Ty Andros of TraderView and TedBits and I do the weekly wrap up today, Friday, April 20. Not much is happening in the world today other than Spain, Italy and the global financial system continuing their respective marches toward implosion and oblivion. As Lady Margaret Thatcher once said, “The problem with socialism is that eventually you run out of other people’s money.” In the US and Europe, this happened long ago. Only now are we seeing the results of profligate uncontrolled government spending and the ceaseless expansion of the welfare state.
If you’ve been following Ty and me, you know there’s nothing happening now that wasn’t long ago predicted by the Austrian Economists. For nearly 100 years, Mises, Hayek and Rothbard, among others, have been warning the world this collapse would eventually occur. Now, the clock has run out and the politicians have absolutely no idea what to do about it. You however, can do a lot to avoid going down with the ship.
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