BP Chief on the Hot Spot - Barrons.com

BARBARIANS AT THE GATE - AN ANALOGY TO ANCIENT ROME: BP Chief on the Hot Spot - Barrons.com

Somehow, in reading the first part of this article's cautionary reminders on the vagaries of the government, one is reminded of the fall of Rome. How can this be?

Well, first of all the politicians in Washington have to be seen as the barbarians. After all, they are the ones who want to despoil and take the accumulated wealth of the people (in the analogy, the people of Rome).

So the people of Rome are watching the barbarians around the periphery of the empire.

The barbarians raise taxes here, which is equivalent to capturing territory. However, in the analogy, the loss of jobs and economic capacity are the equivalent of actual land territory (as the barbarians descended into the Empire).

So what historical year are we? Is it the 3rd century AD or are we into the 4th century?

Clearly the equivalent of the Roman army (insightful laws and policies) are being crushed and crippled and reduced in their ability to support the economy (the equivalent of the army); yet, most people seem ignorant of the despoiling occasioned by the barbarians.

So, with barbarians at the gate, what will happen? Randy has given us the low inflation argument.

Stephen W. wrote:

We are in 64 AD. The Battle of the Teutoburg Forest has already taken place and we lost a legion (division) there. We have an arrogant and self-absorbed dictator who fiddles while Rome burns. Soon the scapegoats will be found and fed to the lions. But we still have 400 years ahead of us, so I'm long stocks, including those who drill for oil and natural gas.