Letter to the Editor:

DEMOCRATS DON’T CARE ABOUT THE POOR

Our economy can be effectively compared to four men in a room that want to play cards, but they don’t have any cards. That problem is solved by a fifth man in a room next door that has a deck of cards. He lends them out with interest, as he wants to control the economic lives of the four card players. Now he needs to print more cards and lend them out, also, with interest. They get lent to the four. The destructive economic activity has now begun. The debt level of the four now goes up. One of the four players will likely have to bough out and/or go bankrupt so that the debt can be paid.

Now that description is over simplified but it describes vary will how our system works. Any 5th grader could understand it when explained this way. The fifth man in the room next door is the Federal Reserve. Before the Federal Reserve came into being in 1913 the dollar was printed without interest accrued to it immediately the minute it is printed like it is now. We need a serious national discussion NOW on what type of economy we want and need. Our current system is based on credit forcing monetary inflation and a gradual lowering of our standard of living designed mostly by Englishman Lord John Maynard Keynes. I might add that England no longer has a middle class.

I propose the Austrian School of Economics based a system on land and labor as espoused by Senators Rand Paul and Ted Cruz. Land and labor have real value as compared to a system based on credit where the value of the dollar has to continually decline in value forcing all of us to work much harder just to try to maintain a standard of living.

You see the more currency that is thrown into the system, to pay the public debt, the more each dollar declines in value forcing price levels of everything that we buy to go up. It’s a natural phenomenon of market action that we can not control as long as spending in Washington continues unabated.

Continued Oct. 17 News-Herald.

Dean Ledvina

Rural Chelsea