We used to be creeping toward socialism. Now we’re galloping toward it, said Ruff.
Irvine, CA (PRWEB) February 17, 2012
“It’s great to talk to you. I can hardly wait to hear what I’m about to say,” commented Howard J. Ruff at the outset of his interview with the American Monetary Association(AMA). During its 26th podcast, the “How to Prosper During the Coming Bad Years” author predicted a dire future for America’s economy and gave tips for surviving extreme inflation.
“The problems that we face amount to socialism,” said Ruff. “We used to be creeping toward socialism. Now we’re galloping toward it.” Ruff believes the Obama administration has taken control of the auto industry, the housing industry and Wall Street. “In the process of throwing money at potential inflation, they’re causing inflation,” he said.
The next big step toward socialism will take place, Ruff said, during soon-to-come hyperinflation. He explained the only choice the government can take after that is price and wage control. As Americans have grown dependent on welfare, bailouts and stimulus packages to stave off economic collapse, America has painted itself into a corner with one inevitable outcome: hyperinflation followed by socialism. “The political pressures to go socialist are irresistible. It always promises a lot of things. Based on promises, nations turn to socialism,” said Ruff. In short, Ruff said, the government would be forced to become socialist under the Obama Administration.
Ruff and the AMA’s host discussed Zimbabwe, which recently went through hyperinflation. The price of goods went so stratospherically high that shopkeepers were threatened with arrest if they didn’t stop raising prices. The shopkeepers, in response, closed their doors, effectively forcing an end to capitalism in the nation.
To prepare for hyperinflation, Ruff suggested investing in gold, precious metals, and even commodities. He mentioned that, during times of inflation, an investor might see high return on investments in essentials like soap, motor oil, food, etc.
Howard J. Ruff began publication of The Ruff Times in 1975, which became the most read financial advisory in the world. His book, “How to Prosper During The Coming Bad Years,” is regarded as a benchmark in translating complicated subjects like economics in a clear, concise, easy-to-understand manner. He left the Republican party after President George Bush, Sr., said “read my lips—no new taxes,” on his show. Ruff is now politically unaffiliated.
About American Monetary Association
The American Monetary Association is a non-profit venture funded by The Jason Hartman Foundation which is dedicated to educating people about the practical effects of monetary policy and government actions on inflation, deflation and freedom. Our goal is to help people prosper in the midst of uncertain economic times. For information, visit American Monetary Association online.