street and the banks will be making money, right. At least for six months to a few years. With the Government’s new powers to control what we used to call capitalism, the politicians can float their friends on Wall Street for quite a while. The rest of us, unfortunately, will have to be hunkered down with back issues of BHM trying to figure out how to be more frugal with what money is left over for us.
It’s been fun being a free capitalist all these years. Too bad it had to all end today. Click here to subscribe to BHM so you can prepare for a grimmer future.
Here’s how members of the House of Representatives voted today to pass this nation-changing legislation.
October 3rd, 2008 at 6:31 pm
It truly is a sad day in America. Starting tomorrow, I will be selling everything I don’t need on Ebay and using that fiat money to buy back silver coins before precious metals skyrocket. Thank You Dave for all your hard work bringing us your magazine. One of the very few magazines that will really matter in the future!!
October 3rd, 2008 at 11:01 pm
Get ready for some pretty serious inflation. Whatever “rainy-day fund” BHM readers have set aside, some should be spent on easily-liquifiable tangibles, because the dollar will be up for a while against other currencies, but soon will dive as inflation from the money printing presses going into overdrive takes over.
Look for some deals on Wolf ammo soon. The Russian economy is tanking, and the dollar is gaining quickly on it, which should make Russian imports cheaper… for a while, until dollar inflation wrecks the party.
I’m considering, only considering at this point, credit to buy gold, with dollars set aside in the safe in the amount of the debt. If inflation takes serious hold, those dollars would still be equal to the amount of debt incurred, while gold should hold its value and go up considerably vs the dollar. Still thinking about that strategy. If dramatic inflation doesn’t happen, we still have the dollars in the safe to pay off the debt at a value equal to what it originally was.
October 4th, 2008 at 11:29 am
It is a shame, though Davidt, I think its a little late, precious metals have already skyrocketed, though it would not surprise me to see them go higher. Once again the politicians have sold out the best interest of the American people for the people who line their pocket with money, now they returned the favour and lined their pockets with our money, just remember this when it comes election day. even the local and state elections. though our choices may not be good, or many
October 6th, 2008 at 12:44 am
I for one will make it my mission to make sure those from my state who voted for the bail out will never hold office again!! I urge you to do the same. SHOW them how you feel about their vote.
October 7th, 2008 at 9:54 am
Commodity prices are tanking due to less demand. All other currencies are having to inflate their currencies as well as the dollar. What is for sure is rising unemployment and declining housing values. It would be nice if oil would drop back down to the $60 range like was a year and a half ago. Probably wishful thinking on my part but I think less global demand will certainly help to keep oil down for a while.
My son sells gold coins and he is having trouble finding US coins to sell to his clients. Apparantly, they don’t make ‘em fast enough.
October 8th, 2008 at 1:15 pm
If hard gold, not certificates is getting harder to come by, then maybe BackWoods Home could do some articles on Gold Panning? Easiest way (so to speak) to get gold with least expense is to pick it up out of the wild. I am not sure if it is illegal yet or not or what permits might be required.
October 8th, 2008 at 4:19 pm
10/08/2008 at 4:24p
Just listened to Dave Ramsey. He says the stock market is crashing because Obama is ahead in the polls and investors are reacting to Obama’s promise of higher taxes, more regulation, more spending.
Ramsey says things are shaking out, that the downturn in housing is natures’ way of cleaning house, so to speak. The deadbeats and fluff are being flushed out of the system, leaving the economy stronger than ever.
Exackery! Dave is muh man.