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Show Sun Advocate 12 Thursday, October E9, 1SB7 America's autumn of uncertainty BUT, HE SOME PROGRESS ON THE TRADE DEFICIT, A UTTLE SURE, THE DOW'S BIS PLUNGE SCARED ME. COOPERATION FROM THE EUROPEANS, THE AND A BIT OF LEADERSHIP FROM PRESIDENT AND CONGRESS ARE ALL THE MARKET NEEDS. Perhaps its the autumn season, perhaps its the winds of trade war blowing in Congress, perhaps its the threat of higher inflation. Together, signs large and small spread uncertainty like the acrid smoke of burning leaves in the air. Americans are besieged with economic data. But what, for example, does the stock market tell us about the economy? The Dow Jones average of industrial stocks is higher this season than any previous fall in history. declines experienced recently also But sharp one-da- y are the largest numerical declines in history. The markets are demoralized and in disarray, Hugh Johnson, of First Albany Corp., said last The trade figure suggested that the Wednesday. dollar will decline further, that inflation will rise and that protectionist sentiment will be revived. It completely shook the confidence of the credit SELL EVERYTHING. markets. few lonely doomsayers predict a crash and a depression. A larger number of observers believe the market is correcting itself and will move forward to new heights. What is disturbing is the volatility of the fluctuations. They are amplified by computerized selling. Its good news that foreigners are investing in our stock market. But its bad news that the U.S. government is falling deeply in debt to foreign nations and individuals. During the Reagan years, Americans have had more money to consume. But we have spent that money increasingly on products made abroad. We have not saved our money. By spending, rather than saving, we have squandered our resources. We are not investing enough money in private industry in America. We also are not investing enough in our public roads, bridges, ports the infrastructure of our economy. Nor are we spending enough on education, health and productivity for the future generation; 10 times more money goes to old people Sian to the young. The unstated Democratic principle of tax and spend has been replaced by the Reagan era reality of spend and borrow. Taxation may be a direct burden on business. But debt is an indirect burden. The present era may look like a time of bounty to us now. But our children, who will have to pay our debts, may one day look back on it as a time when their parents sentenced them to the bondage of debt, while letting Americas productive capacity decline. If current trends continue, Americas. net foreign debt will surpass $1 trillion. To repay it, Americas debt burden would be on a par with Germanys reparations burden following the First World War, writes Peter G. Peterson in a gloomy article in The Atlantic magazine. The reparations dictated by the Treaty of Versailles beggared the German economy and plunged it into inflation, from which Germans followed Adolf Hitler into a war of revenge. Yet, unlike the Germans who had those punitive reparations forced on them, Americans are taking that debt burden voluntarily, if blindly. America is not doomed, of course. We are a free country with a system that responds, to economic threats. We got ourshifting rapidly, selves into this not unenviable situation of high employment, high profits and low taxes and low inflation by borrowing to the hilt, consuming like mad and avoiding the hard choices. But can we maintain the illusion of prosperity without a fall? In autumn, Americans gather the harvest, rake up the leaves and contemplate the winter. In this autumn of the economic uncertainty, it is good to save, to pay debts, to face the chill of a harder time ahead. A free-enterpri- se Snoops in ed D-Il- mean-spirite- Bits and pieces l., how they do it. Well, the mission needed some coal By CHUCK ZEHNDER Managing editor If Bambi was alive today hed be against gun control. Thats just one of many patrons can order to let the bad guys know how you really feel. The ad also says of the Freeze a liberals blood! slogans The ad appears in a magazine available at local news stands. Along the lines of gun control, I noticed in the Salt Lake Tribune on Tuesday there were 20 obituaries and six of them were for people who had died in motor vehicle or accidents. I could not find six gunshot killings reported in the same issue. That leads to the logical question Where are the car control nuts? Or is it true that cars dont kill people, people do? irt auto-pedestria- n -C- W- Some people are really wonderful and they live in Carbon County. The Union Gospel Mission in Helper helps people who are truly down and out. They do it with very little funds and most of the staff there are not paid. I have often wondered By the way, the mission still needs another five tons of coal and transportation. Call or me and Ill help set it up. them at for the winter to heat their building. And they needed transportation to get the coal from a mine to the Main Street building. I found out that a local mine was going to donate five tons of coal and another company volunteered to haul the coal to the mission right away. So I called each of them. In those totally independent calls, both companies said they didnt want any publicity on their giving. They 'didnt want their pictures in the paper and they didnt want a write-u- p on their charity. What a switch! Most people are mad when they dont get publicity for something nice they do. People who have done apparent acts of kindness and caring suddenly turn mean when they dont get the publicity they think they deserve. A very famous person once said, Beware of practicing your righteousness before men to be noticed by them... When you give alms do not sound a trumpet before you as the hypocrites do... that they may be honored by men. Thanks to the two benefactors of the people who truly need help at the Union Gospel Mission. By your beautiful request, you shall remain anonymous benefactors. 472-55- -C- W- Im going to win that Caddy this Friday my minds made up. The local car dealers are giving away a Caddy and a Buick at a downtown car sale Friday and Saturday. All of the local dealers got together and are bringing over 200 cars downtown to sell them at their lowest prices. Both new and used cars will be sold and Zions bank will be there to handle the financing right on the street. That sure is a different idea and Im kind of anxious to see how it works. But on Friday there will be a drawing for the Caddy and on Saturday they will give away the Buick. Look in the paper today for all the details in their ad for the AUTO SALES SPECTACULAR. v Other prizes will be given away every hour and winners need to be present to win. Also there will be free soft drinks and candy for kids in costumes. -C- W- The biggest job ahead for Congress is how to get money from taxpayers without disturbing the voters. mike royko the soup Someone in the Social Security Administration found out the hard way that America isnt about to let the grinch steal Christmas from a poverty-stricke- n blind man. That someone we dont know who, since no one is exactly jumping up to take credit wrote a new rule designed to save a few dollars at the expense of some of the poorest and most vulnerable people in the country. As of Oct. 1, it decreed, the 4.3 million elderly, blind and disabled people in the Supplemental Security Income program would have to report their soup kitchen meals and the used clothes or a night at an emergency shelter theyd been given. Any charity received in excess of $20 a month would have been deducted dollar for dollar. Considering the maximum SSI benefit is $340 a month for individuals and $510 for a couple, the deductions would have been painful indeed. Once exposed to publicity recently, the rule died a death. And it sparked a sudden, political furor among charitable groups and on said of it, Capitol Hill, where Sen. Paul Simon, As the hand of private charity gives, the hand of an insensitive government takes away. Health and Human Sendees Secretary Otis Bowen, who rescinded the order, said it was all a mistake. Perhaps. But this administration has a history of stinginess toward the people who are least able to defend themselves. The outcry that killed this short-live- d charity order is a sign, perhaps, that the public does not support d polices that take bread from the mouths of the blind and the mentally and physically disabled. We need a federal government that cares. well-deserv- chucks waggin Even darkest day has a bright side As the Dow nervously Jones plunged, I pondered the possibility of another Great Depression and wondered what I should do to survive. So I called my wife and said: Buy coal. Why should I buy coal? Because when I was a kid during the Depression, if you had coal in the basement for the furnace, you were all right. But we have a gas furnace. Buy some coal anyway in case they turn off the gas. The utilities are heartless. And buy potatoes. Why? Because I remember that we ate a lot of potato pancakes. Cheap, and they stick to your ribs. And remember to switch off the lights. But after we spoke, I turned on the TV and heard a financial expert say the stock plunge might merely be a long overdue adjustment, and there is no reason to climb out on a window ledge. Even more important, he said that this could be the time to take advantage of some shrewd buying opportunities. Not wanting to miss any shrewd opportunities, I immediately headed for LaSalle Street, the heart of Chicagos financial district. I saw a young man stumbling along, holding his hands to his face and well-dress- ed moaning. Excuse me, I said, but can I ask you a personal question? What is it? he cried. Make it quick, Im heading for the nearest bridge." Are you a yuppie? Yes, lama devout yuppie. And you wouldnt happen to also be an MBA, would you? To my lasting regret, yes. , And are you a broker or a trader? Yes, yes, but why are you asking me these questions. I just wondered what kind of watch youre wearing. A Rolex, of course. What kind of yuppie MBA broker-traddo you take me for? Would you care to sell it? Would I? he cried, yanking it off and thrusting it at me. I stuffed a few greenbacks in his hand and said: Is that a Burberry trench coat youre er wearing? Yes, brand new, he said, tearing it off . You want it? Deal. And I cant help but notice a Mont Blanc pen in your pocket. Would you... Name your price and youve got it. Ive already used it to write a farewell note to my sweetheart, an assistant aerobics instructor. Thank you. And what about that Hermes scarf and the Porsche designer sunglasses, hmmmm? As you can see, the scarf is so Ill knock newly off 10 percent. Make it 20. Now, let me ask what kind of wheels you have? He fell back against a wall as if stricken. And he You mean my... began weeping. Is it a BMW? Of course. Hand washed every second day since Ive owned it. Oh, my Bavarian beauty. I know how you must feel. But at a time like this, you really should consider divesting yourself of this asset. It is a drain on your cash flow. He took the car keys from his pocket and said: It has a list price of... tear-staine- d, ' I shook my head. You dont understand. Now that the Dow has hit 1,700, the market is glutted with them. I stuffed a few more bills into his hand and took the keys. Anything else? I said. Well, theres my Olin skiis, my Lotus Elan bike, and my espresso machine. Where are they? At my condo. Ah, you have a condo. Lakef ront, I assume ? , Are there condos elsewhere? Im sure we can agree on a reasonable price, including the furnishings. Deal? I have little choice. Fine. Have we missed anything? Well, yes, there is my.. .my.. .no, I cant bring myself to part with it. Be realistic. What is it? I cant, its more precious to me than anything No, else. What is multimedia Kangaroo it, your center? home Your bag and allclubs? Your Prince graphite racket? You cant take them golf (Continued on Page 13) t |