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Economic disbelief

October 07, 2008

Re "Approval of bailout comes amid signs that a steep recession is just beginning," Oct. 4

We have just witnessed a microcosm of our congressional process, a vulgar indictment that illustrates how we have turned into the world's greatest debtor nation while decimating the quality of life of the middle and lower classes in the process. For the first time, I've felt helpless and hopeless. Also for the first time, I've wondered if I would be better off moving to another country.

I thought a nice depression would be an excellent way to purge our greed and addiction to debt and get us back on track. It worked in the 1930s -- and we had a pretty healthy middle class until the early 1970s. I suppose a depression is still possible but will just cost taxpayers more, given that our government is unwilling to let excesses dissipate through natural processes.

I hope my mood is temporary, and I look forward to perking up soon. All of this has given me pause, and I'm not sure what is coming next.

Rich Locasso

Huntington Beach

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So Rep. Lee Terry (R-Neb.) is quoted as blaming "those greedy pigs on Wall Street" for the $700-billion bailout package.

Not so fast, Mr. Terry! What about those sleeping and slothful pigs in the House and Senate?

Richard Hinkle

El Segundo

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Re "$700 billion doesn't go far in bad times," Oct. 5

Failed banks have been bailed out. Other segments of the economy are told to compete or perish.

The U.S. was once the greatest manufacturing nation in the world. We no longer make our toys, brake shoes, disk drives, memory chips, flat-screen TVs, patio furniture, beds, tables, lights, light switches or far too many other items. To rebuild the economy, rebuild the manufacturing base.

M.J. King

Big Bear City

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