Stocks Are Doomed, Only Cash or Precious Metals May Survive

February 12, 2009 | By: Dr. O

President Obama, his administration, and the Democratically controlled Congress are working as quickly as possible to spend as much money as possible on their constituent base, to consolidate their stranglehold on power. There is still no bank rescue plan, nothing in the "stimulus" bill to create or even slow job losses, and seemingly no understanding about the enormous amount of bad debt that is rapidly losing value and destroying the financial system from the inside out.

Home foreclosures are accelerating. We await a tidal wave of personal and corporate bankruptcies and the implosion of the commercial real estate market that will trigger more massive losses in the banking system.

In short, I have no confidence in the U.S. Government to "solve" the current depression. In fact, they will no doubt make it worse by socializing the economy and spending money obscenely. No wonder the only thing that's working is precious metals.

I cannot consider investing in any stock until this virulently anti-business administration is either voted out of office or starts to see things more rationally.

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Disclosure: None

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