The past is prologue in this daily bar chart of the Dow Jones Industrial Average circa 1929, just before the infamous "Black Thursday," October 24th, 1929, helped usher in the most damaging portion, the C wave, of the correction that was to become known as "The Great Depression."
Much like today, the 1920's saw a rampant, unchecked rise in stock and land valuations fueled by an omnipresent and still young Federal Reserve System. In his 1955 expose' of the 1929 downturn entitled "the Great Crash," John Kenneth Galbraith famously wrote that "There was far more money flowing into the market than there was intelligence to guide it!" That quote seems apropos today, as we have merely seen the initial "shot over the bow," in this unfolding "Great Downturn." In my opinion, we are clearly on "The Road to Sefdom," as F.A. Hayek so famously warned about in his classic tome of the same name.
The parasite, (the government in all its forms, including the Federal Reserve System) have drained the last ounce of blood, (capitalism) out of the host. What is left now is an empty shell of an ideal that many men better than I have fought and died to protect. Over the ensuing years we will march happily down the Road to Serfdom, grasping readily at "helicopter money," and other "fast-passes," to socialism, as one after another "saviors," come forward with their' own particular flavor of totalitarian rule.
The veil of socialism will engulf us all if we do not act when the puppet masters prophesize what F.A. Hayek coined as "The Great Utopia." The Stock Market, as well as civilization itself is on the cusp of a monumental turn.
"When the course of civilization takes an unexpected turn, when, instead of the continuous progress which we have come to expect, we find ourselves threatened by evils associated by us with past barbarism, we naturally blame anything but ourselves!"
Choose wisely my friends!
Much like today, the 1920's saw a rampant, unchecked rise in stock and land valuations fueled by an omnipresent and still young Federal Reserve System. In his 1955 expose' of the 1929 downturn entitled "the Great Crash," John Kenneth Galbraith famously wrote that "There was far more money flowing into the market than there was intelligence to guide it!" That quote seems apropos today, as we have merely seen the initial "shot over the bow," in this unfolding "Great Downturn." In my opinion, we are clearly on "The Road to Sefdom," as F.A. Hayek so famously warned about in his classic tome of the same name.
The parasite, (the government in all its forms, including the Federal Reserve System) have drained the last ounce of blood, (capitalism) out of the host. What is left now is an empty shell of an ideal that many men better than I have fought and died to protect. Over the ensuing years we will march happily down the Road to Serfdom, grasping readily at "helicopter money," and other "fast-passes," to socialism, as one after another "saviors," come forward with their' own particular flavor of totalitarian rule.
The veil of socialism will engulf us all if we do not act when the puppet masters prophesize what F.A. Hayek coined as "The Great Utopia." The Stock Market, as well as civilization itself is on the cusp of a monumental turn.
"When the course of civilization takes an unexpected turn, when, instead of the continuous progress which we have come to expect, we find ourselves threatened by evils associated by us with past barbarism, we naturally blame anything but ourselves!"
Choose wisely my friends!