As folklore goes, once upon a time so long ago in a kingdom not far away, dire financial conditions existed. Foreclosures were rampant, employment was excessive, banks failed, and many businesses were forced to close their doors. All seemed hopeless. But suddenly, out of the east rode a knight dressed in Harvardian armor. He told everyone not to fear; he would give them a new deal to solve the all problems. The villagers cheered approval. Thereafter he proceeded to change government in ways previously not visualized, while creating programs for which future generations would pay, and pay, and pay. Despite the knight’s self confidence and assurances, only a limited few of his programs had beneficial long-lasting effects. But the requirement to forever pay became firmly entrenched, thrived, and grew; Ponzi-scheme thinking had made it into respectability. But alas, only a major global conflagration affected the financial difficulties – temporarily. Afterward, with the world’s economies in shambles, the dollar became king. But it was not a forever situation as exaggerated boom or bust cycles became acceptably commonplace, government intervention being the ugly side-effect. And the latent problems continued to fester.

Time passed and years later, the kingdom fell into in another major economic dither, despite or perhaps because of all the machinations of government. Foreclosures and the other miasmata occurred anew with predictable historical repetitiveness. But again, to the satisfaction of many of the subjects a knight again rode in complete with the latest Harvardian armor. Hope and change were this knight’s oratorical lances. If the villagers would only extend more funds, all problems would be solved. They need never worry again. The dollar was now beginning to resemble “Loo” paper. The villagers cheered and the latent problems continued to fester.

Al Chukitus, Kirkland