LETTERS: Federal Reserve deserves blame, not credit, for economy


To the editor:

Regarding the June 23 commentary, “What is the end game for American monetary policy?”:

Instead of giving the Federal Reserve “much credit for preventing the financial crisis and Great Recession from turning into a depression,” UNLV professor Stephen Miller should have blamed the Fed for causing the Great Recession and only delaying the inevitable depression. The Fed’s policies of credit expansion created the original housing boom and bust, and the bailouts of the banks and AIG have not solved the problem. The Fed has only encouraged reckless behavior in the future.

The market must be allowed to clear itself, and the longer that takes the longer the real recovery will be delayed. If this is an example of the economic theory being taught in our universities today, there is little hope of any robust economic growth in the future as these students become the economists and politicians of tomorrow. The only thing the Federal Reserve and the federal government can do to help the economy is to get out of the way and let the free market correct itself. This is what should be taught in our institutions of higher learning.

TOM PORTER

LAS VEGAS

Jim Rogers a Vegas gem

To the editor:

Your June 18 editorial, “Jim Rogers, honest man,” is correct. TV station owner, philanthropist and former Chancellor Jim Rogers could be brutally honest, but he put his money and energy where his mouth was. As a founding faculty member at UNLV’s Boyd Law School, I had the good fortune to witness firsthand his generosity and fine judgment, which contributed substantially to the creation and development of a great law school.

CARL TOBIAS

RICHMOND, VA.

Local sports coverage

To the editor:

In response to Jack Ornstein’s Wednesday letter about poor Dodgers coverage in the Review-Journal:

Since 1960, I have been a Giants fan. I see little about the Giants or any of the multitudes of sports teams in California. Sure, we would like the Review-Journal to provide more coverage of our favorite teams, but there is a limit as to how much space the Review-Journal can devote to such coverage.

Has Mr. Ornstein been to a Las Vegas 51s game? If he had, he might not feel the way he does. The 51s have fielded a very good team and are atop their division in the Pacific Coast League while supplying the New York Mets with players to fill in gaps as needed. The Triple-A games are fun to watch and, yes, sometimes one sees a player that ends up in the big leagues.

Even the Dodgers have a farm team. Las Vegas used to be home to that farm team.

Management has done an exceptional job of taking care of the team, the playing field, concessions, the support staff and, most importantly, the fans, while keeping the ticket prices at a comfortable level.

The Review-Journal should cover the 51s more and relate the fine job that is done by the local team, its staff and management. If you have not attended a game, do so. You will be pleasantly surprised and always welcomed by the personnel from the ticket booth all the way to your seats — and with a smile.

JIM MILLER

LAS VEGAS

Costly speech

To the editor:

Regarding “Hillary Clinton to collect $225,000 for keynote at UNLV fundraiser,” in Tuesday’s Review-Journal: At a time when our schools seem to be underfunded and UNLV is upping tuition costs, does it not seem strange to pay Mrs. Clinton $225,000 for a pre-presidential speech?

Charging $200 per person for the dinner, it would be necessary to have about 1,125 attendees.

DONNA ANDRESS

SEARCHLIGHT

 

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