I can’t disagree with the meme! Somewhere between the ‘50s and now, the public got the idea that feeding from the trough was the thing we should all be doing. I don’t remember, off-hand, who said it but someone said, “Democracy ends when the people discover that they can vote themselves money from the treasury.” That is what we have been doing for quite a while and it is coming back to bite us in the ass.

Speaking of biting us in the ass, did you read about the default on US debt from April? This article was a bit of a surprise because nobody in the news, anywhere, has said anything about this, although in retrospect you could have caught it happening in the markets for metals and BTC.