The most visible signs of inflation are higher interest rates caused by the Federal Reserve Board and sky-high gasoline prices caused by our “oil-producing friends.” You would expect that after we spent billions of dollars and American blood restoring freedom to Kuwait and protecting Saudi Arabia, and after rescuing Mexico several times from bankruptcy, our “friends” would be embarrassed to so blatantly gouge American taxpayers.
Because of past interest-rate increases and worry that more increases will come, and because of the Justice Department attack on our most successful high-tech company, Microsoft, the stock market has dropped precipitously, wiping out billions of dollars of investors’ wealth. The Federal Reserve Board’s role in the economy has been described as taking away the punch bowl when the party gets too wild. Alan Greenspan & Co. have not only taken away the punch bowl, they have fired the band!
It is time to remember that our government should not be in the business of destroying wealth, but protecting it.
