The latest scam being brought down on us is the ethanol nonsense which has
raised food prices and will continue to do so until someone steps up and
explains that ethanol costs more to produce than fossil fuel and it pollutes
worse than gasoline. We need to begin building nuke plants again and do
so without regard to who wants what in their backyard. Next, we need to
figure out what we're going to do with the waste. (I suggest an island
in the Bering Sea). Then, we need to put some serious money into
hydrogen fuel cell development and add as much solar and wind power as is
reasonably possible. Farmers may be getting rich off ethanol
but most of us are just paying for a political game when we shop at the
grocery store. Worse, the game is destined to fail and fail at our
expense. Surprise!
Bob
At 06:57 PM 2/24/2008, you
wrote:
Here are some
interesting facts from today's paper. With the mortgage default rate
rising there are more and more people living off of their credit
cards. I can imagine, I just paid $4.85 for a loaf of bread that was
less than $2,00 a year ago.
Total
credit card debt in the U.S. is $943 billion
The number of credit cards
is 1.2 billion
The number of credit cards per person is 7
The Average
debt per household is $9,840
The annual debt service cost per household
is $1500
Only 7% or the households have no credit cards
Only 32% pay
their bill monthly
8% of the card holders owe more than $25,000
The
U.S; Savings rate is 0.5%
Not a really good
picture for a consumer driven economy.
Ira
www.delta100.com