Unpopular Presidents Are Dangerous

Are We in for an October Surprise? [The Daily Reckoning] October 08, 2022 [WEBSITE]( | [UNSUBSCRIBE]( Unpopular Presidents Are Dangerous - Are we in for an October surprise?... - The path from depression to war… - Unpopular presidents are dangerous… [GONE: your shot at 102% gains in 6 days…]( Hate to say, “I told you so”… But we’ve sent you a countless number of emails trying to draw your attention to this unprecedented [wealth-building opportunity.]( And according to our file, you still didn’t take action. And that’s a shame. Because you just missed your shot at a 102% gain in 6 days – in the middle of a market selloff. That’s the bad news. The good news? We’re issuing a brand-new buy alert right now with money-doubling potential. [And you can go here now to get in position to receive it before you miss out again.]( [LEARN MORE]( West Hartford, Connecticut October 8, 2022 Editor’s note: According to most polls, Joe Biden is a very unpopular president. In today’s reckoning, Jeffrey Tucker shows you why he believes unpopular presidents are dangerous. With the midterm elections one month away, could we be in for an October surprise? [Jeffery Tucker] JEFFREY TUCKER Dear Reader, Here we go again. Gas prices bottomed out and are rising again. This will feed more public anger going into the November elections. The Biden administration is blaming… OPEC. It’s like he is trying to recreate the 1970s. The Putin excuse is wearing thin. But even in the midst of this, the crazy White House still emphasizes that it is trying to shepherd a “transition” away from fossil fuels toward clean energy. Electric cars are only a way station before they try to concoct a car with sails and solar panels. In other words, these people are nuts. Sorry to put it that way but there is no need to sugarcoat things when industrial civilization is being deliberately and systematically dismantled. How close are price controls? Closer than we like to admit. There is essentially nothing to stop them. The dictator of Belarus was one of the few national leaders in the world who did not lock down for a virus but he has locked down for energy prices. The government tweeted out that any increase in prices will be punishable by law. Ask yourself: What precisely stops other European governments from doing the same? We already see steps in this direction in the U.K. It could easily happen in the U.S. An October Surprise? Maybe this is the October surprise everyone is expecting. Other candidates include a new disease panic, a climate change lockdown, more anti-Putin frenzy or possibly nuclear war. Did I just write the words “nuclear war”? I almost cannot believe it myself and I hesitate even to raise the topic. Truth is that Biden did just the other day. Of course, he warned that Putin might start one. The trouble is that just talking about it makes the unthinkable more thinkable. Well, a nuclear exchange would certainly be one way to distract the public from a failing economy. The main point is that this crazy person said the grim word “Armageddon.” Yep, he actually said it. That means he is thinking it. Was it a gaffe? Maybe. Regardless, it is terrifying. [Urgent From Jim!]( [This Simple Chart]( Hey, it’s Jim Rickards. Big changes are coming to my research service, and I wanted to make sure you saw what was going on. [Just click here now to see my announcement.]( [LEARN MORE]( Back to the 1930s… Let’s move on from the 1970s and go back to the 1930s. The economy fell into a depression in 1930 but it didn’t need to be long and protracted. It could have been like 1922–23: short and uneventful. Incredibly, Congress passed the Smoot-Hawley Tariff Act to begin the process of making matters much worse. As the Depression deepened, and the Hoover administration floundered around with goofy policies across the board, the crisis worsened. Franklin Roosevelt campaigned on balancing the budget and legalizing beer and liquor. The public loved it and he won in 1932. Upon taking office, he first legalized drinking. Fine. Then he embarked on a wicked money and banking reform. He put banks on a holiday and issued an executive order demanding that everyone turn in their private holdings of gold in exchange for paper. This was for the good of the country, he said, and all patriots must comply or go to jail. Inspired by Benito Mussolini in Italy, FDR decided to try out central planning. He gathered all the biggest businesses, labor unions and government bureaucrats together and cobbled together a great plan to dig the country out of the Great Depression. Years went by and matters only got worse. His trick to save the country didn’t work. Resorting to the Unthinkable By 1938, with Europe at war, FDR started thinking the unthinkable. Maybe entering this conflict could fix his economic and political problems at home. Many in the anti-war movement at the time — right and left — suspected this was his motivation all along. Poking and provoking Japan finally led to the attack on Pearl Harbor, which served as a great event to finally get the U.S. to do what many people said the country should never do again. I’m not offering an opinion on the intervention either way, only to say that the war was good for FDR. The Great Depression persisted but by then there were bigger problems. And so it has been ever since. Every president in trouble thinks about how war could actually be a great help. This is a massive danger. [James Altucher has been helping people make a fortune with cryptocurrencies for several years.]( [This Simple Chart]( The whole internet laughed at him when Bitcoin crashed from its high of over $19,000… … but the laughing stopped when Bitcoin rocketed even higher, just as James predicted… … hitting over $60,000 in value. Now it has crashed again… and James is back with a NEW prediction about how to make a fortune with cryptocurrencies. And it’s NOT with Bitcoin. [Click here to find out what James is predicting now… and how to make up to an 8,788% return with crypto by 2025.]( [LEARN MORE]( The Great Depression did not really end until 1948, when recovery was finally allowed to happen. Beaten and exhausted, the American people looked back over the previous 15 years and just did their best to forget the whole thing. FDR emerged as a hero and got his profile pic put on the dime that eventually came to be devalued just like freedom itself. Unpopular Presidents Are Dangerous We find ourselves in a very dangerous place. An entire political party could be wiped out come November. They know this to be true. No political party is going to retire with grace. Something will happen to save this vast network of graft and the administrative state with which it is connected and depends. Maybe it will be a banking crisis. The mess in housing is already starting to hurt financial institutions holding the mortgage debt. Too much in the way of a housing crash could lead to a repeat of 2008, ultimately proving macroeconomist Peter Schiff correct that the last time was just a warm-up. We have so far been spared a liquidity crisis in banking and finance but we cannot rule it out. Controls on cash withdrawals would be something that Biden would jump at in a heartbeat. It would provide an excuse to intensify surveillance and put all those new tax agents to work. All of these pale in comparison to the prospect of nuclear war. There must be some reason that the U.S. keeps sending billions to shore up the Ukrainian government in its struggle over the eastern border with Russia. In normal times, this struggle would not be worth any attention from the U.S... In this sense, it reminds me of Bush Sr.’s intervention when Iraq tangled with Kuwait over oil rights. He turned that into a moral crusade for one reason only: to send a signal to the world that the Cold War imperial state would forever remain internationally engaged. What’s worse than rising gas prices? Nuclear armageddon. Leave it to this bunch in D.C. to make us feel grateful for the current egregious pain given the legitimate fear we have of something unthinkably worse. Regards, [Jeffrey Tucker] Jeffrey Tucker for The Daily Reckoning Editor’s note: From the desk of Jim Rickards: “I’m introducing a big change to my research for all of my readers… [I’ve created a unique opportunity that brings you behind the scenes and gives you a more in-depth look at everything that I cover each week…]( This is for my most serious readers who want to go even deeper into the research I provide, week after week, every single Friday morning. In short, every Friday morning, we’ll be hosting a live Zoom call just like this one I held today… where my team and I will break down everything we covered that week. [I’m calling this new opportunity Rickards Uncensored, and I’d like you to join me](. The next call is this coming Friday, Oct. 14. Unfortunately, due to Zoom limitations, I’m only able to accommodate 3,000 people on a call at once. That means only a small percentage of my readership will be able to join me on these weekly live calls. Once the first 3,000 spots are claimed, that’s it. What’s more, there could already be thousands of people rushing to sign up for these weekly Zoom briefings as we speak. That means this invitation could be withdrawn in a matter of hours. That’s why I’m extending it to you now, before that happens. Just click below for all of the details: [>> Click Here to Secure Your Seat Now <<]( Thank you for reading The Daily Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [Jeffrey Tucker]( is an independent editorial consultant who served as Editorial Director for the American Institute for Economic Research. He is the author of many thousands of articles in the scholarly and popular press and eight books in 5 languages, most recently Liberty or Lockdown. He speaks widely on topics of economics, technology, social philosophy, and culture. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( The Daily Reckoning is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your The Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [click here.]( Please read our [Privacy Statement](. 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