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The only thing we have to fear really is fear itself
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FDR's words are as pertinent today as they were in the 1930s, except this is no Great Depression.

Homicides have been cut in half in the past 25 years. Teenage pregnancies hit a record low in 2012. War is waning with the new century — the past 14 years have been incredibly peaceful compared to any decade of the 20th century and even more so if you go back further. The big "external enemy" country is now China with a single aircraft carrier, horrific environmental problems and a dangerous male/female ratio thanks to ultrasound abortions of females. Don't we owe China a lot of money? Yes, at an inflation-adjusted negative rate on a good portion of it. Translation: China is sending us free cash!

As bad as our pension problems are, the other wealthy countries have it worse. Those currently retired will take more money out of Social Security than they put in thanks to longer and longer life expectancies. Those helping current retirees with their last year of life will be paid well as that is where over a third of medical expenses are being made. So why all the angst? Perhaps the lack of a viable external enemy is at last forcing us to focus on the real problems here at home, and what we see in the hand mirror isn't so good.

Greg Brock


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