By Land or by Sea?

Paul Revere made his famous midnight ride to warn the countryside of an attack by the British. He asked his friend, who was to be in the North Church tower, to light one lantern if the attack was by land, two if by sea. Seeing the first light flicker in the belfry, he leaped astride his horse and whirled to take one more look. A second flame! The attack would be by sea and Revere set out at a thundering gallop to take his place in history.

I wish we had someone in a tower who could look and listen for the shuffle of British feet manning the boats on shore. We are not so fortunate, though. We know only that our nemesis–an economic meltdown–is lingering in the dark, waiting to attack like our oppressors of that time. Whether it comes by land or by sea, we do not know.

In a sense, all of us are looking toward that tower. Like the Americans of Revere’s era, we have endured the harassment and insults of arrogant and incompetent tyrants. We know the big attack is coming, but from where? Deflation? Inflation? A major depression?

Our leaders think that injecting trillions and trillions of dollars of paper money into our economy will keep the enemy at bay. It may, for a while. In the end, though, the bill will come due and the unholy legions will come calling. When it does, where will you be? Asleep in bed armed only with a sheet of paper money or in a financial fortress built of solid knowledge and sound discipline?

Wake up, my friends. Midnight is upon us.

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Filed under economy, financial crisis, new business

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