Does history repeat itself?

In the last depression of my boyhood, stocks were sold on margin and both parties didn't have the money. They say it was the Republican president's fault.

This time when homes were sold on margin, the buyer or seller lending institution didn't have the money. The last time they bailed out the railroads, this time the auto manufactures and leading institutions. Scrap steel was sent to Japan; all in shipping knew it would come back. We had to have World War II; it brought business to a nation. This time scrap goes to China as well as the Tech Industry. Yes, we still have to have that war.

What was the reason for World War II? Prior to Roosevelt becoming president, the Navy was based in San Diego. The secretary of the Navy ordered it moved to Pearl Harbor. The admiral of the district said that if we are moved there and the Japanese attack, we will be wiped out. Who was the Secretary of the Navy at the time?

Your government can afford to bail out firms for near a trillion dollars that they and their workers, through greed, wanted more money. Yes, like each war, there is a shortage of funds or care to help veterans, military or those our leaders would say, "If you're caught, we don't know you." Yes, the families suffer, but who really cares? Thousands from each war suffer as a result of wounds, stress and brain injuries. They and their families suffer at home and in hospitals — military and VA — who cares?

With age, I realize the older I get, the less I know.

Oskar Johanson
Lodi

Reader Feedback

lodisafeway wrote on Jan 3, 2009 10:19 AM:

" What is exceedingly curious to me is just how talented the current Congressional leadership (and its members) is at deflecting responsibility for its actions (or more appropriately, its inactions). Senators Frank and Dodd - both with fresh blood on their hands as it pertains to the financial mess we appear to be experiencing - speak boastfully about how they are the solution without even hinting of their own complicity.

The same holds true for Reid and Pelosi. This ability has permitted the most lopsided Congress in my lifetime; and Al Franken hasn't even won yet!

Sure George W. Bush's absence certainly didn't help to keep the Congress better balanced, but with the Democrat-controlled Senate and House receiving such dismal approval ratings prior to the election, one would have thought the American people would have been able to understand that the miracle that was promised never became close to reality.

I blame the American voters for this mess. And now we've got 21 states vying for their own $1 trillion bail-out?!? Talk about a Pandora's Box!! I don't know, this looks like brand-new history in the making; not a repeat. "

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Cogito wrote on Jan 3, 2009 8:30 AM:

" Oskar, are you saying it was the Secretary of the Navy who got us into WW2? Much of your letter seems to be nothing other than pointless ramblings. Are you trying to blame the depression on the Republicans? How about the current financial crisis? Do you really think we'll be anywhere near the financial ruin caused by the depression? Did you know that the socialistic FDR kept us in the depression much longer than the rest of the world through his approach at financial healing? How about who wanted to write a lot of bad paper? Weren't the Democrats behind the questionable lending practices? Isn't there plenty of blame to go around to both sides of the leadership aisle? The only sentence I have to agree with you on is the last one. "

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t jefferson wrote on Jan 3, 2009 7:45 AM:

" Oskar,

You forgot that like FDR we have a big government socialist taking office. Expect the same mistakes made in the 30's to be made again. The next decade is going to be BAD. There is a perfect storm (excess consumption, unrealistic expectations, massive retirements) brewing and it will hit about 2014. It is going to take a massive war to get out of the next mess, just hope it doesn't go nuclear. "

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