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Saturday, April 22, 2006

As We Enter The Greater Depression ---

It is good to realize that it has been government intervention in the economies of the world that will cause it - not business.

The 1930s depression was likewise caused by a few overzealous egotists using central monetary planning for their own ends.

"The elementary truth is that the Great Depression was produced by government mismanagement [of money]. It was not produced by the failure of private enterprise." – Milton Friedman

The statistics provided by government are not dependable, but you would be safe to guess that both real unemployment and real inflation are now over 10%. As George Orwell said "During times of universal deceit, telling the truth becomes a revolutionary act."

As to the exact timing of the next step down into depression - I don't know - no one does.

That the collapse is inevitable is easy to recognize if you make a dispassionate study of the world, but when is at best a guess.

Inevitable is not the same as immediate. (Speculation Rule)

The cause though is apparent - government intervention in supposedly free markets.

The blame of course will be affixed by government and taught in government schools as "someone else."

Blame all of government - it is too big to control or dissect.

One good hope.

The Federal Reserve that was created in 1913 and helped ensure the depths of the first depression - may be disbanded after their assistance in creating the greater depression we are now entering.



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