Cleburne Times-Review, Cleburne, TX

Letters to the Editor

August 3, 2010

8/1 Letters to the Editor

Are things getting better?

Dear Editor:

Lew Rockwell of the Mises Institute recently wrote, “Fiat money (unbacked) is destroying civilization right now. It has fueled the predator state. It has destabilized markets. It has wrecked balance sheets and distorted financial markets. It has wrecked the culture by leading the whole world to believe that prosperity can come as if by magic, that stones can be turned into bread.”

Food stamp users have now risen to 40.2 million people or 18.5 million households. With only 100 million nongovernment paid workers generating enough taxes to feed 40 million people plus their families, it becomes two people working to feed four or five. The next time you walk out the door look at what this free money the Federal Reserve has created at the behest of the likes of Barney Franks and Obama. You will see the jobs are gone along with the purchasing power of the dollar, the middle class is shrinking. All that is left is bankrupted people, companies, and governments all because of the creation of fiat money in an attempt to spend our way to prosperity. These problems have never been solved in the last 4,000 years by governments trying to buy prosperity. Creation of money by working and production is the only proven way a country can prosper and its people flourish.

Our forbearers knew this and with the natural resources in America, they built a great country which Obama and his cohorts are rapidly proceeding to destroy. Eleven million homeowners now owe more than their home is worth. Remember, Obama and Franks instructed Freddie and Fannie to guarantee mortgage money for anybody, even with bad credit or none. 

A recent survey by AlixPartners shows 71 percent of Americans report that their economic situation is “the same,” “somewhat worse” or “a lot worse“ than last year. Only 8 percent of Obama’s cabinet and appointees ever held a job in the real world. FDR, Truman, Eisenhower, Nixon and the Bushes had 50 percent-plus people who had actually worked for a living. Is it any wonder the current government cannot get anything right. Obama’s only work experience was as an Acorn and union organizer. I believe that Palin would be many magnitudes better than Obama and Huckabee probably would be also. Remember in November.

Definition from the Daily Reckoning, “A perfect government program — it accomplishes nothing at great expense and adds it to the debt.”   

 

W.V. Bonds

Cleburne

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