The John Galt Solution

Finally, a voice of common sense and reason when it comes to a good solution for our economic dilemmas. John Mauldin's Outside the Box column refers to Caroline Baum's article in Bloomberg about the best course of action our national policymakers should take.

Here's the crux of the article:

Galt, the hero of Ayn Rand's magnum opus "Atlas Shrugged," stops the world by going on strike. He and the "men of the mind" literally withdraw from the world after watching their wealth confiscated by the looters (the government).

Toward the end of Rand's 1,000-plus page novel (or polemic), the economy is in shambles. Desperate, the looters kidnap Galt and prod him to "tell us what to do."

Galt refuses, or rather tells them "to get out of the way."

And that's exactly what Bernanke, Paulson, and Bush should - and all they really can do: Get the heck out of the way, and let the financial hangover begin. There's no "easy button" to get rid of the excess borrowing, spending and stupidity over the last several years.

What needs to be done is to put the economic crack pipe down, and get back to more saving and producing - not borrowing and spending like drunken sailors on shore leave. In the meantime, get out of the stock market unless you really know what the heck you're doing. Invest in gold, silver, and other commodities; along with strong foreign currencies like the Swiss Franc.

Some people may think you're crazy to invest this way in the short-term, but they'll believe you in the long run - and you'll be better off financially. Remember, the herd is almost always running the wrong way. Do the opposite of what they do, and you'll be just fine.