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Economic nemesis is already underway

 

Last updated 5/24/2007 at Noon



Letters last week, one by sagacious Robert F. Green and another by Glen Holzhausen, allude to the coming ruin of the American economy. Holzhausen predicts the collapse will be caused by the Democrats, somehow overlooking the incredible abuses of Mr. George Bush. Mr. Green views that the destruction is already well under way; he refers to “Armageddon on Wall Street.”

The stock market is now at an historic peak. Those with large investments in the market are rolling in the dough, but the American middle class American is suffering. Wages for the middle class and lower-income people have not moved upward in 18 years, yet gasoline prices have more than doubled since Bush came into office. Most American families are struggling to pay mortgages, college tuition, taxes and health care. The very wealthy are luxuriating, while the middle class is being destroyed.

The stock market bubble will burst, with possible catastrophic consequences. It will weaken America and could be our nemesis.

No nation in history has been able to maintain an empire abroad and a democracy at home. America is now about to pay for our empire and the price will be more than destruction of the dollar: the greater price is American freedom.

This is the message of a new book by Chalmers Johnson, a widely acclaimed historian and author of dozens of books. His latest book, Nemesis, was released last month. Chalmers Johnson is coming to Fallbrook to address the “Nemesis of America” on Saturday, June 2, at FPUD. I’ve seen him speak once, and have seen him several times on television. He is one of the most powerful intellects in America, and also one of the most controversial.

Holzhausen types will scoff, but I believe Mr. Green will find Johnson very enlightening.

Joe Howard Crews

 

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