The best argument against democracy is a five-minute conversation with the average voter. - Winston ChurchillThankfully this election season is finally over. This had to be the most brain-damage inflicting election I've experienced. I wrote a blog piece about a month ago in which I declared Obama the winner, why I was making that call and why it doesn't matter in terms of fiscal/economic policy who, or which Party, sits in the Oval office. The only difference it makes is to the specific wealthy individuals and corporations who purchased the winning candidate (see Citizens United v. Federal Election Commission).
The shame of this election is that the Republicans had a chance to win and blew it by nominating Romney. Obama was ripe for defeat. He's done a terrible job managing the country and he pissed off a lot of his support base by reneging on most of his 2008 campaign promises. Just like in 2008 when the country was set up to vote for any Democrat, the stage was pretty much set for an anybody but Obama election. But the Republicans had to select a candidate from an extreme Christian sect who is socially retarded, ethically bankrupt and a serial liar.
I think he could have overcome the latter two problems, but his stance on Roe v. Wade and planned parenthood alienated him from a significant segment of the voting populace - that would be women. The fact that he urinated on 47% of the electorate by being caught on tape saying "they don't matter" didn't help his cause either. And his coup de grace was picking Paul Ryan, the mentally challenged intellectual zombie from Wisconsin who looks like a cross between Eddie Munster and Pee Wee Herman. That sealed the deal as Ryan was seen as wielding a hatchet that would chop down medicare and other senior citizen entitlements. Game, set, match.
But, the good news is, the metals stand to benefit from a huge snap-back rally from the beating they took in October, which was partially from the irrational fear that a Romney victory would be bad for precious metals and primarily from the the automated black box hedge funds dumping the metals because October historically is negative ROR month. Well guess what? November, going back to 1971, is historically the second best positive ROR month. I would suggest that everyone reading this start loading up on even more gold and silver (not GLD, SLV, CEF or GTU). You'll glad you did when you look up in four years to see that outstanding Government funded Treasury debt is well over $20 trillion, possibly as high as $25 trillion. Gold and silver are already up $7 and 23 cents as I write this...