The Press-Dispatch
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The Press-Dispatch H Prophets and losses Continued from page 2 es of the housing boom and bust. Nor was the Federal Reserve���s staff any more accurate in its prophecies. According to the New York Times, ���The Fed���s own staff still forecast that the economy would avoid a recession.��� Today, the economy has not yet fully recovered from the recession that the Federal Reserve System���s staff and chairmen thought we would avoid. We all make mistakes. But we don���t all have the enormous and growing power of the Federal Reserve System���or the seemingly boundless confidence that Fed Chairman Ben Bernanke still shows as he intervenes in the economy on a massive scale. Not only does the Federal Reserve System control the money supply and regulate banks, the Fed���s willingness to keep buying hundreds of billions of dollars��� worth of government bonds makes it easier for the Obama administration to keep engaging in massive deficit spending that runs up a record-breaking national debt. The reason that the Federal Reserve can afford to continue buying huge amounts of government bonds is that the Fed is authorized to create its own money out of thin air. They use the fancy term ���quantitative easing,��� instead of saying in plain English that they are essentially just printing more money. Being wrong is nothing new for the Federal Reserve System. Since this year is the one hundredth anniversary of the Fed���s founding, it may be worth looking back at its history. President Woodrow Wil- son explained the reasons for creating the Federal Reserve System. He said that the Federal Reserve ���provides a currency which expands as it is needed and contracts when it is not needed��� and that ���the power to direct this system of credits is put into the hands of a public board of disinterested officers of the Government itself��� to avoid control by private bankers or other special interests. The Federal Reserve was supposed to prevent shocks to the economy that can come from drastic inflation or deflation, and reduce the dangers that can come from widespread bank failures. These are all good goals. But what is the Fed���s track record? In the hundred years before there was a Federal Reserve System, inflation was less than half of what it became in the hundred years after the Fed was founded. The biggest deflation in the history of the country came after the Fed was founded, and that deflation contributed to the Great Depression of the 1930s. As for bank failures, they reached levels unheard of before there was a Federal Reserve System. Like so many ���progressives,��� then and now, Woodrow Wilson seemed to think that, if those who made government decisions had no financial interest in those decisions, then they could be trusted to wield their powers in the public interest. But the enormous power wielded by the unelected leaders of the Fed over the economy, unchecked by the constraints of the market, has repeatedly turned out to be more than human beings can handle. H Immigration Continued from page 2 groups and propose responsible solutions. It should not, however, repeat the mistakes of the past.��� When it comes to immigration, we need a system that welcomes immigrants, protects our sovereignty, encourages assimilation and expands opportunities for everyone. It will take time and effort to make sure that happens. A huge, catch-all bill won���t do the job. In fact, as we���ve seen from past ���comprehensive��� efforts, it can make it worse. It���s time to slow down���and get it right. Ed Feulner is president of the Heritage Foundation (heritage.org). H Points to ponder Continued from page 2 passage where Jesus says ���the spirit is indeed willing, but the flesh is weak��� when failure to control the desires and passions comes? This cannot be used as an excuse because the overcoming life is the hallmark of the Christian experience. This brings us back to my opening ���what���s in it for me?��� If that is the attitude, then the time of Lent will mean nothing, and that is what one will receive. But if one enters Lent with a contrite heart and broken spirit, the blessings of overcoming the flesh will be evident. From Ash Wednesday until Easter is 44 days, and we are asked to afflict our souls. Only when we can take dominion over self de- sires and cravings can we experience what Jesus said to his disciples ���be of good cheer, I have overcome the world.��� Think about it! netedition with ���ExclusiveVideo ���Allcolorphotos ���Searchcurrent andbackissues Add NETedtion to your paper subscription for just $5 PressDispatch.net/ Subscribe Bob-Inn Band ��� Band ��� Band Saturday, Feb. 16 10pm-2am Jake Martin Band $3 cover charge Free BreakFast ��� DesignateD Driver availaBle (812)789-9231 When two people are together, they can lose sight of why they���re with each other. But in 3 little words I can tell you why I���m with you Stacy Lynn. Wednesday, February 13, 2013 Court report Criminal Docket Pike Circuit Court In re: investigation subpoena duces tecum. Jarret D. Whitehead charged with count I, theft, a class D felony; count II, resisting law enforcement, a class A misdemeanor; and count III, possession of a schedule II controlled substance, a class D felony. Traffic and misdemeanor Pike Circuit Court Kelly L. Tinkle charged with abandonment or neglect of a vertebrate animal, a class A misdemeanor. Joshua L. Boyd charged with minor consumption of alcohol, a class C misdemeanor. Tyler J. Snyder charged with operating a vehicle with a blood alcohol content of 0.8 percent or more, a class C misdemeanor; and count II, operating a vehicle while intoxicated, a class C misdemeanor. Edward L. Bowling II charged with battery, a class A misdemeanor. Civil Docket Pike Circuit Court Old National Bank sues John R. Marron, Julie A. Marron and unknown occupants on complaint for disclosure. In re: foreign judgement. G.E. Capital Retail Bank fka Money Bank sues Vicki Welborn on complaint. Deaconess Hospital sues Derek West on complaint. Small Claims Pike Circuit Court Kyle Barry sues Sabrina Morgan for complaint on account. Lloyd Coleman sues Jeanette Curtis on complaint, demands action for possession of real estate. LVNV Funding LLC sues Martha E. Prestage on complaint. Infractions Pike Circuit Court Julie A. Alsman charged with speeding, 64 mph in a 55 zone. Jeremy W. Ball charged with speeding, 64 mph in a 55 zone. Marilyn J. Banks charged with speeding, 49 mph in a 35 zone. Daniel J. Burris charged with seat belt violation. Jacqueline J. Burris charged with seat belt violation. Kyle J. Cooper charged with speeding, 45 mph in a 35 zone. Timothy D. Day charged with speeding, 67 mph in a 55 zone. Blaine J. Drew charged with speeding, 49 mph in a 35 zone. David E. Ennis charged with no insurance. Marsla G. Fowler charged with expired plates. Darrle L. Hill charged with speeding, 52 mph in a 30 zone. Jordan A. Jones charged with speeding, 50 mph in a 35 zone. Michaela K. Keller charged with seat belt violation. Robert L. Loveless charged with seat belt violation. Brian P. Matteson charged with speeding, 53 mph in a 25 zone. Shane D. Moore charged with speeding, 80 mph in a 70 zone. Christopher J. Mosby charged with driving while suspended. Brian K. Wilson charged with speeding, 69 mph in a 55 zone. Annabel Richardson, Katy Aldridge, Sylvia Wheeler, Mike Meyer, Dana Klipsch is back on the mail route, Arvle Wade, Tom Saileau, Aaron Craig, Dagmar Brossman, Ralph Reavis, George and Opal Fiscus, Paul and Alene Poehlein, Margie Hart, George Virden, Betty Sullivan, Botsy Woolsey, Phyllis Head, Tim Wheeler, Mildred Virden, many are suffering from colds and flu and submitting to therapy and tests. May all our stars feel better and be back with their family and friends who care a lot for them. Events coming up in Winslow and the surrounding areas: Feb. 13���Ash Wednesday Feb. 14���Valentine���s Day���Pike County Leo Club members have roses and carnations for sale if you need to get your loved ones a gift at the last minute. They also have Mason jar vases. Feb. 18���President���s Day observation. Feb. 21���Winslow Lions Club meeting at 7 p.m. at the Trading Post and the Governor of the Lions will be at the dinner. Feb. 22���Washington���s birthday. Feb. 25���Winslow Town Hall meeting at 7. Feb. 26���Winslow Beautification at 6:30, Winslow Economic and Development at 7:30, both at the Community Center. Winslow Senior Citizens meet on Mon. and Tues. at the Community Center. Petersburg Senior Citizens meet Monday, Tuesday, Wednesday and Friday, in the Courthouse basement. No postcards this week but the address is Sweets Column, Winslow, IN 47598. As the light begin to dim for this week, keep an eye on family and friends and always smile, wave and say ���hi��� to everyone this week. Happy Valentine���s Day! Sweet���s column By Barbara Sweet Hi stars and welcome to the brightly lit and decorated stage to celebrate with all our stars who will have a birthday or anniversary in the week of Feb. 14 to 20. Come on up to the big stage and take a bow. Feb. 14���Zack Vickers will be 23, Tyler Hill will turn 15, Tom and Happy Vinnedge will celebrate 21 years of wedded bliss, Jerry and Rosella Hill will celebrate 29 years. Feb. 15���Pamela Sturgeon Meyer will be 48, Matthew Raney will turn 46, Jeremy Henderson will be 21, Jason and Anna Hulfachor will celebrate two years of wedded bliss. Feb. 17���Hannah Lombardo will be 19, Kenneth Hall. Feb. 18���Travis Atkins will be 29, Eugenia Rose Smeltekup will be 5, Georgia Quick, Zoe Russell will be 4, Kenneth and Hope Hall will celebrate 51 years of wedded bliss. Feb. 19���Heather Nowark will be 40, Brenda Riley will be 53. Feb. 20���Adam Bolin will be 9, Paul Poehlein will be 85, Jeff and Joy Cassidy will celebrate 23 years of wedded bliss. Feb. 22���Pam Thomas May all our stars have a great day and may all your wishes come true throughout the year to come. Keep in your heart all our stars in the hospital, nursing home or at home for many reasons: Ernie and Marilee Hume, Irene McDonald, Charlie Crane at The Timbers in Jasper, Christine Toms at Good Samaritan in Oakland City, Kay Drury at Amber Manor, Benney Kelley, Rufus Lemond Jr., Edwin McDonald, Jr., Charlie and Virginia Norrick, CONNECT your student Your college student is already plugged in. Why not connect them with news from their hometown? There is no need to wait for the mail, get NETedition and your student will have their news Wednesday. netedition pressdispatch.net/edition Web, Smartphone, Tablet College subsCription Just $18 per year for a NETedition or paper subscription. Call Today 354-8500 I love you. Be my Valentine. -Terry C-3 Call 354-8500 today to plug in your student!