Economic News Was Bad Enough, Now America Is Being Sold to Foreigners

Having read Douglas Frantz’s article (“Japanese Pour $8.96 Billion Into U.S. Real Estate,” Business Section, Oct. 10), several thoughts came to mind.

It’s not enough that the national debt is higher than it has ever been, that the worth of the dollar is alarmingly low, that the Japanese control many of the major American banks and that the auto, motorcycle, audio and video markets are flooded with goods from Japan, but to wake up and be reminded that large portions of America are being sold to the Japanese is enough to make one gag.

The economy of this country is worse than it’s been since the Depression. While the major industries are faltering and/or failing, while the number of homeless is shameful, while the recent taxation overhaul caused us all to tighten our belts even more, we read about Mr. Reagan’s defense plans, Star Wars, contra deals, etc. And now foreigners are buying our country.

The Japanese are bright, hard-working and dedicated people who are to be respected and admired . . . but American soil and property should remain just that.

There ought to be a law!

RICHARD S. PAVELEC

San Diego