Fed tells us about interest, but what about cost of living?
Economies are born out of product production, now known as the Real Gross Domestic Product. The “Real” means it is not inflation adjusted for reasons of long-term accuracy. The RGDP then spawns both the related and unrelated service industries. All of this is not possible without energy and power.
In 1960, the RGDP, as measured by the Federal Reserve Bank of St. Louis, was 10 percent. In 1963, it fell to 5 percent. Between 1963 and 1993, there was a 10 year running average of 2.7 percent RGDP. It has yet to improve.
The Federal Reserve also reminds us of the recessions between 1960 and 1961; 1969 and 1971; 1973 and 1975; 1980; 1981 to 1983; 1990 to 1991 and 2007 and 2012, all of which were accompanied by unemployment and inflation. Not to forget the cost of living to wage ratio floating somewhere in space. The Fed likes to point out that inflation has been kept in check for quite a while. But at what cost of living level?
In 2007, the cost of foreign oil nearly collapsed our 70 percent service related economy. In 2008, the financial industry collapsed after 28 years of loose investment policies set in motion by legislation from 1980 to 1982. The Fed continues to buy its own securities to subsidize an economy that hasn’t prospered for decades. When you all but eliminate energy production and manufacturing, you cancel out working class prosperity. What does a $17 trillion national debt (and climbing) tell you?
Ron Wood
Dayton
Columnist was expressing her opinion, not hatred
In response to Margaret Konieczny’s letter regarding her displeasure over Ann Berdnarski’s column. We are amazed how easily the word “hatred” used to describe Ms. Bednarski’s feelings regarding the current administration. We have read most of her articles in the paper and don’t think she has exhibited hate in any shape or form. What we have seen is HER OPINION with regards to her disapproval as to the way the current administration is operating.
Rather than “ruminating” on past issues that have been dealt with, she speaks up about what she perceives are injustices or wrong doings by the administration, and there have been several recently.
To say her articles are not “substantive” is just ridiculous. Her stories of her life experiences with family, doctors, students and past peers are HER STORIES. She usually concludes her stories with a lesson learned or something to think about.
And the typical tactic of name calling by Ms. Konieczny? Well that is plain fear mongering-a bullying tactic. In this case, she used the word “idiot.” Shame on her! And to suggest the Appeal stop publishing these articles? May we suggest she just not read them?
We endured years of Mr. Paslov’s articles that were always insulting, putting down and name calling to anyone who didn’t agree with his philosophy, and we didn’t ask the Appeal to stop publishing his articles. We find Ms. Bednarski to be a breath of fresh air, well spoken, thoughtful and kind. She’s not alone in her concern and disapproval of this administration and where this country is headed.
Lisa Partee
Carson City
What happened to our standards for our leaders?
The title of the book written by Lee Iacocca in 2007. The obvious qualities every leader should possess.
CURIOSITY. He must listen to people outside the “yes sir” crowd.
CREATIVE. He must think outside the box.
COMMUNICATE. He must face reality and tell the truth
CHARACTER. He must know the difference between right and wrong, and have the guts to do the right thing.
COURAGE. Courage is not swagger. Courage is a commitment to sit down at the negotiating table and talk.
CONVICTION. He has to have fire in his belly.
CHARISMA. The ability to inspire. People follow a leader because they trust him.
COMPETENT. You must know what you’re doing. More important than that, you must surround yourself with people who know what they’re doing.
COMMON SENSE. All a human being has is the ability to reason and his common sense. Perhaps our elected officials should visit the real world once in a while.
These qualities have dwindled over the past several decades, mainly because we the voters have become credulous and no longer demand the leadership which made America the greatest country in the world.
Inga Silver
Carson City