Letters published in the Nov. 19, 2008 issue of The Explorer.
Plenty of blame to go around for this mess
Mr. Schwennesen writes (in the Nov. 4 Explorer) that our present economic crisis stems from FDR’s New Deal economics of 70 years ago. This is absurd.
He claims public companies Fannie Mae and Freddie Mac bundled the sub-prime mortgages and sold them to investment banks worldwide. This is certainly not true. The two companies were founded to provide liquidity to banks to provide mortgages to home buyers. The companies do not write mortgages. They issue debt securities to banks that are guaranteed up to $100 billion (raised recently) by the government.
One should read Wikipedia to understand the complexity of these instruments and their derivatives which caused part of our economic crisis. These instruments were certainly not available, nor envisioned, at the time of the New Deal.
Schwennesen mentions the low interest rates as a contributing factor to our problems. Greenspan has admitted that his now infamous economic model failed to account for the housing issue. There is plenty of blame to go around.
Republicans practice “supply-side economics.” The last three Republican administrations have led us into recessions. The Republicans must like recessions, they have presided over eight of the nine recessions since 1950. That is an indictment of the Republican supply-side or “trickle-down” economic model, which does not work.
A healthy economy is a delicate balance between supply and demand. Much like the teeter-totter, supply and demand must be in balanced equilibrium. Supply-siders legislate in favor of the providers of goods and services, giving them uncontrolled reign. CEOs ignore the needs of the workers (demand) by sending jobs overseas and keeping wages low. This imbalance kills the golden goose, the American consumer.
Supply without demand capability is folly. The recent incentive payouts of $600 per taxpayer is proof that the demand side was ignored too long. Workers had much rather have had a pay raise, health benefits, better jobs or other perks than a handout.
We need to rebalance our economy. If letting workers share more in the profits of capitalism is a redistribution of wealth; then there has been an upward redistribution of wealth to the rich for years under Republican administrations.
Restoring equilibrium isn’t socialism. Socialism would destroy the economic balance also.
Ben F. Love
Arroyo Grande looks like ‘deja vu all over again’
Arroyo Grande needs to be looked at very closely by every citizen of Oro Valley before it becomes “deja vu all over again.”
This annexation proposal has been on our table since last March. Despite numerous questions, few straight answers have been provided.
And guess what? This projected development of 16,000 homes in northern Pima County is beginning to look suspiciously like a “done deal.” The Town of Oro Valley seems determined to annex the 9,106 acres north of Sun City, and most of our council seems to be going along with the demands of the landowner, the Arizona State Land Department.
It is shocking to hear our present Oro Valley Council sounding much like the previous council. Our new council is acting like our old council that stuck us with the Marketplace versus what we were promised: unique, upscale shops that turned out to be a gigantic Wal-Mart.
Once again, we are being taken for a ride, and the man at the wheel is none other than Mayor Loomis, who has lobbied to expand this town for years. Almost all of the council seems to be aboard, with the notable exception of Paula Abbott. Along with many citizens, Paula is asking who’s going to pay for infrastructure and how we will deal with the increased traffic that comes with a huge population explosion.
A wildlife linkage that many have wanted for more than 10 years has been designed. The Coalition for Sonoran Desert Protection deserves great credit for hanging in there; but make no mistake, the 16,000 homes coveted by the State Land Department have been priority one since day one.
Residents of Oro Valley, you are not going to get a chance to vote this down like you did with the Naranja Town Site unless some brave citizen files a referendum or composes an initiative that truly reins in unrestrained growth. Unfortunately, five members of our present council, the one we worked hard to elect including Latas, Gillaspie and Garner, have done all they can to discourage the citizens’ use of initiative.
Do we see anything in this plan that will benefit the citizens of Oro Valley? Or do you see nothing but problems and expenses?
You decide, and let your views be known.
A need for more commerce near SaddleBrooke?
I attended the recent STOP Forum where Dave Jones, chair of the Transition Planning Committee, gave an excellent presentation on the current activities of the committee. I also heard a disturbing proposal by the developers of the coming commercial center at the entrance of SaddleBrooke.
The developers are looking for a grocery store to anchor the commercial center which I call SaddleBrooke Market Place. Their proposed grocery store will be 58,000 square feet. That size is bigger than Bashas’ a few minutes from SaddleBrooke. Bashas’ is a perfectly fine grocery store. Why we need a new monster in our front yard is beyond me.
The current issue of Two’s News gave some of the results of the retail survey requested by the developers. The responses are scary.
Right now we have in Catalina nine sit-down and three fast food restaurants. In SaddleBrooke we have five excellent restaurants with first class food and service. And coming on line will be three or four new restaurants in the Oro Valley Marketplace. With the call for new restaurants in the SaddleBrooke Market Place, you will see the lack of need for the SaddleBrooke restaurants. We can look forward to closing them. Just think of the money we will save. No more food and beverage deficits. We can put the vacant restaurant floor space to good use. The Mesquite could accommodate at least four pickleball courts. The Palo Verde Dining Room would make a fine volleyball court. The same could be said for the HOA#1 restaurants.
And what about traffic? I predict lots of calls to the fire department. There will be golf carts among the traffic. Think of driving your car at l0 miles an hour behind a golf cart. It is against the law to cross a double yellow line. We will just have to wait until that golf cart gets to the restaurants.
I think SaddleBrooke Market Place is a recipe for disaster and, if I knew what steps to take to stop the development, I would take those steps. Feel free to disagree with me. I would welcome your comments on the proposed development.