Basic HTML Version
What's Wro
1~
With the
World's Econ
What are YOU most
concerned about?
lf
you
are
typical, it is not the threat of hydrogen bomb war, the
space roce,
crime, or even the Vietnam War . The average
American, Canadian, European, Australian citizen is most
concerned about
making
ends
meet FINANCIALLY.
But WHY are the most
prosperous
nations in debt?
WHY are people worried
about
keeping jobs and puzzled
about the economy of their own nation, state and city?
by
Gary L. Alexander
"COST OF LIVING UP
6
PERCENT";
"Cities and States Goiog Bank–
rupt''; "Deficit Spending Sets
Record"; "Further Inflation Ahead, Say
Economists"; ''Unemployment Worst in
Nine Years"; "Total U. S. Debt Tops
Two Trillion"; "Wage Demands Rise'';
"Strike Imminent"; "Trade War Looms";
"Balance of Payments Deficit Sets
Record"; "Welfare Costs Skyrocket";
"Big Business Bankrupt."
Such are the varied - yet intricately
related - headlines in your daily news–
papers and weekly news magazines,
constantly blaring forth the tragedy of
our world system:
economic chaos and
crisei!
Unemploymeot or Inflatioo–
Choose!
For most people, however, the main
"economic crisis" is the ir prívate pay-
check. Jt isn't going as far as it used to.
Pcnsioners, and others on fixed income,
particulady fecl the squeeze. Their
incomes remain the same, but the value
of their dollars (or pounds or francs)
diminishes.
Survey after survey of American
problems shows that of all the problems
that face Americans today, the
hou•-to–
mttke-ends-meet iJSIIe Jeems to domi–
na/e.
Year-in and year-out, personal
economics seems to be the biggest
furrow
in
pcople's brows.
With such financia! insecurity, many
wonder: "Whcrc is my ncxt paycheck
coming from
?"
"When is the govcrn–
ment going to 'freeze' my salary
?"
"Why save money when ioBation robs
me of buying power ?" and most worri–
some: "What if unemployment strikes
me?"
Most families are only two or
three paychecks away from bankruptcy
at any given time. There are few
real
assets to draw on.
Yet, today, we are told we cannot
have full employment without our dol–
lars or pounds losiog value - com–
monly call ec.l ioRatioo.
Most oations choose
infiation
rather
than suffering unemployment, and that
briogs a host of further problems. Wor–
ried government leaders must then con·
cero themselves with budget deficits and
a risiog natiooal debt. With these
problems comes the threat of beiog
priced out of foreign markets, sanctions
against the debtor nation's products,
tariff walls - and possible trade war.
Of late, the world economk ther–
mometer has indicated
:t
perennial
"crisis condition." But
WHY
continuing
money insecurity -
both personal,
national and international? Why must
hard-working human beings face finan–
cia! worries? Why must the world's
richest oation have a
two-triliion-do11ac
public and prívate debt? Who or what
is to blame?
Experts Baffled
The basic
caiiJeJ
of economic prob–
lems are buried in the mish-mash
of economic blame-gaming between dif–
ferent "camps" of experts and laymen.
Everybody can find somebody else to
blame. The unions blame management,
management blames the unions. The