LIVING IN A FOOL'S PARADISE

Is the financial sky falling?

Are the chickens coming home to roost?

Is it time to pay the piper?

Are we now reaping what we have sowed?

These mixed metaphors are attempting to describe what is happening in the economies of the world.

The U.S. is bound hand and foot to Japan and China for its debt.

Have we been living in a fool's paradise and on borrowed time?

American food and fuel prices are rising faster and faster.

Milk, meat and oranges are no longer take-for granted and relatively cheap commodities.

I've known for some time that the best thing that money can buy is some land with a self-sufficient water supply.

Grow your own food.

401k's will not feed you if the world economy collapses.

Neither will all of those gold and silver coins.

America (love or hate her) still is the barometer for what happens in the economies of other nations.

Is the world at the end of its tether?

“The leaders have repeatedly lied to us about the true nature of our economic situation. The people have allowed themselves to be sucked into a fantasy that now increasingly resembles a jet engine. And we know what happens to the pigeons which end up in the belly of a jet engine. The Powers that be may yet continue the delusion for a while longer. However, they cannot change the fundamental economic reality underlying the stock market declines, or the housing collapse, or the dollar collapse or the rise in precious metals prices.”

Doug McIntosh

August 8, 2007