Summer reading reveals many concerns

I've been doing a lot of reading lately and the following are some excerpts and comments from a few of my readings.

In a comparison with countries around the world, it's not a very comforting position to see that the U.S. ranks high in taxes with a basically stagnated GDP.

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"With all the federal government spending, Federal Reserve monetary easing resulting in a growing federal deficit and Federal Reserve Obligations, what percentage of the GDP was represented by government borrowing both fiscally and monetarily at the Federal Reserve over the last five years?

Over five years the aggregate stimulus has been $8.573 trillion. As a part of the total GDP over 5 years of $74.986 trillion, 11.4 percent of every dollar of the economy came from either federal deficits or increased Federal Reserve balance sheet obligations.

For those of us active in business what enterprise would not be wildly successful with 11.4 cents of every dollar coming over the transom with no additional efforts and no costs?

NOT MUCH TO SHOW FOR SO-CALLED STIMULUS OF $8.573 TRILLION OVER THE LAST five YEARS.

The amounts below from 9 October 2007 to recently are:

* GDP annual growth rate down from plus-3.0 percent to plus-2.5 percent

* Americans unemployed in labor force 7.1 million to 11.6 million, an increase of plus-63.4 percent

* Gasoline price up from $2.75 to $3.52 a gallon, an increase of plus-28.0 percent

* Food stamp recipients from 26.9 million to 47.7 million, an increase of plus-77.3 percent

* USA federal deficit from $0.162 trillion to $1.086 trillion, up plus-570.4 percent

* USA Treasury debt outstanding from $9.0 trillion to $16.7 trillion, up plus-85.6 percent

* Gold price from $737 per ounce to $1,470 per ounce, up plus-99.5 percent

* S&P credit rating of USA from highest quality AAA to AA+, first time USA credit downgrade

* Moody's credit rating of USA, a credit downgrade is coming soon if deficit not improved

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"Our USA does not seem to be making much progress in its foreign policy:

* Israel, shunned by the U.S. for four years, is marginalized as its very existence is at risk.

* Iraq, our previous bastion of military strength in the Middle East, is totally abandoned after costing tens of thousands of U.S. lives to death and disability and the expenditure of over $1 trillion.

* Afghanistan, ineffective results, perhaps will now become a global al-Qaida training camp.

* Pakistan, a boastful attitude regarding the bin Laden killing, is unhelpful in the long term.

* Egypt, an ally was toppled, replaced by a hostile Muslim Brotherhood regime crushing opposition.

* Syria, despite pronouncements about removal of Assad and verbal red lines, 80,000 citizens have been slaughtered; advanced Russian anti-aircraft missiles installed and probably manned by Russian troops and a flotilla of Russian warships, is in the Mediterranean off the shore of Syria.

* Iran, early citizen uprising was ignored and now nuclear weapon development accelerates daily.

* North Korea continues its threats as a young despotic tyrant fires test missiles and verbally threatens sovereign U.S. territory with both nuclear and advanced missile capability.

* Russia, presidential advances have been rebuffed and Russia becomes a more-and-more-hardened U.S. adversary.

* China, at every turn China seems to be many steps ahead of U.S. policies.

Our nation does not seem to have a coherent foreign policy.

Domestic policy errors often emerge rather quickly, but foreign policy errors display their failure more slowly often with ruinous impacts."

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The Rural Missouri Co-op's June publication gave me some perspective on Jo Ann Emerson's new job as the CEO of the National Rural Electric Cooperative Association.

From April 29 to May 1 she led a grassroots rally of 2,500 electric cooperative leaders who came to Washington, D.C., for the NRECA Legislative Conference.

NRECA is the organization that represents more than 900 electric cooperatives in 47 states that serve 42 million members.

She's only the fifth leader since the organization's founding in 1942.

Gary Rust is chairman of the board of Rust Communications, which owns the Southeast Missourian, as well as a member of the editorial board.