Thread: WHAT YA GONNA DO WHEN THE WELL RUNS DRY?

Monday, 28 January 2008
WHAT YA GONNA DO WHEN THE WELL RUNS DRY?
By Frosty Wooldridge

In this second of a three part interview, Michael Folkerth’s book: “THE BIGGEST LIE EVER BELIEVEDâ€

These are the things I think about. And my question is...............When the CFR has destroyed life as we knew it, whose going to keep them rich. I wonder what kind of wild dreams these people have of the future. No middle class. No taxes coming in. No one to support them. No resources. Or is the future going to be something we can't possibly imagine?

Zeezil--

“Growth is the most dangerous word in the 21st century."

Thank you for the information above and the name of the book. I cannot believe how much this gibes with my feelings.
I am neither an economist nor a math major, but I have been saying for a few years now that growth is our greatest danger. Corporate executives are rewarded based on either increasing the precentage of profit or the net to the bottom line. An executive who makes, for example, 8% profit every year, is spurned by the board because it should grow by 2% (for example), every year. I will not go into the details of what must be done to accomplish this and maintain one's corporate position. The overall way is GROWTH. This economy has been "enjoying" growth for some time now. No one seems to be paying attention to the fact that the importation of cheap labor has created a false economy that cannot last. In the process of doing this , the side issues of changing America, and not for the best, have been deliberately ignored.

I realize there is no perfect world and changes must , sometimes, be forced to try to reach a constant balance. I also realize that in my working life (1950-2006) that my increased compensation was based on success through growth and increased revenue.

In yesterday's news, I read that somewhere in America, there is a surplus of new homes. These homes were built on spec. The developers, spurred on by profits, as anyone else, used a large group of illegal workers to attain this growth. These workers, however will not represent consumers of a noticeable part of the product they produce, and we wind up with overproduction. This is happening in just about every industry while at the same time , the jobs that generate the revenue to purchase the inventory of various products are either being outsourced, or as in the case of many middle income jobs, being performed by those who will not be the end consumer and , in addition, are here illegally.. Add to that , the revenue generated in paychecks is then shipped out of the country and we wind up with a double blow to America and its working people.
I recently wrote a paper on economics, America's dependence on economics and how it has hurt us. I dropped it, since I thought, "why would anyone want to read a paper on economics by someone who is not an economist?". Well, today have another reason. This book sounds like it contains the thoughts I have entertained for some years now. Before this day is over, I will purchase that book.

Thank you.

PS I live in the Atlanta area. I live close to one source of water--Lake Allatoona. It too, is severely low. I have been here for 12 years. I first came to the Atlanta area on business in 1976. Its bucolic beauty captured me. I went home and told my wife that when we retired, we would move to Cobb County in Georgia. Well, here we are! I moved here because of a healthy economy and a rural type setting in Cobb County Georgia. Almost every horse farm is gone in the past 10 years. Development has been rampant. Prices, which are still much better than most areas of America, have risen significantly. Cobb County is (was?) an excellent place for seniors to live. There are a few tax benefits that help those on reduced, fixed incomes. That is all changing.

PPS I realize that some growth is needed to provide jobs for our children and grandchildren. We could make a good step by enforcing our immigration laws and restoring the dignity and decent income of trades such as carpentry. The middle class would then "hold its own", while the earned income would stay, almost completely, within the country. There are those who will call this protectionism. To them and to all the darned economists who have gotten us to where we are today--I say-- Down with Free Trade--it only gives good jobs to economists. And "Down with Failure to Enforce Our Immigration Laws".