i record BookTV since it is the most accurate way for me to get information. I find most of the media analsys superficial. I recently came accross the Historian: HW Brands. and plan to feature some of his discussions on my blog. I find him to be a clear thinker and unbiased.
The producer of this video makes important points about the interest payments on the national debt that SOME of you are not aware of;
BUT I CANNOT BELIEVE THAT THE PRODUCER BLEW IT!!!! he left out the most important point!!!
The scary issue: what happens when the federal reserve has to raise interest rates to combat inflation?
Today, those of you with certs of deposit know they pay a measly 1% because the federal rate is less than 1%!!!!
If you are older than 45, you might remember when the Fed Rate exceeded 20% under Carter.
If the Fed Rate goes up to combat inflation , like many INVESTORS ARE BETTING ON, then the INTEREST ON THE DEBT will bring our government to a screeching HALT.
WE ARE NOT DOING TOO WELL: In the last two years we have accumulated national debt at a rate more
than 27 times as fast as during the rest of our entire nation's
history. look at our miserable two year history. SEE THE TABLE ON THE NEXT PAGE; also see the rebuttal from the distinguished John Vallieres.
A very interesting column. COMPLETELY NEUTRAL 9some argue he is a closet Repbulican; others argue he is a closet Democrat) Be sure to Read the Poem at the end.
Charley Reese's final column for the Orlando Sentinel... He has been a journalist for 49 years. He is retiring and this is HIS LAST COLUMN.
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