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Hailey • Ketchum • Sun Valley • Bellevue • Carey • Fairfield • Shoshone • Picabo
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8.25.10 | Vol. 3 • No. 34
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(208) 928-7186 | 16 West Croy St., Hailey
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It’s a bird, it’s a plane… paragliders will soar off Paragliders Baldy taking a shot at that record. set to Baldy will beParagliding take over nuggets come Central during the too good to miss U.S. Paragliding the sky
Championships, by: Karen ate Scales which start SaturBossick set a new day and run through record state Sept. 5. paragliding record last The sight of a week when he sailed 148.5 hundred paragliders miles from the top of Baldy in the air over Baldy to the town of Spencer on the at one time will be a Idaho-Montana border. But the magnificent sight for Hailey finish carpenter’s record spectators, especially those who stands a good chance of falling care to hike up the mountain or this coming week. ride the gondola to the top, said If predictions hold, more than organizer Mike Pfau. a hundred of the world’s best Several pilots will fly over
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Ketchum tandem-style during the Wagon Days parade on Saturday, Sept. 4, base jumping into Ketchum. They will land on the empty lot across from the Ketchum Post Office at 151 4th St.
continued, page 10
Mike Pfau prepares to launch. COPURTESY PHOTO: KAREL KOULDOKA
On Glide over Idaho’s Magnificant Terrain.
COURTESY Photo: MIKE PFAU
For better or worse – Part I
A
few weeks ago, C-Span aired the Senate Budget Committee hearing on the state of the U.S. economy. It was fascinatby: JIMA Rice, Ph.D. ing: a civil and informative exploration of our current economy addressing how we got here, where exactly we are, things we can expect, and what we should do. Testimony was offered by Morgan Stanley’s Managing Director and Chief U.S. Economist, Dr David Berner; MIT Global Economics and Entrepreneurship Professor, Dr. Simon Johnson; and founder and CEO of Naroff Economic Advisors, Dr. Joel Naroff. I’ve composed a summary of the hearing to benchmark what these experts agree on regarding our economy. I leave it to you for any critiques. Part I takes up the first three questions above. Part II will appear next week and address testimony on “what should we do?” How we got into this mess: Market economies are subject to boom-bust cycles roughly every 3-7 years. Maintaining an economic peak is challenging. Growth usually tips into overheating which leads to an economic downturn. The government applies fiscal policy (taxing and spending) and monetary policy (interest rates and money supply) either to stimulate or slow the economy. In a recessionary economy, it usually reduces taxes, increases spending, lowers interest rates, and increases the money supply. Overheating
ahead of the curve
continued, page 16
Little Clyde on shelves now
PHOTO: KAREN BOSSICK/TWP
Idaho’s First Lady Lori Otter was in the Valley on Saturday afternoon to sign copies of her new children’s book, Little Clyde. Read about it on page 7
inside: FRIDAY STIMULUS, PG 6 | FANCY DANCIN’, PG 11 | MOUNTAIN HIGH, SECTION TOO!