Carroll County Times
Carroll County Times Opinion

Culleton: Borrowing our way to runaway inflation

On the cover of Life magazine many decades ago was a photograph showing the effects of runaway inflation in China in that period. A plump wife of a rice merchant sat on a porch surrounded with bags of rice. In the foreground, a small boy, a starving street orphan, sat hording his pile of valueless paper currency. In the same era, inflation in Germany was so severe that people used 100 Mark notes to repair wall paper. They were quite actually not worth the paper they were printed on.

Today in our country, those relying on IRA funds are encouraged to invest in gold and silver coins and bars. The national debt is increasing every year. We spend more on defense than the next seven nations combined. The proposed Republican tax bill will probably increase the annual deficit and hence the debt. We are borrowing our way into runaway inflation.


Those of us depending on fixed incomes from Social Security and/or retirement pensions face poverty when inflation gets out of control. Next year, my Social Security check will increase by just 2 percent. My pension will probably increase by the same amount, if at all. My children, building up their 401k accounts for their retirement will see their savings’ true value halved.

Inflation continues.


How bad is inflation? Well, in 1947 my father bought a top-of-the line Chevrolet Fleetline for $1,850. New cars were in short supply. Nothing else was available

In 2011, I bought an unpopular Chevrolet Impala for 10 times that price. And that was with a veteran’s discount.

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At least one Republican senator has stated that he will not vote for any tax bill that increases the deficit by a penny. He needs two more Republicans and all the Democratic senators to stave off this disaster in the making.

Meanwhile our blunderer-in-chief continues to campaign for victory in the 2016 election, which he has already won. But many of his former campaign staff are getting indicted one by one by the Robert Mueller investigation. Can you spell Papadopoulos?

If he attempts to cover up the misdeeds by firing Mueller, that becomes grounds for impeachment.

He has also called for the Congress to investigate the Clinton Foundation. Indeed the Clinton Foundation, like many nonprofit organizations overcompensates its executives. But until the law is changed this practice will continue. After tangling with Hillary Clinton in the Benghazi hearings where they never laid a glove on her, I doubt that the Republicans in Congress want to tangle with her again.

Trump also stated that he is considering sending the alleged New York terrorist to Guantanamo. Chances are the alleged terrorist will be convicted anyhow, but his defense will argue that he can’t get a fair trial because the president of the United States has poisoned the jury pool.

Next time we elect a president, please don’t vote for a charming but incompetent and egotistic amateur. This one wants to insult his way into a nuclear war. I did a tour in Korea and those guys don’t back down when challenged.