This is regarding the article “Great for Everybody” (“City Lights,” March 20).
When we elected Cheryl Cox as mayor, we unfortunately invited in outsiders whose goal is to control Chula Vista. The Lincoln Club, Jim Pieri, Tom Shepard, and now David Malcolm. Can Steve Peace be far behind? How do we get our city back?
Bring In The Goons
Thank Susan for connecting the dots for the general public on bayfront development (“Great for Everybody,” “City Lights,” March 20)! Please let me know when you folks will drop the hammer on Imperial Beach political machinery loyal to the Coxes!
I recently did a story on SaveIB.com about conflicts on council votes within 500 feet of a financial interest. Love to see IB get roasted for that or for the new eminent domain ordinance passed last night. It probably should have been a referendum item on the ballot, since the council voted to give power to themselves, acting as the redevelopment agency. The chamber of commerce did not stand up against the new ordinance, which will go after prime business properties and any residence they can vacate with code-enforcement goons!
The people of IB are at fault for not caring enough to forgo South Park episodes on Wednesday night to go to city council meetings. People who own property in IB are more screwed than ever!
Where’s Dubya’s Thinking Cap?
Thanks for publishing Don Bauder’s analysis of our disintegrating dollar (“Why Plummeting Dollar Hurts You,” “City Lights,” March 20). It reminds us that the Federal Reserve is the source of inflation as well as economic depressions. But it also may help to remind readers that out-of-control federal spending by Dubya and his enablers in Congress is the root cause of Federal Reserve chairman Bernanke’s decision to debase our currency by lowering the prime interest rate.
When our president, who vaporized his brain many moons ago with cocaine and alcohol, decided to invade Afghanistan and Iraq, he forgot that Daddy wasn’t going to pay the bills like he used to. Furthermore, since he knew that Americans typically wish to avoid facing reality whenever possible, he chose not to tax us to pay for his murderous military adventures. So what’s a frat boy to do? Someone has to pick up the tab. So he borrows the money, billions and billions. That’s why the Chinese government is one of our biggest creditors. But because Dubya never put on his thinking cap, he forgot what happens when you suck billions of dollars out of capital markets. There is far less money to lend to people looking for loans or a chance to refinance those bloated mortgages taken out when greed got the best of them during the real estate bubble. In other words, because Dubya and his supporters embarked on an immoral rampage, many borrowers are now paying a high price. But the people who purchased overpriced real estate are not the only ones who will ultimately pay the price for our government’s wrongdoing. All of us will. And I’m not talking about the inevitable blowback-terrorism that our foreign policy will trigger. I’m talking about prices rising every time we shop for food and gasoline. It’s called inflation, and this is how it works.
Once Dubya had dried up credit markets with his spending binge on soldiers and rich contracts to Halliburton, Blackwater, and the rest of the spying-and-military-industrial complex, there was only one way to keep a lid on the economy without admitting guilt or insanity: increase the money supply. But this causes the value of the dollar to plunge. So why do it? Because it lets the government repay its debts with dollars that are worth less than those originally borrowed. And that’s where the Federal Reserve and Ben Bernanke come in. They help the government pull off this nasty trick on the public. How? The Federal Reserve purchases treasury securities (called U.S. Treasuries, which are government bonds). As a result of this purchase, the money supply increases. This makes more of it available for loans at lower rates of interest. That’s what it means when the Fed announces a cut in the prime interest rate. But it also does something else, and it’s not pretty. Since there has been no overnight increase in the productivity of American workers, there are no additional goods and services available compared to before the interest-rate cut. So now there is more money chasing after the same amount of goods, and prices rise. Inflation.
Inflation is basically a shell game in which the government cheats us of the value of our money to cover up its spending sprees. It’s an easy way out for politicians who don’t want to be blamed for economic disasters. They know that public schools churn out turnips by the truckload, so the populace won’t catch on. You can see the result in the pitiful candidates that remain floating on top of the toilet bowl in the presidential race. The Democratic candidates have either surrendered their Constitutional war-making authority to Dubya (Hillary) or have voted the funds to keep the mass-murder in full swing (Obama), and Republican John McCain of S&L bailout fame can’t wait to start slaughtering innocent Iranians while keeping the evil war in Iraq going for 100 years more. Only Ron Paul spoke out consistently against our murderous foreign policy and on behalf of monetary solvency. But too many of us were busy slapping stupid Orwellian yellow ribbons on our cars or cheering the president as he led the choir of pseudo-Christians in their vile one-minute hate. As H.L. Mencken once said, Democracy is the theory that the common people know what they want and deserve to get it good and hard.
Lawrence M. Ludlow
Keep It To Yourself
In response to Edna Foss’s letter of March 20.
Way off!! I am not sure if I am more surprised at her ignorance or that of the Reader for printing such crap, but everyone is entitled to an opinion — right or ignorant.