Our Current Currency Crisis

ALL OVER THIS GREAT NATION (AMERICA), city governments, county governments, state governments, and the big federal government have the same problem; impending bankruptcy.

back in the more prosperous nineteen fifties and sixties all these governments made extravagant promises concerning retirement benefits for public employees. now, with the american economy in a virtual shambles, we the people cannot make good on these commitments; its just a matter of how many, and who, get left out in the cold.

the state of wisconsin just completed a sixteen month civil war over what benefits, exactly, the good people of wisconsin are going to give the public employees, and it was nasty, with a nasty outcome, a harbinger of things to come. similar battles are shaping up in san diego, san jose, and cities all over america, and state and federal services will be curtailed as well, amid much acrimony and fighting, as america dcescends into poverty.

in america we simply do not manufacture enough material wealth to render meaningful the money we print and spend. (remember, amount of money in circulation = total amount of all exigent goods and services, fundamenat law of ecomonics).

my sister retired a few years ago from the big fed gov, at the tender age of fifty five, with a whole half lifetime of retirement benefits open endedly waiting on her, as she ages, slowly....

if she lives to be a hundred, which she well might, will the fed gov still be sending out her paycheck, and paying for her health insurance? one would certainlly hope so.

one would hope that forty years from now there will still be a a U.S. fed gov to do such things, and that it will be financially sovlent, issuing meaningful paychecks to all the good folks like my sis, with credible, acceptable, workable currency.

and that, dear friends, might just be a whole heckuva lot to hope for, indeed, perhaps, too much.

a currency system which works is a tool, a grand and magnificent tool, and like all tools will decay and fall into disrepair and eventually deteriorate beyond any hope of repair, if it is used unwisely. then, we all begin carrying our paper money in wheelbarrows, and fighting over food, clothing, and shelter

are we using our currency system wisely when we allow eighty percent of all assets to concentrate in the hands of one percent of the population, when the federal government gets to be sixteen trillion dollars in debt, when an entertainer becomes fabulously wealthy, and a teacher barely pays bills?

see the new book "The Price of Inequality" by nobel winner Joseph Stiglitz

are we using our currency system wisely when we spend trillions of dollars on weapons of offensive warfare which contribute nothing to our safety?

there are a million ways to abuse any tool, and certain, very definite ways of using it properly. if we don't soon learn how to use the miracle tool we call "money", we'll lose a very valuable tool.

Bb

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