"Those who cannot remember the past, are condemned to repeat it."
George Santayana
Carl Marx's dire prediction of the inevitability of a worker's
revolution failed to come true in the USA because he didn't
anticipate the remedial role of labor unions. Also, the turn of the
20th century was a time of much religious fervor in the USA, and high
moral ideals for many. These things helped the USA suffer through the
depression hardships with nominal civil unrest. These factors are
now greatly diminished in their capacity to help us thorough the
calamity that can ensue if the bond market collapses, precipitating a
second stock market and real estate market collapse, stress on the
banks, problems with food production and problems with the
transportation network.
Default on some state and municipal bonds is already a feared
possibility. Shutting down already shaky local governments by
starting civil unrest only adds to the likelihood of default, and the
severity of the consequences.
Unthinking adherence to dogma in the face of grievously inhumane
consequences is truly evil.
Best regards,
Horace Heffner
http://www.mtaonline.net/~hheffner/
