Tuesday, September 29, 2009


"Men, it has been well said, think in herds," writes Charles Mackay in 1841. "It will be seen that they go mad in herds while they only recover their senses slowly, and one by one."

There really isn't much new in the way people act 168 years later, is there?

After nine years in government and the last 20 years observing government and financial investors, unions and social groups, I can personally attest to the "herdism" mentality.

Jack Lochrie of Farmington Hills, Michigan where I once was a finalist in a tennis tournament, comments on WSJ Columnist Daniel Henninger's "Top New Year's Resolution: Don't be Stupid", 1/9/09, "the dwindling population of Americans who actually embrace 'personal responsibility" is being drowned out by daily pronouncements of our government that only the government can rescue us from our economic quagmire."

Yes Virginia, we are still in a quagmire. Don't be fooled by the recent surge in the stock market.

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