The American Spectator

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We Like Ike

1.18.08 @ 12:01AM

(Page 3 of 7)

The end of the second paragraph is the first of two killer notions: "It also creates jobs as capital is directed to where it can produce the best results."

Capital is the money that is used to create, improve, and expand businesses. Capital is earned by turning raw materials into finished products of greater value, the profit from selling them then being used as capital.

Why in the name of Lenin do we want to send our capital to other countries and thereby adversely impact our own economy? Why do we want to create jobs in other countries at the expense of our own?

Best results for whom? Multi-national corporations and would-be multi-national corporations again? Speculomanipulators of a wide variety, who buy and sell money for a profit and when they win, we lose? Every time? Investospeculators in the stock market who are concerned only with their personal portfolios?

The final insult is in the last paragraph: "Open trade is one of the best tools to promote prosperity in societies both rich and poor."

Marks Almighty! Here we go again! Divvy up the wealth that our country has been building up for two centuries at the expense of our own economy!

They sound like the UN, for goodness sake!

Don't these two over-generous souls realize that using our hard-earned capital to "promote prosperity" elsewhere is making our own economy worse?

Don't they realize that the recent decline of the dollar is being caused by one of the fundamental truths of economics: bad money drives out good money?

Don't they realize that people who want to spend money overseas want a country's currency in direct proportion to what they can buy with it.

Stated from the other perspective, if they can't buy much with a country's currency, they don't want it.

When our manufacturing plants close and other countries take them up, their currency gets better and ours worse because they have something of value to sell and we don't.

I can assure them that we ain't gonna make it selling Big Macs and Whoppers or services like Time and Management consultants.

Steel! Automobiles! Clothing! Appliances! Electronics! THAT'S what we have to sell!

Oops! Bad examples.

Letter to the Editor

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