NATIONAL DEBT

U.S. economy is in trouble

I’m writing in response to Chris Schneider’s incredibly well-written commentary in The Beachcomber’s August 29 edition, wherein he asks for help in keeping the ferries running.

Chris, I’m sorry, but I have reason to believe that what you are talking about is probably going to get worse before it can get better. I suggest you think long and hard about what I am about to say.

I admit I don’t know what the financial condition of Washington State is, but with the national debt at $35 trillion, the U.S. economy is in the worst shape it’s been in since the great depression of the 1930s — and that’s going to impact every state in the union.

Every 100 days, the U.S. has to borrow another trillion dollars just to pay the interest on its debt. The U.S. dollar is losing respect in much of the world. Of course, you probably won’t hear any bad news from most people connected with the government in an election year, or in any other year, for that matter. The mainstream media is now controlled, so they will only tell you what the government wants you to hear.

These days, a lot of independent experts in the most important fields have to be careful about what they say, or risk losing their job, career or reputation.

With respect to the state of the economy, you might check out my favorite economist, Professor Michael Hudson PhD (michael-hudson.com). I have a BA in economics and an MBA in corporate finance, so I know a little about the topic — at least enough to recommend someone who knows what he’s talking about, and will tell you what he really thinks.

Mark A. Goldman