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Show 'We are dedicated to the public interest, to fairness nd cctmcy, to innovation and growth, and to the restless pursuit of excellence." OPINIONS Pulitzer mission statement EDITOR: MARK EDDINGTON 4 A9 THE DAILY HI RALD WEDNESDAY. OCTOBER 7. IWK Something wicked this way comes? Another Great Depression? Don't worry about the stock mar the saying goes, just stay in it for the long run and you'll be OK. OK, but how long is the lone run? One should, as the old Greeks said, define one's terms. So just how long can tne long run, run? Well, thanks to David Feldman, a businessman retired from the stock brokerage business, I have an answer. In a letter to me, Feldman said, "Remember the long-ternonsense," he wrote. "After the market crash of 1929, the year the Dow Industrials peaked at 381, it was 24 years before stocks saw that price level again." And Feldman knows. He was there, through it all, and he thinks the new depression started in the early ket, months of 1998. He was also kind enough to supply me with a few quotes to share with you, so you can see just how wrong corporate big shots and economic experts can be. The market crashed in October 1929, but deepite the crash, Americans were given this cheerful news about the promising cation of an excellent 12 months from a business and financial standpoint," reported the 6th Federal Reserve District. Not to be. "We believe with President Hoover that the country and its fundamental business conditions are sound," said W.W. Atterbury, president of the Pennsylvania Railroad Co. Gee, now where have heard that? And The New York Times reported, "Bankers say ... that the full year (1930) will prove sound. Authorities in all branches of business and industry agree that already indications of improvement are seen." Must have been ghostly indications because 1930 and 10 subsequent years proved terrible. Feldman said that only German financial circles got it right, saying, "Majority opinion here looks for depression." As Harry Truman was fond of observing, the only surprises are the MY TURN new year, 1930, coming up. 'There are valid reasons to believe that the period ahead will round out a good year," said L.E. Pierson, chairman, Irving Trust Company. Wrong. "I believe Jhat 1930 wilj be one of the most soundly prosperous years in American history," said E.A. St. John, president, National Surety Co. Real wrong. 'There can be little that may indicate a serious or continued depression," said the president of Metropolitan Life Insurance Co. Extra wrong. "Business is sound. The buying power of the country has been little impaired by the break in stock prices," said Dr. Julius Klein, assistant secretary of commerce. Starting 1 Charley Reese to hear little echoes? "The general economic situation is thoroughly sound," assured A.W. Robertson, chairman, Westinghouse Electric and Manufacturing Co. Talk about a misread of reality. "A consensus showed that the New Year (1930) will be more prosperous than for some time, with every indi history you don't know. So people who don't know history don't know how long the long run can be, don't know that all this talk of a "new era" is actually more than 60 years old. It was all said on the eve of the Great Depression. President Clinton's recent "economic" speech at the Council on Foreign Relations was just banal baloney. His solution is still for Japan to restart its economy and "be the locomotive that pulls Southeast Asia." What in the (expletive) does this phi- landerer think the Japanese have been trying to do for the past five years? They can't restart their economy. Batten down the hatches, folks. Life is an circle. ever-repeatin- g Charley Reese is a columnist for King Features Syndicate Inc. Worldly children and simple adults By FROMA HARROP COMMENTARY Two weird stars are lining up in the media heavens this week. One is the ongoing investigation into President Clinton's sex life. The other is grand jury hearings into the murder two years ago of beauty "queen" JonBenet Ramsey. Both scandals come with colorful pictures, unfortunately. They project to the world an America of childish adults and grownup children. We are a nation that dissects a sexual relationship between consenting adults while enjoying sexy stage routines performed by tiny girls. Strange place, this America. From Colorado, the JonBenet case is back, inseparable from the grotesque images that have haunted us since the girl's strangled body was found the day after Christmas in 1996. We again see footage of the little blond temptress, dressed like a Vegas showgirl, eyes buried in makeup, strutting across the stage before an appreciative audience. In a bizarre home movie, JonBenet is ridred ing around in a child-sizeshows The next clip Lamborghini. her parents expressing moral indignation over having become suspects in the child's murder. They refuse to cooperate with police and have hired a phalanx of lawyers and public relations experts as personal protection. Having put their daughter on lascivious display, they now orchestrate a dignifed church funeral for her. They d star as the grieving parents. From Washington, we have a nation in convulsions over an illicit affair of no consequence. Foreign journalists look on the spectacle with horrified awe. They might expect the more politically agitated opposition to blow this matter out of all proportion But they are absolutely astounded to see the formerly in the political and media elites collaborating in the puritanical violence unleashed by special prosecutor Ken Starr. Where are the adults? Don't they to keep a sex have the scandal from diverting the nation fronwriatters of urgency? This is a dangerous world of a traumatized Russia and collapsing Asian economies, and not a few domestic problems continue to stew. Perhaps the political and media elites believe that the tooth fairy is going to watch over the interests of the United States while they are throwing their tantrum based on the President's st61ea moments with Monica. lEiiropeans see the elites' lack of moder-atelnfluenc- self-contr- discrimination as further evidence of American decline. And they are not unhappy about it. Montreal journalist Benoit Aubin recently wrote in Toronto's Globe and Mail: "With the U.S. political apparatus skidding out of control, the Eastern economies reeling and Russia falling apart, Europe suddenly looks good. Very good." An editorial in Paris's Le Nouvel Observateur sees American civilization in freefall: "Democracy is in peril in a country where an independent prosecutor and the media can harass a man over a love affair and no one protests." Another French publication, L'Evenement, says, "This is the end of the American dream celebrated worldwide as the last rampart against the totalitarian regimes of the century." European journalists generally dismiss the argument that the scandal is about perjury and not about sex. They regard the charges of perjury and obstruction of justice as a fig leaf to give an air of respectability to a sexual inquisition. The law distinguishes between fatally stabbing an and shooting intruder in a up playground. Both involve the taking of life. One will not result in a day of jail time. The other may lead to a lethal injection. Grownups sometimes lie about their sex lives in even if the intimate questions are asked by authority figures in lawyers' outfits. It happens every 10 minutes in a divorce case. Such lies may fall under the wide umbrella of perjury, but the legal system almost always ignores them. To go around chanting that "perjury is perjury" is baby talk. Here it is, a nation of worldly chiladults. dren and Imagine the life of JonBenet Ramsey had she survived to the ripe age of eight. Having just performed a takeoff on Mae West, the girl removes her makeup like a veteran, logs onto her computer and reads a pornographic description of her president's sexual encounter. The unexpurgated report comes to her courtesy of the government. Its leaders primly assure her that they only acting in the service of truth. Fully informed, she can decide for herself whether oral sex is really Clinton-Lewinsk- BUSH, self-defens- e self-defens- simple-minde- d SINCE IfifBUf been swing 'that the current'fko-ces- I in washington you I toqueswn ' running for presiIfNT.. I tJX COFYl all-ye- sex. Froma Harrop is a Providence Journal editorial writer and columnist. I WRE THE 6.0 P THISNATURAUY RAISES THE QUESTION :JHAT EXACTLY FEAR DO YOU HAVE TO FROM THE "PROCESS'f LOOK, THE ISU6L-Y- . PROCESS ITS imp. ITS OUT OF CONTROL UESHOUUPAUBE AFRAID OF THE PRO- - CE9S!6Kf AFRAID! X. J II mm IT. Garry Trudeau IT(OAS AmJL.Pom NOUIHONEY, THEPROCSS JPPEAMEP1 0NlGO$ WAS BEING CHASED BY THE PROCESS! AFTER. BAP PEOPLE- - LETTERS TO THE EDITOR 1 Sept. 9. I can understand his anger and indignation. It is true that we have lost certain freedoms. All I can say is that I am glad I had the opportunity to take my Bible and other scriptures to my high school and have prayer meeting with other Christian friends during lunch hour. However, as I see this country losing certain freedoms, I grow more determined to vote in every local and state election because I believe that when we pull together toward a great common goal, we can accomplish many great things. I believe because I am an immigrant who came to this country 19 years ago. Where 1 come from, you are not allowed to believe. The 4th of July is my favorite holida'. I place the American flag everywhere in my house in July to teach my daughter respect and love toward this great land of many freedoms. I keep a picture of the Statue of Liberty on my table round, so that when I read letters such as Mr. Whicker 's, I can be reminded of the day I was held at gunpoint while military men searched my car for terrorist weapons as I visited my country of birth. Or, I can remember the day when I begged the man at the store to sell me some sugar and rice to bring to my grandmother. You see, that man at the store was waiting for the food to go up in price the following week to sell it at a higher price. The day that I became an American citizen was the most wonderful and unbelievable day of my entire life. I was determined then and By you've .caused I was intrigued and amazed when read the piece Mr. Whicker wrote about burning the American flag on y DoOnesbury goVbrnor Glad to be an American I am determined now to fight for the freedoms that we enjoy such as freedom of speech, which gives Mr. Whicker the right to write his piece on burning the American flag. Recognition Day is not such a bad idea. But rather than burning the flag on that day, let every American who wants to burn the American flag have this special day to have the opportunity to stand, as I did, in front of a judge, to raise their right arm to the square and recite the oath of allegiance. After doing so, the only "burning" desire in their hearts will be to thank God Almighty for the marvelous blessing to be a citizen of this great country: The United States of America. Yvonne Williamson Orem Congressmen out of touch When it comes to wilderness, the Utah delegation must consider themselves dictators instead of elected representatives of a democracy. It is incomprehensible how out of touch our congressional leaders are with the desires of their electorate. Surveys have repeatedly shown that the majority of Utahns want vast tracks of land designated as wilderness. A recent survey last summer found that the average Utahn wants 9.25 million acres as wilderness. Despite overwhelming wilderness support in Utah and previous failures at passing bills, the Mallard Fillmore dictator-likUtah delegation (minus Merrill Cook) is at it again! This time, deceptively, Rep. Jim Hansen bill has hidden an that allows desecration of over 12 million acres of wilderness in the San Rafael Swell in a omnibus bill that has some good provisions. Let's hope we can count on the Democratic leadership in Congress to protect our national heritage and defeat this bill in accordance with the desires of the people of Utah and the United States. e 481-pag- e Teri Underwood Salt Lake City " .' Sound off about Clinton Our representatives in Washington, D.C., must have a strong support if they are to clean up the corruption that now infests the White House. , Congressman Chris Cannon's recent town meeting was a great start, but we must keep this issue at the fore and continue to demand impeachment and removal from office. To help, here are the addresses of our Representative and Senators: Chris Cannon: cannon.ut03mail.house.gov Bob Bennett: senatorbennett.sen-ate.goOrrin v G. Hatch: senatorhatchhatch.senate.gov The nation must object to or censures and stand up for constitutional mea- sures. Silence shows assent to the , uncon-stitution- plea-bargai- ' v status quo. Matthew D. Maddox American Fork By Bruce Tinsley n- - I ... |