by Gerald Spencer

Created on: November 18, 2009   Last Updated: November 23, 2009

MY ECONOMIC PHILOSOPHY

The US International Trade Deficit must be corrected by any means possible! This is the basic structural economic foundation problem that will destroy the powerful US economy.

The USA is losing the Economic War! The USA must re-industrialize, or become a third world nation of mostly unemployed beggars.

The USA has lost the World Technology Leadership! The USA must change the emphasis of our education systems back to technology and science if the USA wants to compete in the technology competition.

The USA is Bankrupt! Instead of redeeming our freshly printed US dollars and other currency with gold, the US government is allowing these freshly printed US T-Bills, Bonds, or other Securities to be redeemed for title to privately owned businesses, factories, casinos, hotels, farms, land, forests and other privately owned assets located in the USA that were created by previous US generations to foreigners in order to pay for the manufacture of imported products rather than have US citizens work to produce the things that we consume, and also to pay for growing US government expenses that are in excess of our federal tax collections.

When the USA has no more privately owned land, hotels, casinos and other assets to sell to foreigners in industrial countries in return for freshly printed US T-Bills, Bonds, or other Securities, those foreigners will not buy any more of our freshly printed US T-Bills, Bonds, or other Securities. Foreign manufacturers will then stop accepting US dollars for the consumer products that we continue to import. The US government will then not be able to sell any US T-Bills, Bonds, or other Securities to raise US dollars from these foreign manufacturers to pay for our US government expenses and/or our imported consumer products.

The USA is Committing Economic Suicide! The USA will become a third world nation when our US dollar loses all of its purchasing value.

Economics, Trade Deficit, Government Spending Deficit, Jobs for Americans, and the Buying Power or value of the US Dollar are all interrelated and very important. These subjects need to be understood by the General Public. Economics is not that complicated. It is interlocked with understandable cause and affect principals of various economic action options that can be easily understood by almost any High School Graduate.

Real wealth and real monetary value is created only when the members of a family (or a tribe, nation, city-state, etc.) plant, grow and/or harvest

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