One of the Clinton/Gore campaign slogans in the 1992 presidential campaign was "It's the economy stupid". This catchphrase significantly contributed to the Clinton/Gore victory. President-Elect Obama is currently talking about stimulus packages to get us out of our current economic woes. He should also be talking about the U.S. savings rate. Taking a page from his Democratic predecessors, his motto should be: "It's the savings rate, stupid".
We proclaim that we are the only remaining Superpower. Just how Super are we? The United States is totally dependent upon foreign oil and foreign investment. Everyone is aware that we are importing millions of barrels of oil daily, and I believe coming to understand that it is a threat to national security. Yet, nobody is willing to address our core economic problem of daily importation of billions of dollars from foreigners to finance our consumption and superpower status. We are not only the biggest importer of oil but the largest debtor nation. The U.S. used to export oil and be the largest creditor nation. How did we let this happen?
The United States Government policies promoting consumption, borrowing, and speculation on stocks, housing, commodities, and credit instruments are to blame. These policies should be replaced with policies stimulating savings and long term investment that creates sustainable long term income. Changing these policies is the key to providing the capital necessary for investing in new technologies, building new and modernizing old U.S. manufacturing plants, rebuilding infrastructure, education, and and last but certainly not least, reducing debt. If President-Elect Obama is truly going to become the Messiah that some are prophesying, he has to have the courage to make the American people understand that they need to save more. He needs to get Congress to act and change our policies to encourage and reward personal savings.
It took an attack on Pearl Harbor to wake the nation up and get our national resources focused on defeating the evil powers threatening the world in the last century. With proper leadership, the American people can be educated and see that the current economic situation is an economic Pearl Harbor. The Germans and Japanese were developing atomic weapons and would have undoubtedly used them on us if we had not entered World War II when we did. The American people need to realize we need to win the economic war now. If we don't, the United States could see an economic Armageddon that will make this year's economic woes look like a minor skirmish.
Source: Dwight Kellams, CPA/PFS,CFP
Back when I was a child, vinyl records were the vehicle used by diehard music lovers to listen to their favorite songs. Eight tracks were going out of style really quickly and the newest trend was the cassette tape. Even with the passing of the eight tracks and the emergence of the cassette tape, many music lovers stuck to the traditional vinyl records for their listening pleasure.
We have come a long way since the hay day of vinyl records. Compact discs are all the rage today with good reason. The sound quality is truly pure and you almost feel as if you are in a sound-proof room when you focus your listening skills on the CD player. The clean sounds are a major improvement from the vinyl records that crackled as they played.
Nevertheless, it is that crackling sound that is only offered by the vinyl records that I find so appealing. There is something regarding that sound that is so neat to listen to especially when I'm in a nostalgic mood. Maybe it is because the crackling sound is tied so closely to the songs I loved when I was a child. I just can't seem to separate the two.
I noticed my love for the unique antique sounds of the crackling vinyl records accidentally. A dear friend of mine offered free disc jockey services for my wedding. Of course I did not refuse the kind wedding gift. There was a catch. My friend plays vinyl records, nothing else.
This was not really a problem for me. I wanted to skip all of the trendy pop-chart music of today and focus on older dance music and classic songs available on vinyl records. My friend started playing dinner songs at the reception. He chose classic Irish music for the wedding meal.
The entire reception hall fell silent during the prayer. Once the prayer ended, the DJ placed the needle on the record and the quiet room filled with soft crackling sounds followed by lovely Irish music. The transition was superb and the memory of the moment the crackling sounds overtook the reception hall still gives me chills. You simply could not replicate that with a compact disc.
Technologically, we have come a long way when it comes to music. However, we should not completely let go of the little gems from our past. The haunting sounds of the crackling vinyl records help us truly touch the past even if for just a moment.
Both Karen Bolton & Mitchell Hampson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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