Web Letters: The Panic of 2008

While I agree that the stimulus package will be helpful for at least a few weeks, one significant way to avoid recession is to stop the funding of the Iraq War, since this administration still needlessly sends money overseas to meddle in the foreign affairs of the Arab world. Thus, private government contractors that are corrupt like Halliburton and Blackwater don't deserve a red cent from the American taxpayer!

As for the stimulus package, it would be worth saving the $600-$1,200 we will be receiving, as opposed to spending it in one place with shopping. It's smart to have a spare or private account for some financial cushion if Social Security ends up not giving it to us.

What would a progressive in the White House do, as opposed to unqualified, incompetent and/or Nixonesque politicians?

Nicholas Rosen

Great Falls, VA

I believe the psychological "effect" of the rate cut might boost Wall Street for a few moments, but the chief benefit of the rebate for the people will be to buy gas and groceries for a month, which they would do anyway. This will not boost their confidence in an economy that is failing everyone but the rich. Since 70 percent of the economy is related to consumer spending, lower wages and "competing" with sweat shop wages overseas will eliminate any disposable income for the American market. When America's middle class lifestyle disappear with the American market, there will be a recession or depression.

Pervis J. Casey

Riverside, CA

Where are the editorials and columns about the role of debt-based currrency and the viability of a privately owned and operated Federal Reserve?

The Panic of 2008 is all about debt-based currency and the role of the Federal Reserve in (not) regulating the financial system.

Who will ask the tough but necessary questions: Why shouldn't we fire the Fed? and, What is the role of debt-based money in the rapacious destruction of our environment?

Michael McKinlay

Hercules, CA