The stock market has had an historic week - it's worst ever since inception in 1792.  And speaking of history, time to remind those who plan on, or contemplate, casting their vote for Senator Barack Obama:

Many people think that The Great Depression of the 1930's started when the stock market crashed on October 29, 1929 - Black Thursday.

Not so.

While the stock market crash contributed to The Great Depression, it was not it's root cause.  The truth is there were a number of key factors that combined to cause the depression.  A confluence of events, as we have been repeatedly warning about in modern times, which combined to precipitate the catastrophe.

We want to point out two of these key factors that lead directly to The Great Depression, after the market crashed:

• Congress raised taxes

• Congress passed protectionist trade legislation

Barack Obama has stated repeatedly that the current financial crisis is not a game changer for his Big Government ambitions should he become President.

Barack Obama has expressed the intent for enacting protectionist legislation, particularly, but not limited to, his desire to dismantle NAFTA (North American Free Trade Agreement).

Barack Obama has stated categorically that he will raise taxes.  He says he will only raise taxes on those earning $250,000 or more.  This is a classic politician's lie.  Obama plans to raise taxes, and we have no doubt that once in office, the $250,000 threshold will wind up on the sky-high trash heap of broken political promises.

Remember this:  The Great Depression was not caused by the stock market crash, it was caused by a series of governmental missteps after the crash, all of which converged to trigger a financial calamity.  Two of those missteps where raising taxes, and enacting protectionist trade legislation, both advocated by Barack Obama, and both of which Obama claims he will proceed regardless of current events.

Last week the stock market crashed. There is no other way to describe what happened.  This crash, of and by itself, does not automatically lead us to the Second Great Depression.  However,  next year, if elected, Obama has promised to meddle with the economy in a way that has previously led to a great depression.  And he has subsequently affirmed his intentions.

As the philosopher George Santayana famously said:  "Those who cannot remember the past, are condemned to repeat it."

There is grave peril in electing an ideologue neophyte into that high office.

Grave peril.