George,

"Those who cannot learn from the past are doomed to repeat it," so spoke a philosopher of old.

From what some of the soothsayers and prognosticators are telling us, we are about to embark on a fulfillment of these dire predictions..

OK, back to the future, to 1933 to be precise, the United States had just suffered through probably the worst presidents, back to back, in our history, Harding, Coolidge and Hoover, their legacy was the worst economic downturn, more commonly known as the Great Depression.

When Franklin D Roosevelt gave his inaugural speech in 1933, he assured this great nation with the words "the only thing we have to fear is, fear itself." He boldly put forth an agenda to stabilize the banking system, rein in Wall Street's recklessness, get Americans back to work with projects like CCC (Civilian Conservation Corps), WPA (Works Progress Administration)--millions were employed building roads, parks, bridges--almost anyone wanting to work could find employment. With Social Security, senior citizens could enjoy a relatively secure life in their elder years.

The wheels of commerce began to slowly turn as the nation was regaining its once mighty muscle.

None of FDR's accomplishments were without stiff opposition from the right wing, principally centered in the Republican Party--the conservatives in the U.S. Senate along with a 6-3 conservative majority in the Supreme Court put up obstructions and roadblocks at every one of the president's efforts. In spite of them, the ship of state seemed to be heading to an even keel.

Fast forward to 1938 when fear mongering and anger once again gripped the land fed by propaganda, impatience with the pace of recovery, outright smears, lies and a right wing takeover of Congress--the nation almost immediately plunged back into recession, not to see the Depression end as a result of the huge deficit spending (thirty trillion dollars, in today's equivalent) during World War ll.

Fast forward to 2010, coming out of eight years of a sinking economy, Wall Street parasites and unscrupulous, unregulated banking, skyrocketing foreclosures and unemployment, once again, all signs point to a slow stabilizing economy, but it's "deja vu all over again" to quote Yogi...and fear and anger once again stalk the land.

As is said in investing disclosures, "past performance is not an indicator of future outcomes." However, it has proven a fairly reliable basis on which prudent decisions are made.

It is also applicable to a party dominated by "know nothings" and obstructionists.

Keep that statement in mind as we once again face a party whose clocks go tock tick.

Harry Tenney (Electronic mail, November 3, 2010)