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House of cards on shifting sands

By Staff | Oct 29, 2010

To the editor:

When I resumed writing, three years ago, I warned of parallels developing with the Crash of ’29,’ – counter-productive government subsidy and tax schemes inflating an unstable ag, commodities and real estate bubble thru Roaring 20s-style speculation, and a childish Depression-era voter reaction fleeing to those responsible for our unlikely salvation.

I advised buying, on pullbacks, ample survival stores, enough land to feed your family, gold for catastrophic reserves, silver for everyday trade and getting debt-free.

Although I hoped Americans would prove me wrong, rise above selfishness, and vote for productivity and prosperity for all, to date, I’ve been proven right. Though still awaiting the crash, the question is not if this bubble will burst, but when.

I didn’t predict the only recent bright spot, the rise of the American constitutionalist Patriot movement, through the Tea Party rallies. I am no prophet, just a student of history.

Speaking at an Oshkosh, Wisc., rally, recently, I drew parallels between our path and great failed empires of history, hoping not for our similar failure, but to enlighten man to past mistakes, that we mightn’t be doomed to repeat them.

In that spirit, every previous depression started with bursting ag commodities and real estate price bubbles, and, most, in October.

Ag profitability has been the only strength forestalling serious economic depression.

Bad weather and manipulative biofuel subsidies may have kept us from paying the piper, temporarily, but they can’t save us from the absolute necessity to pay.

The correction will come, prices must fall to free-market levels, and we will find, just like every other depression-era generation, that we can’t long live beyond our means of production; we can’t borrow our way out of debt, we can’t inflate our money supply without destroying the value of every saved, invested or taxed dollar; and we can’t tax, spend, subsidize, play and speculate our way to prosperity.

We must save, invest and, ultimately, produce necessities of life, sufficient for the largest and poorest market segment to buy in order to crawl out of this hole.

We must stop all subsidizing Wall Street speculators, billionaire industrialists, wealthy landholders, baby factories, idle hands and idle lands.

We must stop penalizing (taxing and regulating) savings, production and profit.

We need every hand, every acre and cheap energy to profitably feed, clothe and shelter 7 billion people.

If not, expect growing poverty, crime, starvation and violent civil unrest, coming even to our shores.

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