The Tsunami

To the Editor:

We have just witnessed an earthquake, the downgrading of our nation’s ability to pay its debts. The first waves of the coming economic tsunami are here with us. Whether Standard & Poor’s were the bearers of bad tidings is immaterial. The problem has been brewing here and elsewhere for over a generation: Spend more than you take in. If you think about this situation, you will have to conclude that we were able to carry this voodoo economics this far only by the power of inflation. If you doubt this fact, try to visualize paying our debt with a 1960 national wage. Impossible! But there is a price. We have postponed the inevitable reckoning, but by devaluating savings, we have devaluated our own savings, reduced the buying power of all who saved, discouraged savings, and instead replaced it with a spendthrift policy both nationally and individually.

Where have our politics gone wrong?

a. We allowed our manufacturing base to be exported and looked the other way when one industry after another moved to China or other foreign bases.

b. We have allowed political power blocs to control our national interests. On one hand there are the labor unions and other blocs behind the Democrats, and not to be outdone, there is big business muscle behind the Republicans. The ordinary citizen is left without representation. You delude yourself if you believe that we have true representative government. The power blocs have us between two huge crushers and prevented any meaningful solution to this problem, such as public financing only for national elections. The ability to spread lies and semi-truth with modern communications makes it mandatory in our elections that we change the rules to prevent undue influence. The ability to raise a lot of money should not decide our elections.

c. We have spent money we don’t have both individually and as a nation, in a frightening display of immaturity.

d. We have become the policemen of the world. We should instead concentrate on destroying our enemies’ economic system. Start with energy independence…

e. We have not had an energy policy or program to make us energy independent, a glaring mistake. It is a must and will go a long way also to reduce our unemployment.

f. Not Hollywood, but in God we trust must be our motto.

My friends, let us go to higher ground, a giant wave is coming!

Oscar Berendsohn

34 Apple Blossom Lane, Newtown                            August 10, 2011