Response to “Tell me Moore, Dr. Paulâ€Â
The article published on Wednesday concerning the views of Ron Paul on the Federal Reserve is most disturbing. I would like to remind the author of that article that the Federal Reserve is there for a reason.
It was created in 1913 to address the economic uncertainty inherent to the capitalist system. The author points out that the goal of the Federal Reserve was, “to stabilize the currency and prevent the economy from fluctuating from astronomical highs to devastating lows.â€Â He then proceeds to argue the purchasing power of the dollar in 1913 as opposed to 2009. His argument does not hold water when you look at the fact that prices and wages have kept in line compared to 1913.
He continues on to point to recessions that have occurred since the Federal Reserve was created, believing that such existence of economic downturns defeats the purpose of the Federal Reserve. However, if you looked at a chart showing the growth (and decline) of the Gross Domestic Product from the 1950s to the present (when the Fed was able to detach itself completely from politics and buy and sell bonds in an open market) you would see relative stability compared to the early half of the 20th century.
As for the bill in the House regarding that the Federal Reserve be beholden to Congress, that is the worst idea ever because the idea of the Federal Reserve is to have it be independent from the political process so that it can make economically healthy decisions. Furthermore, the author̢۪s implication that we are a Marxist economy is nothing more than empty right-wing rhetoric. We are a mixed economy like the rest of the civilized industrial world. Learn to live in it!
Christopher Turley
Downtown key to city success
A city is a reflection of the downtown it maintains. Where is Fresno̢۪s downtown? The diversity seen in this city is unmatched within the rest of the United States of America. At one point Fresno had the tallest building in all of California. What does this say about where we came from? That Fulton Street was one of the most happening places around. Since then we have fallen to stereotypical stigmas and rumors of our downtown.
Recently, a movement has started to fix our downtown, to revitalize the districts and bring the city back inward. With the recession, this is the perfect time. Many people question or argue about what needs to be done to accomplish this, but there is only one thing truly missing from our revitalization efforts. Our city needs pride.
There are landowners creating new projects, historic buildings accomplishing new purpose, and great festivals occurring every month. Until our populace takes pride in what our city has to offer, until our citizens quit turning farmland into strip malls, our downtown will remain a vacant memory of what Fresno once was.
We can bring the fun back to downtown. Yet no one knows how to get the word to the public. None of us know how to tell Fresno that our downtown is safe, fun and unique. Let̢۪s educate our fellow neighbors of the opportunity, history and good times to be had in Fresno̢۪s historic downtown.
Andrew J. Madden