Mogambo Guru: Economic Pain Can Only Be Delayed Not Avoided

Jason Burack of Wall St for Main St had on investor and former newsletter writer Richard Daughty aka "The Mogambo Guru." http://mogamboguru.com/ Mogambo Guru wrote articles that used humor, satire and stories to talk about Austrian School Economics and investing in gold, silver and oil. His articles were very popular for years over on The Daily Reckoning website http://dailyreckoning.com/ During this 30+ minute interview, Jason asks Mogambo how he decided to start writing using story telling and satire/comedy in order to talk about Austrian School Economics and investing in gold, silver and oil. Mogambo says he just became fed up one day with reading the same old types of articles everywhere. Jason asks Mogambo about his background before he created the Mogambo Guru character. Mogambo used to trade options but became angry with Wall St, politicians and the US government after the technology bubble and when he learned Austrian School Economics and also found the Gold Anti-Trust Action Committee's (GATA) work. Jason asks Mogambo about the economy, inflation and the macroeconomic situation. Mogambo sees food and energy prices rising in the real economy under any situation. He sees potential wage and price controls in the future as well if things get much worse. Mogambo thinks dollar cost averaging and continuing to buy physical gold and silver each month for insurance and savings (not as an investment) are a smart idea. Mogambo thinks the paper price of gold and silver will go up a lot in the long term but Americans fed up with corrupt politicians who love to tax and spend and Keynesian Economics may have to leave the country.