LETTERS TO THE EDITOR - Invest in something tangible to survive crash

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For 30 years the Western economies (America, Europe and Japan) have been fiscally irresponsible.

Even in the case of Japan, where the people are "savers," there are fiscal problems because the Japanese people saved their money via the country's government bonds. Meaning, the people lent their lifelong savings to the government that blew the money.

To make matters worse, the Western countries have been blowing money when they should have been saving money, preparing for the boomers' retirement, 75 million in the U.S. alone.

Now with Europe's economic system collapsing, Japan's debt twice its GDP, and the U.S. unemployment still high at 8 percent, not to mention having tons of debt itself, everyone has a solution.

From the people to journalists, economists, college professors, pundits, you name it, and they have a solution, if only those politicians would listen.

I'm amazed that someone out there who has a little clout doesn't come out and tell everyone that you can't be fiscally irresponsible for 30 years with an aging population of spenders verses savers, rising health-care costs, a shrinking work force and economy, and think you simply have to go to the polls and elect someone new.

And that someone is going to come to the rescue and solve the problem, just like that.

I've been telling people for years that if God had wanted me to vote, he would have put someone on the ballot worth voting for. Now I say, if we're going to solve this huge global fiscal problem in just a couple of years, with little pain, that God himself had better be on the ballot.

My point isn't a religious one, however, I am saying there is no short-term, painless solution except if you believe in miracles.

For those individuals who don't want to depend on a miracle, you had better start preparing for a collapse in the bond market.

The bond market will collapse once investors realize there's no way the U.S. government can make good on what it has borrowed and promised in benefits to Americans.

When the collapse does happen it will be over in a few months since no one is big enough to bail out America.

How can someone prepare? Own a house that's paid off, save and invest your savings in something that's tangible, that has intrinsic value, not something that's backed only by credit and more promises.

Richard Strozinsky

Walla Walla

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