Bill Peterson

Olympus High School

Class of 1955

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Bill Peterson - Class of 1955 - Olympus High School

First Name	Bill
Last Name	Peterson
Graduation Year	Class of 1955
Gender	Male
Hometown	Logan, Utah
Relationship Status	Divorced
About Me	William “Bill” D. Peterson II, 2012 Democratic candidate for U.S. Senator from the State of Utah: I am a Professional Engineer. My work includes a 300-year permanent disposal solution for spent nuclear fuel. I am pushing a 3-year plan for U.S. independence from foreign oil and balanced trade. The plan includes 50 new nuclear power plants in 3-year, increasing to 500 new plants in 10 years. The 3-year plan would have the U.S. off foreign oil and in its place using 50% domestic oil, 40% natural gas, and 10% hydrogen separated from water with nuclear power. I have a M.S. degree in Operations Research Analysis. 24 years ago I modeled the macro-economy of the United States and concluded that the U.S. deficit is an unavoidable consequence of the nation’s imbalance of international trade. The Global Economy is essential for world wide employment opportunity but without rules and controls there will be economic wars between nations that can have them conquering each other. By the doings of some of our nation’s leaders, since WWII, the U.S. has been under economic attack. In Roman times, what “coin” could have Rome used to buy the necessities that Rome was importing. Today we have made the same dilemma. In the ‘Global Market’ what is now happening is that groups of other nations are competing for various U.S. markets and lesser markets of other countries that have been trying to follow the American (U.S., Canada, and Mexico) example. Japan, Korea, and Germany are competing for the American car market. 91+ nations are competing for the American oil market. China is leading all other nations competing world wide for the clothing and home-wares American market. The nations of the Pacific Rim are competing for the electronic and computer market[s]. So what is the market[s] for American workers? Very little, only the service sector market is left. But a service economy cannot sustain itself. The U.S. is being victimized. Other nations can simply devalue their “coin” and there is no way that the U.S. can compete. The U.S cannot continue to enlarge its deficit to pay for the increasing imbalance of trade. What will happen when everyone realizes that this is impossible economics? Something is going to burst this bubble, and when that happens, there is going a big crash. We could wind up no longer owning our own country. The U.S. deficit is now as big as its annual gross national product (GNP). The U.S. deficit is growing at a rate comparable to all the combined taxes paid into the Federal Government, or its total operating cost. Will there be a meeting and the rest of the world will simply divide up the United States, UK, Italy, Germany, and others trying to live in the Global Economy? Or can we somehow work ourselves out of this situation that should have never happened, in the first place. The U.S. must take the lead “again” and set some rules, and be an example for how to work our way back into solvency. Living the underside of zero for a while is my proposal. We need to do this quickly and voluntarily, before we are forced into it. We are going to have to eat a lot of crow. And we need to get to doing this before we are put on bread and water. It is not totally our fault. Other countries have been selling in our country knowing that we do not have money to pay to this commerce, behind our backs; they have been looking for ways to cash out with us by taking our prime, basic, and best recourses, which we should not be parting with. In 1988 I founded the Deficit Recovery Institute to teach and promote my DRI Rules. Our imbalance of trade is putting ourselves in an ever bigger deficit situation that will destroy our nation. Just as Rome fell, so will us, if we don’t have some controls. In the 24 years that I have been working on this I have come up with rules that I call Deficit Recovery Institute (DRI) Rules, i.e. DRI Rules. Some of them are as follows. Some of the DRI rules: 1. An entity must produce as much as it consumes to endure and thrive. This rule applies to all entities including: individuals, families, neighborhoods, towns, sates, and nations. If this were not so, there would be no ghost towns or vacant cities like Detroit. 2. A service economy (entity) cannot sustain itself. A mayor without a town will go hungry. 3. Entities must be defined and confined. California and Texas without a closed border would be like an overpopulated Mexico without government. 4. An individual, household, business, city, state, and nation are entities. 5. Goods, services, and coin may be exchanged between entities; but, 6. Negative exchange of coin will result in deficit, so, 7. Deficit is a consequence of imbalance of trade between entities, and so, 8. A negative imbalance of trade money is deficit. 9. Positive exchange of goods and services retires deficit. 10. An entity that cannot sufficiently produce as much as it consumes requires charity, a current day example is Greece. 11. Every nation must keep its debt to itself. What will be the terms for the U.S. to repay China? This debt should not have happened. 12. An independent nation can operate in dept, i.e. on the underside of zero, i.e. operate on fiat money. A nation’s fiat money should stay within its economy and not contaminate the rest of the world. Fiat money outside of its economy should be used only for purchases back in its source economy. Otherwise, there will be excessive money. 13. Nations will be the security for all debt of all entities in their dominion. It was right and good of the rest of our nation to pitch in to put New Orleans back together after Katrina. 14. Strategic industries must have government secured ownership to prevent the strategic asset from being taken away, i.e. keep the strategic in the principal entity, i.e., the government must have some control over the ownership of strategic entities. Today the U.S. cannot produce enough oil for itself. Strategic manufacturing must be kept from being taken abroad, military weaponry, tanks, Chrysler, Volvo-Ford, for example. 15. Our imbalance of trade is now taking our coin from our economy at a rate of about $6 billion per day, half of that for our importing of oil. $6 Billion per day is about our federal government’s revenue income rate and cost of operating. The U.S. commerce operates on around $90 billion in float in the U.S. economy. So our government has to infuse around $6 billion per day of “fiat” money to keep the U.S. economy liquid. So there is two ways of looking at the U.S. economy. The imbalance of trade has the U.S. public commerce in an imbalance of trade rate of $6 billion per day, that has to be continually replaced with borrowed “fiat” money; or, our government’s tax on the economy rate is about $6 billion per day has to be returned to the public sector to replenish its imbalance of trade, so our government has to print $6 billion per day of “fiat” money to pay its expenses of operating. The only way our economy can continue to operate is to get international trade into balance. Once we get that done, then U.S. will have to come up with ways of repaying what has been borrowed. America must bring its industry with its manufacturing back into the U.S. This is going to upset operations of every country America imports from. They will have to provide more for themselves, likely upgrade their standard of living. And the U.S. can provide some things to other countries that they don’t normally have or provide for themselves. Things that are uniquely ours are our military, nuclear power, medical advances, aircraft industry, many electronic devices, particularly computers and communication items. The U.S. has a unique entertainment industry that the whole world buys and enjoys. The U. S. must retain rights to their developments in these areas indefinitely if this is to be an ongoing barter system, with a world wide working economy. It will not work if other nations continue to dismantle and take U.S. technology and industries item by item. It is just not plausible. U.S. schools of higher educations rightly try to teach everyone coming to our schools to be able to execute in the best known technologies. With all of this, still there has to be defined borders, and across these borders trade must balance to keep countries from economically conquering each other. Co-existence at every level is not just a matter of happenstance. There must be rules. From our Deficit Recovery Institute findings, it seams that at every level the rules might be about the same. I propose that from my start, my rules be considered from various aspects of higher education, and some kind of consensus reached, and applied, to try to make world compatibility happen. I propose we start with 1000 university level studies, 20 studies each in 50 colleges of economics, engineering, and law. Then from them, do 100 research study and development projects in more depth, and see if Deficit Recovery rules might evolve that make the world work with in friendship and compatibility. Then hopefully every individual might have a better possible life with purpose and respect, and all nations might operate in harmony, and people can live in security. Will...(read more)