Friday, December 05, 2008

Worried About A Depression?

How About a 100-year Bear Market

by Paul B. Farrell - November 24th, 2008 - Fox Business

What is next? If the "Great Depression 2" scenario plays out, what's after 2011? Recovery? A new bull? How can you protect your money? Or are we all helpless victims of the raging winds of fate and Wall Street's self-serving brand of capitalism.

This is an excellent article that highlights many of the issues we face in an intriguing view of the future. The relationship of our current circumstances to the movie Rashomon is especially fascinating. It seems obvious that the world has become sufficiently complex that everyone has created their own view of reality. Thus we have Democrats backing Marxism, denying that Marxism has been tried repeatedly and left 100 million people dead during the last century. These Marxists are then outraged that anyone would label them Marxists!

These same people, liberals-progressives-socialists-marxists, whatever you call them, label their enemies as fascists. Curious, because the most compelling characteristic of a fascist is a belief in the economic system of socialism ... something that only the left embraces. Leftists thus label their enemies with a name that is totally wrong on its face, and the leftists cannot see the irony in that. However that is consistent with this article's claim that everyone today has their own view of truth, none of which are truth. I agree with the writer on that. That is true. That creates much of the difficulty of fixing our problems.

Even within the opposition Republican Party, there is a serious problem. As noted in the quote above, many people find Wall Street to have subverted the concept of capitalism into something that is totally bizarre. Of course it needs to be noted that "capitalism" is actually an invention of Marx, and that the appropriate goal of Wall Street should have been "free enterprise", a totally different concept. However the economic system of "free enterprise" is totally incompatible with Wall Street as it operates today. Wall Street does not fund creative new companies. Wall Street funds mergers and acquisitions to subvert creativity. The goal of Wall Street today is to end competition, not encourage it. Wall Street has thus become an enemy of the American concept of free enterprise that has made us the richest country on earth.

Today we have two parties, both of which in different ways are destroying America. One, the Democrat Party, advocates government socialism. One, the Republican Party, advocates corporate socialism. Both are anathema to the economic engine that brought us to where we were at the end of the Reagan era, the late 1990s. It is this that concerns me as to whether the 100 year Bear Market is our most probable outcome. Both parties, in different ways, are working to destroy personal freedom along with the destruction of our economic system, free enterprise.



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