I do not always agree with the Editor/Publisher of the Union, but this morning you should take a peek at his weekly colum : We brought this economic mess upon ourselves
How did it all come down to … this? How did our credit rating drop too low to qualify for a used car loan?
Let's start with the rules and regulations. Federal, state and local governments have regulated most U.S. companies to death, driving up the cost of production to the point where it is far cheaper to make things in China, where companies are not bound by the same environmental and labor laws.
We don't seem to have a problem with the pollution, or slave labor, so long as it happens outside our borders.
And unions haven't helped themselves much, often bleeding the companies to the point where they can't compete in a global marketplace. We need look no further than the U.S. auto industry to see evidence of that.
We also love our gold, silver and oil, so long as it comes from mines and rigs sitting outside our borders. We're sitting on maybe 2 million ounces of gold right here in the Gold Country — at $1,600 per ounce — but can't get it. Never mind that this community was built on the backs of miners.
America could drill, mine and grow out way out of this economic mess, but we refused to help ourselves.