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"It is
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July 1st, 2002
Somewhere in the subconscious of the Industrialized countries of the world we seem to have entered into a period of, if not fear then confusion. The events of June this year, from the Supreme Court decision on School Vouchers which appears to be the only scheme to improve the education of the majority of minority and poor children in this country - to the opposite side of the spectrum when the 9th Circuit Court in San Francisco decided that our children could not swear allegiance to their country "under God" at least in our tax supported schools. Then there has been the undignified reworking of the financial numbers by corporations who purchased so much good publicity and political clout over the last decade; the reaction to all of this (apart from the demise of one of America's heretofore most respected accounting firms) has been about the same for shareholders as the hurt and disbelief they had when their first sweetheart left them for someone else. The Middle East is in turmoil, as is much of the world on the borders of Islam [MAP] and just about every major indicator of trouble ahead is warning of dire consequences in the world. Or so the pundits would have us believe. The dollar has dropped against the Yen and the Euro, gold prices are headed upwards and the NYSE and Nasdaq are headed down. Violent Crime is up in Los Angeles where we are now so many cops short of the establishment numbers, with many being caught up in Homeland Security. Now we are heading into the July 4th weekend with pundits frightening us not to go to "public places". More important though, proving that perception is often far more important than the truth, Pacific States business appears to have put itself into neutral and is coasting. So, are we heading for another 1929 as so many radio talk show hosts are boosting their audiences talking up? Are we truly under grave threat of mass terrorism attacks, which are trumpeted on the cable news channels accompanied by musical scores normally reserved for horror movies? Is it time to stock up on emergency rations and buy more guns? Is it really all coming to an end? Or is it just that the media misses the attention and income it developed while it was playing up the fears of the Y2K bug? Fact is that share prices are still above real value of 20 years ago. The United States Military is more respected in the world right now than it has been in decades. The air we breath is a lot cleaner. Agriculture has made gains to the point where instead of everyone starving, as the pundits promised back in the sixties, we are actually suffering from a higher percentage of the population now being worried about obesity. Health care has made amazing advances and technology has led us into a world of convenience and productivity our grandfathers could not have even dreamed of. So . . .
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