J. Lawrence "Larry" Kuka, Jr.
6601 Ramsey Road
Harrison, TN 37341
EDITORIAL
The recent sub prime foreclosure problem has
escalated into a major financial crisis. The major media
have ignored reporting on the underlying cause of the
sub prime debacle. The administration has managed
our economy by slashing taxes and allowing the Federal
Reserve to increase the money supply. This was done
because the huge federal deficit is no longer manageable,
to stimulate the economy and for political gain. By allowing
the money supply to increase, the economy is stimulated,
offsetting the loss of tax revenue; while the value of
the dollar declines, allowing the national debt to be paid
with lower cost dollars. The additional money is put into
circulation by the banks, which borrow the money from
the Federal Reserve Bank. The banks must then loan
this money out in order to make a profit. Since the credit
worthy Americans are already mortgaged to the hilt with
home mortgages, home equity loans, auto loans, bank
loans, credit cards, etc., the surplus money had to loaned
to someone. The only potential customers left were the
people with poor credit. Thus a way was opened for banks
to loan this increasing supply of cash. We can blame
the banks and mortgage lenders, however they were just
reacting to a situation created by our government.
History repeats itself. In the past, when this method of
managing the economy was used it was accompanied by
war. We are seeing the same result today.
Larry Kuka, Editor
EDITORIAL
Illegal immigration is one of the biggest factors affecting
the real estate market. Illegal immigrants live in cramped
low cost quarters, and in some areas landlords are prohibited
from renting to them. The other side of the coin is that legal
immigrants rent homes and apartments in all price ranges and
buy homes in all price ranges. Legal immigration is good
for both the housing market and the rental market. Illegal
immigration is not.
We all had hope when the American people flooded
congressional offices protesting the amnesty bill, which was
defeated. Now, congress is making another attempt to deceive
the public into thinking they are going to do something right
for a change. The Save act (HR 4088 and S 2366 and S 2368)
attempts to fine tune the existing immigration law without
requiring the president and executive branch to enforce our
existing immigration law. Unless congress acts to block
the North American Union, the Security and Prosperity
Partnership and repeal NAFTA, illegal immigration will
grow beyond today’s epidemic. We must also establish a
moratorium on the consideration of any amnesty of illegals
and stop the birthright of citizenship for children born to
illegal immigrants. Unless welfare and social services are
blocked for illegals, the costs to the taxpayers will escalate us
into disaster.
Neither the administration, nor congress has stepped up and
managed their responsibility to the American People. Please
contact your members of congress about illegal immigration.
Larry Kuka, Editor
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