Let's Remember Pearl Harbor

Seriously. You'll feel better about the year ahead if you do.

On December 7 we commemorated the 70th anniversary of the attack that propelled the U. S. into World War II. Sadly, this year's gathering of veterans who survived the onslaught will be the last; their number is dwindling.

Seventy years ago, America was struggling out of the Depression. One out of five homes (and the great majority of farms) lacked electricity. The war brought shortages and gas rationing.

In the Pacific the Japanese wreaked havoc. (I later knew a couple of kids whose families had spent the war interned in the Philippines.)

In Europe, Germany had occupied most of western Europe and invaded the Soviet Union.

Today? Even poor American families have electricity. Most have air conditioning. Germany is helping keep the rest of Europe afloat financially. Japan sends us Sony flat-panel HDTVs.

This post is written by a blogger old enough to remember hearing FDR's "Date which will live in infamy" speech live. Believe me, by WWII standards, the problems and worries facing us in 2012 seem almost trivial. Many troubles are of our own making. Sobering up from a massive financial binge is no fun, but we're making slow progress.

Who knows? Even the Presidential election campaign could turn out to be entertaining. Not likely, though.

For fiduciaries both corporate and individual, 2012 will bring new investment uncertainties and who knows what tax puzzlements. Nevertheless, Happy New Year!