Letters to the editor from this week's Chronicle:

To the Editor
Dear Sir:
As Idahoans we are proud of the fact that our budget is always balanced.  Of course it is a legal requirement.  Still we work hard to get everything covered while balancing the budget at the same time.
However, we have to recognize that a large portion of our budget is paid by the Federal Government; some say as much as 35%, and others say even more.  If we donít want Federal control, then we have to stop taking Federal money. However a large portion of the Federal budget is borrowed.  If so much is borrowed so they can give it to us we have to see that our budget is not really balanced.
Where would we cut if we stopped taking Federal money and had to cut our budget by 35%?  For instance could education survive a cut of 35%?
Education was much different 100 years ago without Federal support.  Still, our children learned, and in many respects they learned far better than they do today.
Can we take a look at our balanced budget and see where serious cuts can be made?
Thanks,
Jim Hollingsworth
Hayden, Idaho

Redneck Review!
No. 122 - 8/21/2017
A change of pace, and some things to think about! And the question you might ask yourself at the end of this article, "what do I think about today's news and the following material?"
But a word of warning!  Most people who read comments like those below, will laugh a bit and think they are the musings of a demented person!  But be careful!  Before the market crashed on "Black Friday" at the end of the "Roaring Twenties,"  most investors believed that the wealth and good times of the '20's would go on endlessly. Don't believe it? Research and study what history has to say about the period!  Primitive movies taken at the time record in graphic detail, bankrupt wealthy men taking suicide leaps out of upper story windows!
And another thing!  Adequate research is convincing that a big factor of the '20's investment success was low interest rates allowing anyone to borrow money at near zero rates, then pour it into market stocks which just kept going up and up for nearly a decade!  Well!   Do we not have near zero interest rates today on savings and loans for investment or for other purposes?
So some things to think about, all taken from a recent newsletter called the MARKET UPDATE, published by Investment Rarities. Quotes which follow do not necessarily represent the views of that company. And please note!  Each quotation is in turn taken with permission from recognized economists and investment advisors.  Do I believe or endorse any of them?  Hmmm!!?
Tom Price, Economist:  "There are a number of things you don't want to hear a central banker say. One of these things just popped out of Janet Yellen's mouth - 'I don't believe we will see another financial crisis in our lifetime.'   That has to be up there with Irving Fisher's observation
from Oct. 17, 1929, that  'Stock prices have reached what looks like a permanently high plateau, 'or John Maynard Keynes' comparably adept forecast from 1927 that 'We will not have any more crashes in our time.' "
Michael Snyder: "Global central banks now have more than 20 trillion dollars in assets on their balance sheets and the world is more that 217 trillion in debt.  The desperate measures that national governments and central banks have been taking have delayed the coming crisis, but they have also guaranteed that it will be far worse than it could have otherwise been. The stage is set for the worst financial crisis in world history, and the only way that it can continue to be delayed is for our leaders to continue to inflate the bubbles larger and larger.  But of course, no bubble can last forever, and the bigger they become the harder they burst."
Mark Yusko, Asset Manager:  "I'm telling you right now, the U.S. is going to have a crash and it will be massive." Finally, a couple of additional comments for your consideration!
Lawrence M. Vance: "It must be recognized that welfare programs are destructive.  Socialistic, they foster dependency on government, they shift responsibility from the individual to society and the state, and contribute to class welfare... It should be recognized that all charity can and should be voluntary.  Otherwise, it is not charity, but theft."
Zero Hedge: "After passing a $15 minimum wage intended to help low-income workers in Seattle, economists at the U. of Washington produced a rather extensive research report highlighting how the legislation was actually doing the exact opposite. Companies were simply choosing to auto-mate menial tasks, moving businesses out of Seattle...or simply cutting back on employees."
(Seattle wage hikes: crushing the poor: 6700 jobs lost, annual wages down $1500 - U.of W. study)
Jake Wren


Cottonwood, Idaho 83522
 

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