Letters to the editor Nov. 9
Book a must read
to understand economic crisis
The book “Lost Decades,” by Chinn and Freiden, is a must read for all those wanting to understand the economic crises of today. Bill Clinton left a $286 billion surplus in the government when he left office. Not by popular vote, when Bush came into office in 2000, it was all downhill from there.
Some of the money loosely loaned out to people during those spending-frenzy years between 2001 and 2007 was unproductively spent by many Americans. I am not talking about first-home buyers, but loans on floating, false equity values on a home. Many Americans spent on fancy electronics, computers, new cars, etc. Many of these unproductive loans also contributed to the poor economic situation today, by us still owing other nations for the money we borrowed to satisfy these frivolous loans.
Today, as frugal as times are, do yourself a favor and have what money you have and earn, work for you. Have that money generate some kind of income for you.
doesn’t get it
I emphatically agree with Shawn Wells of Dayton, who in his Oct. 28 letter to the editor complained about Chuck Muth’s recent column titled “Occupying Loserville, USA.”
Mr. Wells quite rightly pointed out that the column was filled with name-calling and derisive descriptions instead of commentary which could lead to a thoughtful discussion of the issues raised by the Occupy Wall Street movement.
I think it is because Chuck Muth doesn’t get it.
I suggest he refer to the words of Alan Grayson, who summed up the “Occupy” phenomenon on “Real Time with Bill Maher” last week. Grayson said, “They’re upset about the fact that Wall Street has iron control over the economic policies of this country, and that one party is a wholly owned subsidiary of Wall Street, and the other party caters to them as well.”
He went on to say, “If I am the spokesman for all the people who think we should not have 24 million people in this country who can’t find a full-time job, that we should not have 50 million people who can’t see a doctor when they’re sick, that we should not have 47 million people of this country who need government help to feed themselves and that we should not have 15 million families who owe more on their mortgage than the value of home, OK, I’ll be that spokesman.”
He got a standing ovation. I applaud him and support him.
Graham Hollister, Jr.