Letters to the Editor, July 1, 2009

Listen to us, legislators

For once our legislators should not let their generous health industry lobbyists dictate their votes, and should vote for what a vast majority of their constituents really want, which is a universally available, government-operated, publicly funded, health-care…

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5 comments


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north

July 01, 2009 - 09:39 AM | Comment # 6214 |

On the contrary, the prudent use of consumer credit is far more beneficial to the economy than savings will ever be.
Putting away present-day earnings only hastens the demise of economic activity since supply that dwindles will never out-pace the current lessened demand.
Allowing for consumers to dedicate some of their future earnings toward consumer goods presents a growth in manufacturing and retail that builds everyone’s bank accounts.
The problem with credit is only that the banks have made collecting high interest and fees a new industry all by itself, draining what should be a surplus of cash to be used as a re-investment in still more economic activity.
A national usury limit of 9 to 12% simple interest would cause a spurt in our economy that could be sustained forever.

Jo Roark

July 05, 2009 - 07:43 PM | Comment # 6309 |

Norman,
You are spot on!

Screwed

Screwed's avatar

July 08, 2009 - 11:43 AM | Comment # 6388 |

I gree with Norman, Jo and Shakespeare.  Hamlet’s Polonius said, “neither a borrower nor a lender be”.  Words to live by, in my opinion.  Was not this economic disaster caused by credit?

north

July 08, 2009 - 12:41 PM | Comment # 6398 |

No, it was caused by greed.
Educate yourselves.

Screwed

Screwed's avatar

July 09, 2009 - 11:09 AM | Comment # 6425 |

I have north.  Barney Frank and Chris Dodd, the chair and co-chair of the senate finance committee, pressured their quasi-government housing lenders fannie mae and freddie mac to purchase and re-package those ninja (no income no job verification) loans.  Later to become known as the sub-prime loan mess.  This in-turn lead to mass speculation and un-sustainable rates in growth in the housing market.  Then (like all markets) what comes up must come down, leading to the eventual collapse in prices.  Now you have an education.

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