WHEN THE STOCK MARKET CRASHES?
May 11, 2008
January 23, 2008 Paul Proctor wrote an article "When the stock market crashes?" He wrote: “When the stock market crashes – and I mean really crashes, we won’t care about Brittany Spears, Paris Hilton or anyone else in Hollywood struggling through their fame and misfortune. We won’t care about the Oscars, or any of our favorite TV shows, we won’t care about greenhouse gases or the plight of the polar bear or about the oil shortage, the EIB network or the NFL playoffs. We won’t care about global peace plans, bad hair days or low-carb diets. Could it be we might rediscover some old-fashioned values – the faith, morals, principles, ethics and ideals of days gone by – the forgotten priorities and Biblical standards of our grandparents who lived through the Great Depression?”
No, I expect things to be totally different than what Paul Proctor suggests. Yes, he is perfectly correct about TV celebrities, sports heroes, global warming, low carb diets and bad hair days, but I don’t expect so see the majority of the population go back to old-fashioned values. How can we as a nation develop faith, morals, principles, ethics, ideals and Biblical standards when they have never been taught to this generation? It’s only the older generation that sang Christmas Carols, prayed in school, and heard old-fashioned sermons condemning sin and teaching repentance. Our people have been taught the Bible is full of hate speech, prayer should never be heard in a public place, it’s alright to murder unborn babies and the golden rule is to “do unto others before they have a chance to do unto you.”
January 25, I discussed the crash of 1929 and how we may or may not be affected if another panic occurred. I received an e-mail from a listener named Eric. Eric said, “I’m listening to your show daily and learning. Today you talked about the stock market crashing. When the stock market crashes, I wonder if Americans will still need to eat out once a day, or even once a week; I wonder if we will still pay millions of dollars to athletes who, on the whole, possess no socially beneficial skills. I wonder if those of us who live in the boondocks will still drive hours to the nearest shopping malls just to save a few dollars; I wonder if we will plant vegetable gardens instead of flower gardens; I wonder if trees will be cut down for firewood instead of used to smoke barbeque; wonder if the gaming casinos will fold-up or whether it will be the churches? A generation of a country ignorant of its shortcomings is a scary thought.”
It must be understood that many of today’s problems began with the Great Depression. The Great Depression gave Franklin D. Roosevelt the excuse he needed to con Congress into passing unconstitutional legislation. It was during FDR’s New Deal that America was introduced to a welfare system. The government borrowed money to put people who didn’t have jobs to work, doing jobs that didn’t need to be paid for by a government with borrowed money. Up until this time we were individuals. People took care of themselves and if they were incapable of doing so, it was up to their families, churches and as a last resort, the county, but never the federal government. At that time our nation was a Republic with checks and balances, limited government and inalienable rights to liberty and property. With another depression we will see more of our liberties taken away from us. Riots will occur and the military will be called in to restore order. We will become a police state.
As one writer has put it – the opera is almost over, the fat lady has begun to sing, but can anybody hear her?
NOW, DON’T PANIC
Someone once defined a recession as when a friend loses his job. A depression occurs when you lose your job but we don’t have a panic until your wife loses her job. I was born during the Great Depression, when there was a real PANIC. I have since lived through several recessions, but I now know there shall never be another PANIC. Anyone wise enough to be President of the United States would surely know the truth, and he says a PANIC is a thing of the past.
I shall quote this famous President, “We shall have no more financial PANICS. PANICS are impossible. Businessmen can now proceed in perfect confidence that they will no longer put their property in peril. Now the businessman may work out his destiny without living in terror of panic and hard times. PANICS in the future are unthinkable. Never again can PANIC come to the American people.” President Herbert Hoover declared this to the American people in 1929. History tells that the stock market didn’t bottom out until July of 1932, nearly three years after Hoover’s remarks.
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We must realize that 80 years ago people weren’t as educated as they are today. I’m certain that Bush, Bernanke and Paulson have learned from past mistakes. After all, we are living in the 21st century and have the IMF, WTO and the rest of the international banksters advising us. With this in mind, there is “NO WAY” we can have anything as unthinkable as another PANIC.
� 2008 Derry Brownfield - All Rights Reserved