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How wealth is generated

DEAR EDITOR:

There are only three ways to create wealth, and printing more paper dollars that are not backed by gold, silver or anything else is not among them.

Wealth is created by labor or value-added work, by growing crops or other valuable products, and finally, by mining minerals from the ground such as precious metals, oil, natural gas, etc.

Many so-called experts believe America’s present glut of oil and natural gas due to fracking technology could be what saves America from total collapse due to our overwhelming debt, which now stands at an incomprehensible $27 trillion. Of course, there’s a good chance Democrats will stop all fracking as part of The Green New Deal if they gain control the White House, the Senate and hold on to the House of Representatives.

Electricity costs have not dropped like natural gas and gasoline because the federal government has interfered. They have eliminated coal-fired and many nuclear power plants. It is possible to scrub or clean the by-products of combustion from burning coal, although at the present time, it is expensive.

Electric energy costs have stabilized because we are now producing electricity by burning natural gas, which is plentiful and cheap due to the fracking the Democrats say they will stop. That would cause prices to rise steeply.

It seems to me that almost everything the Democratic party wants to do is bad news for the average American — the little guy like me. Unfortunately, we often don’t see this because the national media will not tell us the whole truth about the consequences of their ludicrous programs.

KEITH MCCOMBS

Mineral Ridge

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