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6A Daily News– Wednesday, November 21, 2012 Opinion Two acts of DAILYNEWS RED BLUFF TEHAMACOUNTY T H E V O I C E O F T E H A M A C O U N T Y S I N C E 1 8 8 5 Greg Stevens, Publisher gstevens@redbluffdailynews.com Chip Thompson, Editor editor@redbluffdailynews.com Editorial policy The Daily News opinion is expressed in the editorial. The opinions expressed in columns, letters and cartoons are those of the authors and artists. Letter policy The Daily News welcomes let- ters from its readers on timely topics of public interest. All let- ters must be signed and pro- vide the writer's home street address and home phone num- ber. Anonymous letters, open letters to others, pen names and petition-style letters will not be allowed. Letters should be typed and cannot exceed two double-spaced pages or 500 words. When several letters address the same issue, a cross section of those submit- ted will be considered for publi- cation. Letters will be edited. Letters are published at the discretion of the editor. Mission Statement We believe that a strong com- munity newspaper is essential to a strong community, creating citizens who are better informed and more involved. The Daily News will be the indispensible guide to life and living in Tehama County. We will be the premier provider of local news, information and advertising through our daily newspaper, online edition and other print and Internet vehi- cles. The Daily News will reflect and support the unique identities of Tehama County and its cities; record the history of its com- munities and their people and make a positive difference in the quality of life for the resi- dents and businesses of Tehama County. How to reach us Main office: 527-2151 Classified: 527-2151 Circulation: 527-2151 News tips: 527-2153 Sports: 527-2153 Obituaries: 527-2151 Photo: 527-2153 On the Web www.redbluffdailynews.com Fax Newsroom: 527-9251 Classified: 527-5774 Retail Adv.: 527-5774 Legal Adv.: 527-5774 Business Office: 527-3719 Address 545 Diamond Ave. Red Bluff, CA 96080, or P.O. Box 220 Red Bluff, CA 96080 Our money factory Commentary "Good morning, class," says the sixth-grade teacher. "Today, we have a special guest from the U.S. Bureau of Engraving. Mr. Bob Johnson is going to tell us how money is made. Feel free to ask questions." says Mr. Johnson. "Did you know that in Washington, D.C., and one other location in Fort Worth, Texas, the United States government operates one of the largest printing operations in the world? Every day, we print 38 million paper bills!" "Gee, Mr. Johnson, that is a lot of money," says a boy in the class. "But I thought the govern- ment makes most of the money electronically these days." "That is a very good point, young man. Way back in 1913, the U.S. government created a central bank called the Federal Reserve. Its goals are to encour- age maximum employment, keep the dollar stable and keep interest rates in check." "Good morning, students," Reserve keep creating new money and dumping it into the economy?" "Well, young man, some- times, when the economy is really bad — like it has been since 2008 — some people think it is a good idea to expand the money supply." "You mean create money out of thin air, Mr. Johnson!" "In America, the Federal "Then why does the Federal Reserve is now in its third phase of 'quantitative easing.' It is what economists call an 'unconven- tional' monetary tool that allows a central bank to stimulate the economy." son." "I don't understand, Mr. John- "Look, when the economy is bad, the Fed reduces short-term interest rates to encourage peo- ple to borrow more and stimu- late activity. The Fed has the rates set at nearly zero now, but the economy still hasn't responded. The only option left is quantitative easing." "I still don't understand." "Here's how it works. The Fed creates money that didn't exist before and uses it to buy up assets from commercial banks, such as long-term Trea- suries or mortgage-backed secu- rities. This not only pumps money into the economy, but it causes long-term interest rates to fall further. That gives investors more incentive to spend and invest." "But is it working, Mr. John- son? Over the past three years we have been doing this easing thing, economic growth has got- ten slower each year." "Look, it is all very complex. "Well, maybe it is because it's so much harder to get loans, thanks to the Dodd-Frank finan- cial reform bill. Besides, don't you mean business owners are too terrified to borrow, invest and hire? Every day, there are lots of new regula- tions they have to com- ply with. The costs of ObamaCare are caus- ing them to lay off workers or use only part-timers. The deficit and rapidly growing debt are out of control, yet Americans just voted for more spend- ing." Part of the problem is that much of the new money banks have to lend is not being loaned. That is probably because business own- ers are being selfish and refusing to borrow, invest and hire." regular Chicken Little? Things are not so bad as you make them seem. There are very smart economists in the federal government who make these decisions for you." "Really, Mr. Johnson? There are lots of other smart people who worry that all this money creation will eventually cause real inflation when all those dol- lars sitting around start getting spent. Some think we already have inflation. Have you seen the price of food and gas late- ly?" "Well, aren't you a its calculation! Look, Mr. John- son, I am only a sixth-grader, but it is awfully frightening that our country's spending is so much more than our income." are." "Such a worrier you Tom Purcell "Our government has $16 trillion in debt and the debt is grow- ing a trillion a year. How are we going to pay the interest on the debt when rates even- tually return to normal levels and our pay- ments soar?" "It will all work out really showing that President Obama's big-government poli- cies and spending are hurting the economy so bad that even near- zero interest rates and the cre- ation of billions in new money can't jump-start it? What do you say to that, Mr. Johnson?" "I say we better create even more new money!" fine, young man." "And isn't all this funny-money stuff "Now, now, young man, the Consumer Price Index shows that inflation is modest." "But the Consumer Price Index leaves food and gas out of Tom Purcell, a humor columnist for the Pittsburgh Tribune-Review, is nationally syndicated exclusively by Cagle Cartoons newspaper syndicate. Visit Tom on the Web at www.TomPurcell.com or e- mail him at Purcell@caglecartoons.com. Women's fashion show at Rolling Hills last Saturday. When I packed up my booth, a purse had fallen behind the table and I didn't see it. kindness Editor: I was a vendor at the Cattle- When I got home, a phone call from one of the staff clean- ing the room, he had found the purse and would drive up to Red Bluff and leave it some where for me, since I live quite a ways out from town. I want the world to know there are still honest people out there, and the casino can be proud of their employees. I did not get his name, unfortunately, so hope he sees this, and that the management knows who he is. me. A really big thank you from Good Samaritan. This morn- ing while driving in on Reeds Creek road, I spotted a deer with it's hind leg caught in the top wires of a pasture fence. I turned around and went back. There was no way I could free him alone, but a wonderful tall, strong guy stopped and between us we got his toe out of the twisted wire. I want to tell him thank you so much for helping me. The spike deer ran off down the road and jumped the fence. I am so grateful that he stopped. Carol Enos, Red Bluff Normally I try to stay away from topics that excite Les Wolfe (my standard being "More News, Less Wolfe"), but your editorial defending Vern Raglin's crybaby flag protest continues to miss the key objec- tion by many that he didn't use his own flag. He used a flag that was community property. That seems simple enough to under- stand. Nobody's views reflect everybody's views. Raglin abused his position. He has admitted as much, but your edi- torial continues to defend him. You say you "understand the disappointment that has swept over a majority of the communi- ty" as a result of the presidential election and note that the polls reflect "the sentiment is one shared by a good majority of county voters." So what? That local majority got what they wanted as far as state offices (LaMalfa, Logue, Nielsen). Too bad for them they are a minori- ty nationally and statewide. They can't control every check and balance and it gets their flag panties in a bunch. You also claim that "there Flag ownership Editor: was a time in this nation that thoughtful, harmless protest was admired" and cited George Harris putting a flower in a sol- dier's gun in 1967. Hilarious and specious comparison. I remember 1967 in Tehama County. There wasn't a lot of admiration for people like George Harris. If he had tried that move in Red Bluff they would have hung him upside down and back- ward from the flag pole. I find your exam- ple to be blissfully revisionist. In closing, you commend Raglin for "speaking out" and opine that we "can allow him a few hours of indulgence." He's definitely been indulged for more than a few hours on your front page and now in your edi- torial. I don't believe I would get the same defense if I had done the same thing with the same flag to protest Doug LaMalfa's election. After all, the majority of the people in my house were very disappointed that he won. Hanging a flag upside down is no less divisive than "getting ried that Raglin's angry old white man stunt will "reflect poorly on our little hamlet." Anytime Red Bluff has a stupid story go national I get years of material out of it. However, defending Raglin by citing exam- ples of other flags being flown upside down in West Virginia and Arizona is off-base, as both those protests occurred on private property using privately owned flags. They were not community flags, entrusted to a caretaker. I am certainly not wor- into a shouting match across the corners of Walnut and Main". It's all freedom of speech, it's all messy. As long as you use your own flag, more power to you. Aaron Standish, Red Bluff Your Turn certainly didn't earn any praise. Raising the Stars & Strips upside down is a signal of a direr imminent catastrophe and not to show disappoint- ment over an election. I too was deeply disappointed in the outcome but not because we reelected Obama as Commander-in-Chief but that we sent a crook to Sacramento. Unlike Obama, Jim Nielsen Editor: Mr. Raglin's defi- ant act of hoisting our flag upside down may not have deserved to be punished, but it No praise was given the opportunity to face his accusers in open court and exonerate himself. All Mr. Bird asked was some proof that Nielsen's permanent abode was located in Gerber. Instead of producing one shred of evidence Nielsen chose to accept an out of court settle- ment relinquishing his mone- tary judgment to Mr. Bird. Thus practically admitting that all of Mr. Bird's accusations were true. Orval Strong, Gerber Your officials STATE ASSEMBLYMAN — Jim Nielsen (R) State Capitol Bldg., Room 6031 Sacramento, CA 95814 (916) 319-2002; Fax (916) 319-2102 STATE SENATOR — Doug LaMalfa (R) State Capitol Bldg., Room 3070 Sacramento, CA 95814 (916) 651-4004; Fax (916) 445-7750 GOVERNOR — Jerry Brown, State Capitol Bldg., Sacramento, CA 95814; (916) 445-2841; Fax (916) 558-3160; E-mail: gover- nor@governor.ca.gov. U.S. REPRESENTATIVE — Wally Herger (R), 2595 Cean- othus Ave., Ste. 182, Chico, CA 95973; 893-8363. U.S.SENATORS — Dianne Feinstein (D), One Post Street, Suite 2450, San Francisco, CA 94104; (415) 393-0707. Fax (415) 393-0710. Barbara Boxer (D), 1700 Montgomery St., Suite 240, San Francisco, CA 94111; (510) 286-8537. Fax (202) 224- 0454.