Tuesday, September 15, 2009

Repeating an action and expecting different results is insanity.

Are we doomed to repeat history? Its said that those that do not read history are doomed to repeat it. How about those that just flat out ignore history?

In 1932, the Great Depression was easing throughout the world. Employment was up in the US. And then FDR decided to "help," thereby turning our depression into a Great Depression, a depression WITHIN a depression.

It started with overspending and Smoot-Hawley.

Obama just started a trade war with China.

Obama is borrowing to spend our way out of the depression, sending our credit rating into the toilet.

Europe, though socialist lite, has not interefered to such a great extent in their economies as we have done. Europe is pulling out of the recession.

Now, for all those that expect inflation to jump, gold is very popular. Will Obama steal your gold, just like FDR did? Probably not. Its not necessary. Gold buyers have been demonized as "crazy". Its just gone up over $500 since 2003.

So, what will Obama do when his policies fail just like FDR's did? It took WWII to solve our problems back then.....

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