Here is a letter in today’s Wall Street Journal by a man who sees America’s terrible economic situation clearly. I wonder what Timmy Geithner would say in response.
No doubt the founders of our republic believed that commerce was the basis for a prosperous future. Commerce meant enterprise free of overly restrictive government regulation. However, the so-called “U.S. business model” has been breaking since Franklin Roosevelt’s bitter antibusiness administration and has been superseded by a Washington, D.C.-centered, central-control model that has never succeeded for long in the real world.
The vast amount of easy money created by the Fed for at least a decade and a half has flooded into the financial sector, creating high-paying jobs that have lured bright graduates from science and engineering. Until the people demand an end to the conceit through the ballot box, the U.S. will continue its descent into mediocrity.
Ted Evans
Seattle
