The Berlin Wall 20-Year Anniversary

[Gerry Clinchy]

I'm surprised nobody has mentioned that our President turned down an invitation to attend the celebration of this historic event. After the trip to Copenhagen for the Olympic bid, this event is not important enough to fit into his schedule?

The NY Times today did an article on what the meaning has been for taking down the Berlin wall. I can't say I agree with the negativisim expressed there.

It was an event of substantial historic significance, in which the US played an important role. I would have expected our President to attend.

[dnf777]

I can't believe it's been 20 years! Pretty soon, it will have been down more than it's been up! Unfortunately, that's true for many things in life.

[Uncle Bill]

After that 40 year 'experiment', it's hard to find arguement with this analysis...but Hugh and his Obamaites will certainly second guess it. To each his own.

In 1949, the Soviets and the Allies divided Germany into two parts. One part followed a traditional capitalistic path to reconstruction. The other part took the socialist road. Remarkably, they kept this test going for 40 years.

Of course it was misery for many of the test subjects. People were so eager to get out of the East German control group, they risked their lives jumping over the barbed wire. Then, when the wall was down, the population of East Germany collapsed...more than one out of every ten people moved to the West!

But it was a great experiment for economists. Too bad they didn't learn anything.

What they should have learned is that when it comes to making people materially better off, government spending is a poor way to do it. It's great for the few favored firms who help Washington raise and spend its trillions. It's great for Goldman, in other words,

But what if you don't have an inside track with the government? Well, you're out of luck. You get to stand in line to buy inferior goods and services - produced by government-owned industries and protected monopolies. That was what the East Germans did. And, of course, you get government bureaucrats telling you what to do...and preventing you from improving the quality of your life.

That's what they did in East Germany. And that's what they're doing, now, in the United States of America - in a less obvious, less heavy- handed fashion. Who owns the biggest auto company in the US? Who provides the finance for the finance industry? Who controls the health care and education industries? Who's the biggest employer? Who finances our houses? Who runs our banks?

Well...you know the answer.

But here's another question: who's headed for bankruptcy? Same answer.

What can you do about it? All you can do is to anticipate where this is heading...and position yourself to profit. Or, at least position yourself to protect your assets.

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Fortunately for me, I'm too old to have many concerns for the future, except for my grands, and great grands... they are my assets. Thankfully they are responsible, hard-working, young Americans with a great respect for the Constitution of this nation. Given the chance, they will earn their own way and be productive.

I only hope they can overcome the socialistic tendancies this country is adopting.

UB