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October 24, 2008

Dollar Rises Against Corn Flakes

By Peter Falvey

The article is about the current economic crisis and a way to jump start the economy that is, unfortunately the least likely of solutions.

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Today on Wall Street the best and only even vaguely good news for the American economy was the rise of the dollar against the euro, the yen and the pound. A true conservative celebrant, Mister Drop awaits news from the grocery store before joining the celebration of the rise of the dollar.

Having cut the interest rate to the quick, bailed out everyone in sight of Wall Street and moving to nationalize failing banks, all to no avail, there remains one option left for those who would jump start this economy. The possibility of using a bailout of the poor to bail us all out is so unlikely that one must question the priority of jump starting the economy. If jump starting the economy isn't the priority, what is? If the past is any guide to the present, it's really about bailing out the same people who got us in this fix in the first place, but it's not the first time they've done this property pyramid scheme, it's the second. At the heart of S&L Crisis I and S&L Crisis II are valuations of property that don't stand up over time. In order to prevent S&L Crisis III maybe we should consider not giving a mortgage that represent over 80% of the assessed value of a property for the prior ten years. Take the speculation out of the housing market and we are pretty well protected from S&L Crisis III.   



Authors Bio:
Went to Amherst College where I majored in political science and fine art. I found this to be a good foundation for the citizen editorial cartoon work I currently do, although far from enough. My work in what is called the mental health field with individuals, families, school systems and folks who are economically challenged provided a perspective for my thinking about social issues. I marched in Washington for peace and various other places for civil rights and worked for Sen Gene McCarthy. Later I received MEd and CAGS from The University of Mass at Amherst. My editorial cartoons have appeared in several publications. I am currently writing a proposal for an Citizen Editorial Cartoon section for OEN and an entry for Citizen Editorial Cartoons for Wikipedia. I several cartoon series and have finished a book entitled The Return of Prodigal Son, that tells of the daily doings in Heaven. Those who have read it say it would be a serious mistake to make up your after life itinerary without reading what could be considered the most comprehensive tour guide of contemporary Heaven.

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