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Democracy requires our participation

Aspen Times writer

Dear Editor:This economy poses a quandary for investors. Despite dramatic lowering of income taxes and record lows in federal interest rates, experts describe the United States as being in a recession.Stock prices remain depressed. The cost of raw goods has doubled. Pension funds are being dissolved. Bankruptcies are booming, returning army reservists find their jobs disappeared, while a nationwide bust in housing prices is predicted.This stands in contrast to the strongest U.S. economy in history during the previous administration.Milton Freedman, the mentor of capitalism, described how millions of individual monetary decisions structure a market and how, if people feel they are able to benefit from the fruits of their labor, they are likely to work harder and invest more aggressively. This is the base reasoning for stimulating the economy by lowering taxes and interest rates.Citizens sensing that elections were compromised, watching the legislature intimidated and misinformed and wars started for dubious reasons might be causing the downturn. But I’m waiting until Alan Greenspan gives the money away for free and wage-earners taxes are dropped to say for sure.Wake up, get informed. Democracy requires our participation.John HoffmannCarbondale


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