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Web Letters | The Nation

Web Letter

Representative Kaptur is one of the few people whom I trust to be well-informed about her subject matter.

James L. Pinette

Caribou, ME

Nov 30 2009 - 2:15am

Web Letter

There are other people, people as a group far more deserving of concern than the ones who borrowed beyond their means because they did not care or do not know how to read. They are infinitely more deserving than the Wall Street criminals who have been rewarded by our two most dishonest presidents, Bush and Obama, and by our corrupted (except for a few) members of Congress.

They are the people who no longer get any income from their savings, because the Federal Reserve has kept interest rates down (now to zero!) to maximize bank profits and to stimulate the economy by trickle-down.

Not only do they not get any income from their savings, but they are being tempted to take risky investments in the equities market or to buy relatively low-yielding long-term, dollar-denominated bonds in order to make up for mounting inflation. That inflation is accelerating and would go like a rocket as soon as the economy seems to pick up a bit.

Meanwhile, our war-mongering simpleton of a president, who can think of nothing new since George W. Bush, is extending our war to Pakistan on Chinese money, turning our own money into Monopoly play money.

We, Americans, are the victims of a long line of presidential scoundrels--Nixon, Reagan, Bush, Clinton, Bush, Obama--and a Constitution that is a sham!

Otherwise, we are doing fine!

Alvin D. Hofer

St. Petersburg, FL

Nov 27 2009 - 9:20pm