Get ready. The people who have ignored President Trump’s tweets about “covfefe,” “hamberders” and “smocking” and likely haven’t noticed his inability to pronounce “origins” or “anonymous,” or his confusion over “heal” or “heel” and “there” or “their,” and that he thinks we have a “Marine Core” and his wife’s name is “Melanie,” never mind his belief that windmills cause cancer and IDs are required to buy a box of cereal, are about to warn us that former Vice President Joe Biden makes a lot of gaffes.
Support small businesses
I do hope the Trump administration will stop worrying about the stock market and start concentrating on helping our small businesses.
The fear of the coronavirus is causing people to hunker down, thus affecting their frequenting local restaurants, pizza parlors, coffee shops and other service-related small businesses. They do not have the resources to withstand a financial crisis that a big franchise might. Tax breaks, low-interest loans, subsidies and other federal government aid should be readily available.
If there is no imminent threat of the coronavirus in their local areas, I urge your readers to support their local businesses now in full force. They need us to be able to withstand the possible crisis they may face.
Our country prides itself on the ingenuity of our small businesses. The small business communities love their patrons. Show them back this love.
I can only harbor modest hope, not prayers, that we as a nation can at least face any coronavirus threats with the best rational, scientific leadership available in the 21st century. This is certainly not the time for irrationality from the top down in Washington, D.C.
Trump’s great economy
I have read a lot lately about how well the economy is doing. Is it really?
Interest rates are incredibly low. If the economy were really healthy, interest rates would be higher and seniors would have more savings. Rates are being held artificially low by the Fed under pressure from the White House. This encourages people to borrow and spend money now, rather than saving. Consumer debt is over $14 trillion.
The stock market is unsustainably high for two main reasons. One is the low interest rates. This encourages investors to purchase risky stocks rather than safer investments. The second is due to the GOP-Trump-McConnell corporate tax cuts financed by borrowed money. This encourages company executives to buy back massive amounts of their stock to drive up its price and their stock bonuses.
Government debt is increasing too fast for a truly healthy economy. It is actually fueling the economy to make it look better in the short run. The latest U.S. Treasury forecast states that U.S. debt will increase by $13 trillion over the next 10 years. This is spending our grandchildren’s money to make Americans believe the current economy is better than it really is. This is also destroying our children’s economic future.
Supporters of the GOP-Trump-McConnell partnership believe that we can borrow and spend our way into prosperity. It did not work in 1928-29, and will not work now. Like then, a lapse in confidence can cause major economic problems.
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