How's Your Bank Account? Your Pantry?

There is an interesting article, with a terrific little lesson in economics, on Human Events. The writer, Terry Easton, economics professor, predicts a global depression in 2010. I can't agree with him more. The election of liberal socialist Barack Obama will result in more government meddling in the markets, as well as higher taxes, and people and banks will be increasingly nervous about investing or spending money. This will decrease economic activity all over the world, resulting in a global recession, and then, as things get worse, depression.

And, watch, they will repeatedly blame the present Republican administration for the whole mess, and ignore all the anti-freemarket things what the liberal Democrats have done. They will declare the demise of capitalism, refusing to acknowledge that capitalism created the most powerful and prosperous country in the history of the world, and they ruined it.

The biggest problem with this is globalism. The way to revive a comatose economy is to pump more money into it from the outside. But, if the entire world is in a depression, then there's no where for an infusion of investment money to come from. Then, we just have to wait for people be willing to take chances. If we're lucky, then people will realize that capitalism works, and we'll have a return to some intelligent economic and political policies.

So, in the near term, things don't look so good. I suggest a year's supply of food and money (and ammo) on hand to get through it, and an unlimited supply of faith and patience.