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IMPORTANCE OF HISTORY by Good News & Bad News If something traumatic happened regularly every one,
five or ten years, after the second or third time, we’d adjust our routine
for that day, or week, or season. For example, most people building or
living on a flood plain would learn to either mover to higher ground, or
invest in the necessary defensive measures. However, if the event happened only every 30 or 50
years, or 100 to 500 years, as in the case, apparently, of major California
earthquakes, Mississippi River floods, and "snow storms of the
century," for just three examples, individuals would not be able to
remember the exact circumstances of the previous episode, or, more likely,
did not live long enough to incorporate the event into their individual
consciousness and planning. The Old Ones The closest thing we have today to "the old
ones", those who guarded and transmitted the lessons of the past, is history
itself. After all, we do have reasonably good records of the past 200
years in the industrialized countries, most particularly in the United
States. Why not check out those records and see if some reoccurring set of
conditions are in fact happening? History as Bunk Many people under 50 have been especially assaulted
with utter nonsense in the name of history, propagandized in the name of
some higher good, or overwhelmed with such minutia that once again the
forest has been obscured. And as a result, too many younger people have
joined old Henry Ford in believing that "History is bunk." An Era can be said to be at an end Our Choice Remember,the future is happening in any case. That much is certain. We can either allow it to happen to us, or we can act upon and shape it. The choice is ours, as usual. mmm NEWS ITEM: On May 23, 1992, and
with the National Debt already at 4 trillion dollars, and with the annual
interest payments some 10 times what the federal government spent on
education for the young, G.I. Generation Lee Iacocca told a graduating class
of Generation Xers at John Hopkins University, “My generation did
something to yours that was never done to us or to any other generation. We
didn’t pay our debts.” For several years, Kirt Sechooler and I had been
meeting almost weekly to work on his technocycle model of industrial
development. I had even taken a sabbatical to seriously investigate what had
been written in regard to British and German industrial development, to see
if Kirt’s cycles of technology model had implications beyond the United
States’ experience. Collapse of the Left What Sechooler and I had already discovered in our
research and studies was that neither the now rejected left nor the newly
empowered right had any real knowledge or understanding of the history of
the very economic processes they had either hoped to direct or to now set
free. Indeed, even among those somewhere in-between the two poles of left
and right, we found no evidence of any historical-based convictions. As a
result, we began writing and attempting to get our ideas published. Generations Alan Greenspan & CSPAN On numerous occasions in the recessionary months of
1991 and 1992, and along with millions of other Americans, I watched Alan
Greenspan on CSPN regularly testify before and answer questions from various
U.S. House and Senate Committees and Sub-Committees’ members. Greenspan
and the Federal Reserve could change the amount of money in circulation, as
well as change the short-term interest rate, the cost(s) for whatever money
business and individuals wish to borrow. He was (is) someone of no small
significant political-economic power, yet someone who had achieved his
Chairmanship of the Federal Reserve System, the United States’ version of
a Central Bank, because he was thought to be one of the very best we had for
that extremely important job. In addition to wielding the real and direct power to
expand or constrict national economic activity, Alan Greenspan’s general
economic credibility and knowledge had already become legendary for that
time.. Senators, Representatives, citizens --all wanted to know his thoughts
on the very difficult times America was experiencing; what was the cause of
the recession; and most important of all, what if anything could the
national government do to ameliorate the circumstances? "Senator, I Do Not Know the
Answer" While I had never been a particular fan of Greenspan,
I truly did believe that he was smarter than that. His statement exposed a
very shallow knowledge of American economic history, one bordering on a
naiveté certainly more expected from a college undergraduate rather than
the Chairman of the Federal Reserve, the nation’s Central Bank. Think
about it: “I have never seen anything like this in my entire life.” Libraries, Books, Reading And here we had an admission of historic ignorance, an
intellectual nakedness, by one of this country’s foremost
political-economic authorities. To make such an admission, and then not to
be challenged on it by any Senator on the committee, or (to my knowledge) by
any member of the Congress, the academic community, the national or
international press in the following days --all demonstrated to me how truly
imperative the research being done by Sechooler and myself really was. NEWS ITEM: In 1996, the U.S.
National Debt reached $5 trillion, and on March 29, 1996, the U.S. Senate
and House of Representatives voted to raise the National Debt limit to $5.5
trillion. At 7% interest, that is close to $400 billion per year. They are
still not paying their debts. mmm | Home Page | Who Are We | Beginnings | Present Dilema | Central Economic Task of Our Times | Demographic Configuration | End of Industrialism | End of Liberalism | Republican Dilemma | Stagnant Incomes |
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