It's still the economy - stupid!

I believe a majority of thinking citizens, all across these fruited plains, now worry more about the tanking economy than they do about Islamic terrorism, Afghanistan, Iran, North Korea, nuclear proliferation and/or global warming.

Small wonder because our national economy continues its downward spiral while politicians, along with the president's inexperienced buddies from academia, continue to run around in circles, spouting the same intentionally misleading political propaganda while recklessly scattering essentially worthless dollars in all the wrong places.

If you have been a regular reader of these columns, you know that I have long been pointing out the government's efforts to stem the economic hemorrhaging are dangerously misdirected. I have also tried to explain, in terms as simple and straightforward as may be possible when discussing such an imprecise yet also complex subject, why our economy is tanking and what must be done to stop the slide to ruin.

But apparently, my warnings are ignored or not understood; so here we go, one more time. Basically, we must produce goods (not services) which are not only consumed here at home but are purchased by other nations, and in amounts that equal or exceed what we buy from them. We cannot avoid international trade, nor can we charge more for our goods than the existing world prices.

That, most significantly, implies a general reduction of wages and benefits paid to most U.S. workers, along with a national policy to stimulate production of goods (e.g., wheat, corn, coal, steel, ships, tractors, cotton, etc.), while discouraging the services that now dominate our teetering economy (e.g., managers, lawyers, advisers, consultants, accountants, beauticians, etc.). That's the unpleasant truth, which is so repugnant that I have little hope for its recognition and acceptance by this nation. We are, therefore, apparently destined for economic collapse and catastrophe.

It has long been established by thoughtful and knowledgeable economists the base of a solid and stable economic pyramid must be made up of the production of goods. Only a small part toward the peak (about 30 percent) can be composed of services. Our pyramid is upside down (70 percent services), and thus is inherently and dangerously unstable; that is why it is teetering dangerously today. A couple of generations ago, we were the "arsenal of democracy." We exported steel, trucks, wheat, cotton, beef, radios, pork, oil, copper, coal, trains, corn, shoes, ships, and probably sealing wax - today, we buy most of that from other nations. That, Obama and company, is the heart of the problem with our tanking economy.

For those that doubt my conclusions and recommendations, I refer you to very recent news reports in which the White House wants us to feel better about the critically ill economy, because the "GDP (Gross Domestic Product, which might more appropriately be called the "Gross Deceptive Product") of the U.S. is growing at an annual rate of 1.6 percent." In evaluating that proud proclamation, consider that the misleading GDP includes those unmarketable services we have already mentioned, along with the relative trickle of goods that we still sell abroad. Also take into consideration the same GDP figures show the increase was 3.7 percent in the first quarter of this year; so we are regressing, not growing, no matter how skillfully or deceptively one presents the data.

Then, and of greatest concern, while the latest figures show that our exports recently grew by 9.1 percent, our imports increased even more rapidly than in the past (now more than three times what we export). That is said to be "the largest surge in imports in 26 years." We are headed, ever more quickly, downhill to the poor house.

Yes, the economic posture of our nation is most perilous and it seems to continually be worsening. I repeat myself, but the subject deserves such emphasis: Throwing unbacked dollars in random directions (as the administration is doing) will not do anything to solve our national economic problem; it will, however, surely result in inflation and devaluation of the dollar on the world market, along with increased taxes on anyone that pays them.

We must - simply must - make a sharp and immediate turn from a work force focused on overpaid services jobs to a nation of producers of goods that are priced competitively around the globe.

We either balance imports against exports, or declare bankruptcy. That is a most "inconvenient truth," which no opportunistic "Al Gore" has seen fit to champion.

Only a conscionable, thoughtful, intelligent, central government can make that happen. Ain't gonna! Save your Confederate dollars - they soon may be worth more than Mr. Obama's script.