ECONOMICS IS PRIME INTEREST

The fiscal news hasn't been cheery. The most popular cocktail in Paris is "America On The Rocks." Last Wednesday - September 19, 2007 - the "Reckless Speculators Relief Act" was passed by the central bank (Federal Reserve.) The Fed bailed out high-risk investors and their creditors, instead of letting them jump out of windows.

The half point rate drop was a surprise which caused dancing in the street (Wall) and a record jump in stock prices. Others were ecstatic: capitalist predators, market gamblers, dumb bankers and too-clever bankers. Only the man in the street (Main) is at a loss to know what happened.

The song, "Don't Know Much About History," should have been written about economics, because what you don't know will hurt you. Fiscal ignorance prevails in academia, government and the media. The economic price is so high that it makes life difficult.

We're skating in the middle of a lake on very thin ice. The national debt- which President Franklin Roosevelt said didn't matter because "We owe it to ourselves" - is said by Rush Limbaugh to be inconsequential in this booming economy. "We'll grow out of the debt," Rush claims.

Tell it to the Arabs and the Asians who hold about half of our $9 trillion debt and are tiring of Bush's dollar-cheapening tactics. They don't want junk currency returns on the bonds they purchased. The Euro is a much more stable currency for investors, and it's partially backed by gold. Can you believe it?

This reminds me of when France's President Giscard d'Estaing met with President Gerald Ford. He asked, "Why do you cheapen your own currency?" Ford's answer escapes me, maybe because there was none.

The U.S. Constitution dictates that Congress control the money supply, but politicians gave it away to a very unfederal reserve banking group of private bankers! If this crime is to be undone, we must hurry to beat the collapse of the dollar.


IT'S ALL SO SIMPLE.