Election will decide which path we'll take

America was founded on the concept of freedom to ownership and wealth creation. When natural resources are collected and manufacturers add value in new products, new wealth is created. For example, when crude oil is collected, a lot of products can be produced such as fuels, plastics, fertilizers and etc.

Quality jobs are created from producing by-products of natural resources. All society benefits when new wealth is created, an expanding wealth quantity is known as economic growth.

The eastern economy is just the opposite, it mostly redistributes existing wealth. We see this happening in the Middle East by small fiefdom armies that fight over who is going to own the existing wealth. Redistribution is by force of violence. Freedom is incompatible with this system.

Much of Europe has thought it could move from the western model of wealth creation to redistribution of existing wealth by legal taxation and that without violence. As their economies moved from wealth creation to ever more redistribution, their economic conditions have continually worsened.

In this election America is deciding whether to follow Europe in redistribution or go back to traditional wealth creation for our economic growth. An economy moving to redistribution instead of new wealth creation cannot grow or expand healthily because it depends more and more on redistribution of existing wealth instead of creating new wealth.

Printing money (QE1, 2 and 3) is redistribution through inflation, not wealth creation. We must grow the economic “pie” ever larger so that there will be more pieces for each new generation.

LLOYD WALLACE

Hope