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Galbraith on U.S. Economy

January 23, 1991

Galbraith hits the nail right on the head. The greedy, me-too last 10 years of our country are now coming home to roost. Reagan and his bad advisers will take their share of the excesses. History will clearly show that some of these excesses were not fiction (stated by President Reagan, when asked by reporters if he read David Stockton's book).

In my view, this country started to hit the skids during 1971-72 when we went off the gold standard during the Nixon Administration. President Nixon started this decline, helped along by Jimmy Carter and made whole and glorified by Reagan and his "all's well and beautiful in America."

Why have the media waited so long in placing the misfortunes and disasters that are in the making at his feet? Why has he not been called to task for these and other fallacies?

ELROY BARTH

Fullerton

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