HISTORY NEVER REPEATS ITSELF

As the late Brother Dave Gardner loved to say: "You can't do anything again. Once it's done, it's done." History doesn't repeat.

We might have similar circumstances brought on by identical actions. For instance, printing fiat currency leads to inflation which causes prices to rise, predictably. But there will always be ample distinctions to differentiate various periods of history.

What historical value or purpose is served by declaring that "history is repeating itself" when the distinctions of events and eras are unique and fundamental?

We are in a business down cycle which has become international because of our insistence on building a global economy. (No history repeats there.) The governments of the world's biggest economies meet to decide on joint actions to do something to make the blues go away.

So many bright signs have appeared, even before the Stimulus Bill passed. A major auto-maker, Ford, politely rejected the federal million$ which were quickly grabbed by Ford's domestic competitors. The retail sales figures for January were up. Intel announced plans to expand its facilities to the tune of $2 billion over the next two years, using THEIR money. The real estate market in Florida is coming alive, according to the real estate association. Our gloomy president doesn't point to those cheery news items. You don't hear him repeating FDR's words about fearing fear.

Today's down cycle doesn't resemble the leadup to the weak U.S. economy of the 1930s. This is no Great Depression, no matter how hard they try to promote it and nationalize or internationalize everything that moves.


It's all so simple.