Destruction.

Editor,

Debt in itself is not a bad thing.

But debt to bail out Wall Street gamblers, wage unnecessary and unconscionable wars, subsidize the most profitable corporations in the history of the world, and exempt billionaires from paying taxes is killing the U.S.A.

Increasing the money supply during a massive downturn in the economy is not a bad thing either.

But using that money to buy debt, keep interest rates at zero, and thus stimulate a bubble in stocks and other speculative investments amounts to just another scheme to transfer wealth from the hands of working Americans into bandits' pockets.

Keynes did not have "monetary stimulus" (a deluge of cheap money) in mind when he argued for fiscal stimulus (government spending) to jump-start a depressed economy. And WWII, with the enormous debt and massive government outlays it triggered, proves that Keynes was right. As does the decrease of debt as a percentage of GDP during the postwar years when the U.S. economy dominated the world.

The American political system is a crazed, suicidal, incomprehensibly self-destructive looney bin. Rich people's money buys rules to make rich people richer, and every step along that path sows environmental, societal, economic, and further political destruction.

Re: "State-Wrecked: The Corruption of Capitalism in America" (3/31/2013)