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Highlands Today
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Economic situation
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Published: June 15, 2009
Is it possible to change "change," or has the charismatic, silver tongued Pied Piper of "Change" led us down the slope so far and with such momentum that we have reached the point of no return?
Capitalism requires that production must exceed consumption. Socialism (veiled Communism) requires that consumption must exceed production. No individual, city, state or nation can long endure when consumption exceeds production. We no longer export more than we import.
Even those who are 20 years younger than my 80 years have heard repeatedly, "As goes General Motors, so goes the nation."
When our nation files for bankruptcy, will China, India and our other creditors accept reduced bankruptcy payouts?
Jim Rahenkamp
Avon Park
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