Peter Grandich joins us for the first time today to discuss what's going on with oil & gas, precious metals, and the stock market. Peter has been writing his newsletter for many years, and his biggest present concern is US debt. He describes the US as being in an eye of the storm--we've had the first wave and the back end, which is always worse, is rapidly approaching. Peter refers to the financial professional community as the dont worry be happy crowd. He describes the constant industry refrain that, "Stocks and bonds are always a buy," is just mainstream media propaganda.

The US has so much debt, that there's no foreseeable production of cash flow to service the interest rate, let alone pay down principle. Peter says the inevitable result will be a combination of three things: the debt is repudiated, renegotiated and monetized. We both agree that, the can can't be kicked forever. However, the major problem with any reasonable solution, is that the people that we look to for solutions are the very same people that got us into this mess in the first place. It's not a matter of which party, the political process is truly broken. Government has grown so big, that soon there will be more government workers than private. Once this occurs, Peter states,  "We'll never get the reform we need." The day of reckoning is just as certain as "death and taxes."

Please send your questions/comments to KL@KerryLutz.com or call us at 347-460-LUTZ.

Direct download: Peter_Grandich_01-17-2012.mp3
Category:general -- posted at: 9:27 PM
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Sydney Phillips of www.thecollegeconservative.com shows you how to get food stamps without really trying. She's a college student who was conducting a social experiment on how difficult or as it turns out easy it is to get food stamps, now known as an EBT Card. She goes through the motions, not really complying with the necessary steps, failing to provide require earnings data and winds up getting her card in the mail a month later. And best of all, she can get $200 per month, to feed a hungry family of one. For many students, but not Sydney, this is the difference between being able to purchase marijuana, go to social events or even take a trip home to see the family.

This is just another case of indoctrination. Show the young college students that it's not really that big a deal going on the dole and that everyone does it! This helps break down that stigma of being a ward of the State and sets the individual up to be a lifelong participant in the entitlement state. Not that there are not people who really do need such assistance, of course there are many, but the danger is that people become addicted to free money and benefits, compliments of Uncle Sam. This is a danger to our way of life and to the continued economic viability of the country.

Please send your questions/comments to kl@kerrylutz.com or call us at 347-460-LUTZ.


Direct download: TLR_151.mp3
Category:general -- posted at: 6:52 PM
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