But I digress, let me tell you something you may not realize about the jewelry business. (if you are Muslim: the word Jewelry does not come from the word Jew) First let me set up a mythical jewelry store: let's say you bought 3 rings over the years like so:

2006 $200.00
2007 $250.00
2008 $300.00

These are all the same ring, mind you, the difference in cost is because of rising gold prices.

Now it is 2009 and you sell one ring for $400.00

A normal jewelry store owner will most likely use the LIFO system of accounting which records the sale of the most recent (and in most times, the most expensive) inventory first, thereby decreasing paper profits and reducing real taxes. If you are like most jewelers and you restock your inventory (an empty or near-empty store will not make good sales) you will spend $300.00 to restock that ring. After all the dust settles, you made a real gross profit of $100.00 and the store is restocked to its presale level. At a 35% corporate rate the tax will be 35 dollars and you will note a net inflow into your business of 65 dollars.

Enter Economic genius Barack Obama. President Obama wants to repeal the last-in, first-out (LIFO) inventory accounting method. Under Obama's plan, companies would no longer have the option to use LIFO and would have to account for inventory on a first-in/first-out (FIFO) basis that taxes inventory and order replacement on the original cost basis and not on the cost of replacement.

In the example above, if Obama has his way, when you report your store profit and sales you will have to record a cost basis of $200.00 resulting in a paper profit of $200.00 and incurring a tax of $70.00 or exactly 100% more. In addition, when you restock the ring in order to keep your inventory at the same level you will pay $300.00. The result? You will only have 30 dollars in the till after taxes with which to pay all your other expenses. Your taxes doubled and your cash flow was cut by more than half. How's that for stimulating the economy?

This is just a ploy to raise taxes on businesses, in some cases as much 100% and even more later on if the government prints more money. Since Obama expects his policies to increase inflation, this allows him to tax even more without changing the tax rate to businesses.

This one vicious, nasty piece of business alone should be able to put tens of thousands of enterprises out of business. I love it.

The reason I love it is the same reason I voted for a Democrat for President for the first time in my life: it will destroy our economy and raise the price of gold to unimaginable levels. Yes, I admit it; Obama is doing exactly as I thought he would. But dear reader, don't think less of me for wishing this country to sink into a cesspool; I warned my readers back in June of 2008 (in the article linked above) to dump all of their stocks and buy gold.

When 2012 rolls around, unless the American public still doesn't get what socialism is all about, we will hopefully elect a pro-business President and get this country back on its feet. In the meanwhile I expect to make a lot of money.

As for all my Jewish friends who voted for Obama and will shortly see their businesses going under - Hah! You get what you vote for, you imbeciles. How many donations to charity can you make when you're broke? How are going to help those in need when you won't be able to take care of yourself, you stupid, compassionate fools.