We as a nation are rapidly heading for Third World status thanks to foreign countries investments. According to the latest TV news broadcasts we as a nation owe $9 trillion to these foreign countries.
Will the above statement ring the bells shake you up or bring you to realize that the people need to use their common sense and get to work on avoiding this future devastation? It s very close.
We should be aware that President Bush controlled by his neoconservative advisors with their input, along with the obsession to always be right is jeopardizing the country s wealth and world status. These countries along with the rich in our nation are providing the billions he is spending on the Iraq war. The procedure is very simple: foreign countries buy our bonds and other negotiables by the billions it s safe money, better than the banks in their countries plus a better interest payout. As an aside this is where the rich of our country are helping the treasury where else can they make money? I must admit that the rich, by pooling their money in treasury bonds, etc., indirectly help our economy. Honest endeavor and paying their true share of taxation would prove them to be upright citizens.
China, as a country coming to affluence, would like to see America go bankrupt. Let America deplete its resources and military might due to a wasteful, stupid war, Bush s folly. The people of this country should put their common sense into play to save us from future recessions or depressions. If these foreign countries withdraw their present assets, will we as a nation be able to pay back a total of $9 trillion?
Hopefully new leadership will be coming about when we have the elections in November, with a greater balance of power to put us on the right track for a better chance of recovery and a return to our normal way of living.
Ken Courtney
Lakeport
