Wednesday, January 14, 2009

LTEs in The Oklahoman

I've noticed a fair number of letters-to-the-editor in The Oklahoman that are supportive of free markets and opposed to government intervention. Letters in the Tulsa World don't seem quite as supportive - however, I have not been studying the World as closely as I have the Oklahoman.

I've been thinking about posting a number of the recent LTEs in The Oklahoman to give some idea of the kind of support Capitalism seems to have here in central Oklahoma - and comparing those with LTEs in the Tulsa World.

Recently, The Oklahoman has cut back on the number and frequency of LTEs - probably reflecting recent belt-tightening at the paper itself.

Here's a good one from today's The Oklahoman:
Once upon a time ...

Bernie Madoff is headed for jail for running a Ponzi scheme. If I understand this correctly, the scheme involves taking money from investors today to pay yesterday’s investors. Sound familiar? I paid into Social Security yesterday and it’s paying me today from money it takes from people it promises to pay tomorrow. I’m told the financial industry collapse was caused by lending money to homebuyers whose payments were more than their income. So the federal government, which already owes three times more than the gross national product, is borrowing money to give to banks that loaned money to people who owed more than their income. To stimulate the economy, the government is going to hire people to do jobs and pay them from money that it takes from people who don’t have government jobs.

We can all breathe a sigh of relief because only Madoff is headed for jail and everybody else can live happily ever after.

Tommie L. Matthews, Yukon

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