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Reader expresses concerns about economy

Posted: Friday, April 17, 2009

As much as I would like to believe the economy is getting better, I feel like we are in for more of the same for a while. I think this pop is temporary and due to the feds fire-hosing everyone with money that's got their hand out.

Not just that, the same people who lived beyond their means, and the same people who loaned them money are back at the table again. GM has grown into an international tape worm. The ripple effect of their upcoming bankruptcy will be felt in all sectors and regions, driving the economy further down and unemployment higher.

The banking system is still a mess, and we will see many more failures before any sense of normalcy returns. Greed got us into this along with lack of oversight by those whose very job it is to protect hard-working citizens, like myself.

This isn't just a simple correction in the market. There are systemic problems that run deep in almost every facet of our economy.

To my way of thinking, it all boils down to one thing: greed. Those who can, do; and those who won't, well they are people like me who spend their adult lives working hard and striving for a comfortable retirement all to be stolen at the hands of people like Bernie Madoff and others.

Yes, I am bitter. And it will take some time for that to subside. I will eventually reach a point of balance. But I will never, ever, be fully trustful of someone or some institution that lays out a good sales pitch and promises of great returns. I have learned a lesson the hard way, and while I may forgive, I won't forget.

I am one of millions of Americans who trusted the "system." Well, the system is made up of people. I have lost faith, and I am very leery of it all now. I don't even trust our government.

I wouldn't put it past them to sell us off to the European Union behind our backs and hatch a plan to put us on a worldwide currency. Then what would happen to the remainder of American's savings and 401K plans? They could make the dollar worthless. Then what would we have?

Andy Lovett

Soldotna



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