Professional Documents
Culture Documents
DENVER, CO
PRSRT STD
PERMIT NO.
PERMIT NO.
Dispatch
POSTAGE
ews Dispatch
With this coupon Expires 8/07
The Origins of Economic Distress: was the housing bubble, in which home
valuations rocketed up 50% while GDP
lion daily, totaling some $1.5 trillion so
far. As James Fallows has reported, that
Apex and Foundation increased 14%. Eric Janzen, writing in
Harper’s, put the inflated value of hous-
means the poor of China have purchased
$4,000 in U.S. debt for every man, woman
Imagine our economy in three parts. the reality? Energy prices leap ever higher ing due to the bubble at $13 trillion, using and child in America. Put on hold for a
The first is the foundation, upon which daily. Health care costs inflate at double the Federal Reserve’s Flow of Funds. One second what that means in geo-political
everything else rests. In the modern age, digit rates. Even food prices threaten the good way to recognize a bubble? When terms. This represents a huge risk for
that foundation is energy- the vast enter- effective standard of living. The dollar is the cost of an item (like a home) is increas- both China and America. For the Chinese,
prise by which resources are taken from so weak that it may not be the world’s ing far more quickly than people’s ability this is an investment risk. As the dollar
the earth (and increasingly the sun and reserve currency much longer, a possibili- to buy the item. And now we are in the suffers, the commodities that they use for
sky), refined, transported and used. The ty that could literally bankrupt the nation, midst of a commodity bubble, with gold manufacture and the energy they import,
third, the apex, is the financial sector— leaving no buyers for the prodigious debt and oil leading the way, but also includ- get more expensive relative to their huge
the creation of capital and credit, and its we create month in and month out. ing grain, uranium and copper. The com- asset base. As some point, the Chinese
exploitation. Everything feeds the apex, At its peak, the apex, the American modity bubble is currently being inflated will have to diversify (just like your 401k),
every credit card and check transaction, financial sector is in miserable shape, by two factors-- the plunging value of the and unwind this giant dollar position, or
every major purchase (home, car, educa- despite extraordinary efforts by the Federal dollar, which automatically creates price risk getting clobbered as everything they
tion) puts a percentage into the financial Reserve to maintain stability. Highly lev- increases in commodities valued in dol- import goes sky high in pricing. For the
sector, however small. Finance is largely eraged in every market by speculation, lars, and the massive asset rotation out U.S., this is a debtor’s risk. If the Chinese
parasitic, feeding off value and trade creat- from credit card debt to municipal bonds, of stocks and into commodities. Simply call our loan, or begin to sell off their
ed elsewhere. The middle ground between we are seeing a gigantic house of cards put, when stocks and bonds look risky devalued dollar investments, we will be
the apex and foundation is our productive crumble. American prosperity is an illu- and none-too-profitable, investors switch badly hurt. They will be selling into a fall-
economy, where labor and capital com- sion of debt. We borrow, and create money to another asset class or type of invest- ing market, risking a run on Treasuries.
bine to create value and benefit. through leverage, far in excess of the ment. The stock market has been flat for Simply put, the interest cost to taxpayers
This metaphor is purely subjective— cumulative value of economic production a decade, measured by the S&P 500, so will skyrocket, crippling our ability to deal
there is no value judgement in putting (GDP). At every turn, from mortgages, to investors have put their money into, or with Social Security, Medicare, Medicaid,
banks at the top and oil drillers at the bonds, we put a fraction down and prom- speculated with, oil, gold and the like. not to mention everything else the federal
bottom and everyone else in the middle. ise to pay later. A hedge fund, Carlyle More buyers mean higher prices, yes? government spends money upon. This is
But it is helpful to understand how these Capital, related to the private equity fund Some observers, like William an arrangement that simply can not be
segments interact. the Carlyle Group, failed last month-- it Fleckenstein, put the bubble blame sustained.
Most Americans don’t recognize this was leveraged 32 times to one. In plain squarely upon the Federal Reserve, and a China also invests in America through
structure and the cracks that threaten language, it took $1,000 in collateral and sustained monetary policy that drove the Sovereign Wealth Funds (SWF), and they
the stability of the productive economy. purchased $32,000 worth of mortgages-- cost of money to nearly zero for a fifteen buy much more than just treasury bonds.
Our leaders, when aware, won’t discuss good old government insured mortgages, year period. Cheap money also chan- They are giant investors in private equity
it. Interests, from corporate, to labor, to to the tune of $27.1 billion. No bank or nels money from the productive sectors funds, which increasingly, own American
environmental, to bureaucratic, fear a real credit union could ever have done this of the economy into financial specula- corporations, including many companies
debate about our common needs. The 32-to-1 trick, but a variety of pseudo- tion, widening the cracks in the apex. you are a daily consumer of.
media, generally too depthless, won’t dare banks have done the same, essentially Fleckenstein’s book, Greenspan’s Bubbles, As the American financial sector
to tell the story. Academia is too fractured creating phony money through leverage. is a lengthy tour of the effects of the Fed’s cratered this January, Sovereign Wealth
and secularized to grasp the long view And many of them, including the giant actions. Speculation is fueled by cheap Funds from Singapore, China, Abu Dhabi
round it. investment bank Bear Stearns have now money and leverage, and while regulators and Oman raced to the rescue. Or was it a
Regardless, the problems are real. failed. That phony money is now gone, have turned a blind-eye to widespread firesale? Merrill Lynch, Citigroup, Morgan
Some measures of it are visited upon taking some $18 billion in shareholder and creative use of leverage, cheap money Stanley, Bear Stearns and UBS, the cream
the vast majority of American families. value with it. is purely the result of monetary policy. of the American banking industry, took in
Real wages (adjusted for inflation) in the We now have seen three financial bub- It seems, however, that bubbles and a total of $30.5 billion from SWFs, accord-
United States are stagnant over the last bles arise and two burst in an astonishing- leverage are only a portion of the prob- ing to CFO Magazine. It’s unclear exactly
seven years, only 0.8% higher in January ly short period of time. The first was the lems besetting the apex of the economy. who all these investors are, and what their
2008 then March 2001. internet/tech stock bubble, which blew The Chinese are purchasing the debt real stakes may total.
Inflation is said to be contained. But up, vaporizing some $7 trillion. Next of the United States at the rate of $1 bil- see FINANCIAL on page 4
.PN T% BZ
NPNTXBZ
5.
N_\epflYlpX^`]kZXi[]fidfdY\kn\\eefnXe[DXp((k_#j_\cci\Z\`m\X]i\\jgX^`]kXe[>f[`mXZ_fZfcXk\ki\Xk
n_\ej_\Zfd\j`e]fi_\i[Xpf]gcXp%8e[`]j_\m`j`kjljfeDXp((k_#j_\cci\Z\`m\XZfdgc`d\ekXipn_`k\ifj\
Xe[^cXjjf]Z_XdgX^e\X]k\i_\ijgXj\im`Z\%@kj^ff[]fidfdjf]XccX^\j#Xe[Xi\ekpfljn\\k]fik_`eb`e^f]`k% 5.
4.
)0,,\Xjk(jkXm\#[\em\i*'**)(GLI8gliXm`[XZclY%Zfd
F]]\imXc`[k_ifl^_,&((&'/%8cck\idjf]^`]kZXi[gliZ_Xj\jXggcp%
April 18, 2008 Cherry Creek News & Central Denver Dispatch Page 3
Cherry
Creek North
lets
improvements
contracts
In November 2006, businesses
and property owners in the Cherry
Creek North Business Improvement
District narrowly approved $18.5 mil-
lion in bonds. The issue was strongly
opposed by many small, indepen-
dent businesses in the District, which
lies between 1st and 3rd Avenues,
and encompasses some 300 busi-
nesses. The bonds were for a largely
unspecified set of improvements to
the business district’s infrastructure.
The delay in issuing
bonds will ultimately
cost taxpayers
millions in additional
interest, and the
municipal bond
market is in a near
crisis state after the
meltdown of
subprime mortgages
strangled credit
markets.
Tavern
While no bonds have yet to be
sold, the project now seems to be
THG Hospitality
Group
getting underway seventeen months
later. The delay in issuing bonds will
ultimately cost taxpayers millions in
additional interest, and the munici- host to events, ice skating and mov-
pal bond market is in a near crisis ies in the past.
state after the meltdown of subprime Answering past criticism has been
a part of the job for the District’s
mortgages strangled credit markets.
The district has let two contracts president, Julie Bender, who has FDA Cleared Medical Breakthrough
for $2 million worth of consulting launched a newsletter and monthly
contracts for the design of improve- meetings in an attempt to keep busi- 86% Relief
ments and project management. The ness owners in the loop.
project management deal was worth Receiving contracts Design
$550,000 alone, some three percent Workshop team. Additional team Scientific Discovery
of the total amount authorized by members include CommArts
voters. (design), Desman (parking), Fehr & in the relief of back pain.
Fillmore Plaza, which has seen Peers (traffic), JVA (civil and struc- Now available in Cherry Creek.
several controversial plans for tural) and Patrick Quigley (lighting
changes, may or may not be part of design)..
the project. Cherry Creek residents California’s Nolte Associates for
have been active in opposing some providing program management and
proposals for changes at the location, inspection services for the design
long viewed as a public amenity, and phase of the project.
Sunny Getaway!
25% discount from owner
303.458.7541 Dhabi and Singapore have their best inter- status as financial titan, what will be left?
ests at heart, they may be in for a nasty Hollywood? Video games? Not a very
surprise down the road. But what we do pretty prospect. With our low savings rate
know is that the American economy no and high consumer debt levels, we will be
longer has the strength or the flexibility to hard pressed to find the funds to invest in
support its own banks and brokers. technology, the area we still hold a global
Increasingly, the dollar is creating a edge in.
new set of hazards for our financial apex. Next month, the cracks in the founda-
COMPLIMENTARY PREVIEWS
ing on how snobbish you are about Niobe which is a dark red, Mrs. Norm
utilizing Interior ReVisions’ staging works-we got 2
303-394-4340
such things. The word Thompson in shades of
comes from the Greek blue with red stripes. services because they offers in a week!”
word klematis meaning Down the These are all hybrids creatively used what
“a kind of vine.” Garden path and will not bloom as I already had." Amanda M.
There is one variety profusely as others. All
www.interior-revisions.com
Interior Redesign Industry Specialist
Michele Roth, IRIS
that is not a vine but a of the above mentioned Philip C.
shrub that grows four to five feet in bloom on new growth and must be
height. It’s called clematis recta and pruned early the same as the jack- Michele Roth, IRIS Learn more at
blooms most of the summer. manii. interior-revisions.com
Today we are primarily concerned Autumn clematis is fragrant and
with the vining types. The flowers doesn’t start blooming until August COMPLIMENTARY PREVIEWS • 303-394-4340
have no true petals. Its beauty lies and then blooms through October.
the colorful sepals. It’s hardy and has The white flowers are small and not
few to no insect pests in our area. The particularly attractive. This plant
diseases that affect this is primarily for fra-
plant in other areas don’t grance so plant it
occur in our climate. close to a window.
The oldest favorite There’s only one
thing to remem-
303.722.3000 www.ClassicHomeworks.com
and the hardiest clema-
tis is jackmanii. It must ber when planting a Are you considering a
clematis but it is very ¢^aafqflkp
be pruned early in the remodeling project in
spring. If you have a important if you want ¢hfq`ebkp the future?
mature vine and haven’t it to bloom. Put it ¢_^pbjbkqp Start planning now!
pruned it yet, do so now. where its feet will be We can help.
¢#jr`ejlob
Cut old stems about eight in shade and its head
inches from the soil level in the sun. The roots
and give the plant nitro- must be kept cool Specializing in “One Day Makeovers”
gen and phosphate. The or the plant won’t Using your furnishings and accessories
jackmanii is a vigorous bloom. Garden loam To create a professional, fresh look in your home!
grower so you’ll have to is suitable soil but
watch it throughout the it likes a little lime. COMPLIMENTARY PREVIEWS
Call today for a
summer. Left alone it will sprawl on That’s why they do so well for us. 303-394-4340
the ground and ignore your trellis or Mulch every year and fertilize every Specializing
Michele Roth, IRIS
in “One Day Makeovers”
free in-home
consultation
whatever you are training it on. The year. Mulching is important in the UsingSpecialist
Interior Redesign Industry your furnishings and accessories
ties you get in trash bags work very spring if you use compost as it settles To create a professional, fresh look in your home!
`i^ppf`abpfdk)nr^ifqv`o^cqpj^kpefm
www.interior-revisions.com
nicely to tie this plant to wire or thin in and doesn’t provide the needed
protection for the roots. It’s all right COMPLIMENTARY PREVIEWS
to mulch more than once. Clematis is
303-394-4340
Redwine Piano Tuning not like a peony which resents having
dirt piled on top of its roots. EXERCISE RESEARCH
If you would like to start your Michele Roth, IRIS
Musician’s Ear STUDY!
own plants, layering is a good way. Interior Redesign Industry Specialist
Lay a stem down so it runs along the To participate in this study you must www.interior-revisions.com
ground and put more dirt on top of be...
it. Hold it in place with pegs or rocks. • a woman or man in generally good
The stem will root and start new health
plants for you. If you’re doing this • 60 – 75 years of age
Come Celebrate the
for yourself, set the little seedlings
right where you want them to grow.
• not lifting weights regularly but
Artist’s Touch Holidays at
Clematis resents being moved. If
willing to start
• not using aspirin, ibuprofen or simi-
you are buying plants, put the pots New sectionals...
Come Celebrate the
$80 Piano Tuning where you want it to grow and keep lar drugs more than 2 days per month
soil moist. Do this for a week and new bookcases...
Holidays at
$25 OFF! then set in. The best time to do this in
the spring. If you are layering to start
Eligible women and men will receive
at no cost... new colors...
• health screening tests
Call Mike Redwine new shoots, do that in August. If the
seedlings thrive you can plant before • a personalized and supervised exer-
Come Celebrate the
New season!
303-818-6316 our nights get cold. Ifyour classically
not leave, them hipcise furniture
program Holidays at
in place until spring. & decor
Some store, featuring
winter
-Offer ends May 31- watering will keep thempersonalized
alive.*** service
We are&looking at the effects of the
everyday low pricing. pain reliever ibuprofen on changes in your classically hip furniture
muscle and bone due to exercise in & decor store, featuring
303-756-2222 personalized service &
Healthy Women Needed for Cardiovascular Research 2553 Study older adults.
S. Colo.Initial Blvd.screening tests include a physi- everyday low pricing.
Purpose: Benefits for study volunteers include:
/FF /NE )TEM cal exam, bone density scan, treadmill •your classically hip furniture
exercise test, and blood tests. Wom-
303-756-2222
classically hip upscale furniture •
The purpose of this study is to in- • Physician supervised exercise stress %XPIRES & decorative,
• fun, decor store, featuring
wonderful gifts •
vestigate how the menopause transi- test en and men who qualify will begin 2553 S. Colo.
personalized Blvd.
service
• personal service • &
tion and the loss of estrogen impacts • Ultrasound of the blood vessels and planned exercise training for 9 months everyday low prices
pricing.
at our exercise facility. Participants /FF /NE )TEM
• reasonable •
the health and function of arteries in heart %XPIRES
women. • Blood cholesterol profile will take ibuprofen or an inactive pill 303-756-2222
(placebo) on the days they exercise. New
2553 goods arrivingBlvd.
S. Colo. daily...
• Comprehensive dietary analyses
This study is funded by the National
Qualifications: • Measurements of bone mineral den- Floor models being
Institutes of Health. /FF /NE )TEM
Premenopausal women 21-35 years, sity and body composition
Monetary compensation provided.
reduced to make room!
%XPIRES
Perimenopausal women 40-55 years • Compensation for your time Principal Investigator: Wendy Kohrt,
and Postmenopausal women between PhD - - COMIRB #06-0769
the age of 45-70 years If you are interested in participating
Non-smokers Please contact Kalen Abbott at Interested?... please contact Marsha at
Volunteers should NOT currently be (720) 848-6418 or Kalen. 720.848.6461 or
taking Birth Control or Hormone Re- Abbott@uchsc.edu marsha.steirn@uchsc.edu
placement Therapy (HRT) or exercis- Division of Geriatric Medicine University Hills West
ing vigorously more than 2 days per University of Colorado University of Colorado at Denver and
week. Health Sciences Center. MVMVTGVSOJUVSFDPN
Health Sciences Center
Page 6 Cherry Creek News & Central Denver Dispatch April 18, 2008
May 1 - 4
dreary looking at dated fixtures and of MillTech, Inc., a company that spe-
trim, and feeling like extras in an epi- cializes in custom woodwork design
sode of That 70s Show. and installation. “Our business has
If a new coat of paint isn’t going to always been mostly about new con-
do the trick, it might be time to look struction, but now we’re finding more
Thursday ~ Saturday 10 am - 6 pm at upgrading the home you already and more customers who are calling
have - and indeed, in the current econ- us looking for ways to upgrade and
Sunday 10 am - 4 pm omy, new home construction is down modernize the homes they live in now.
and consumers appear to be spending continued on page 7
Denver Merchandise Mart
I-25 and 58th Avenue, Exit #215
z Over 400 Quilts, Garments &
Works of Textile Art on Display
z Shop the Merchants Mall
z Workshops & Lectures are also available
Event Sponsors:
Exercise as a metaphor
for life
by Angela Sasseville, MA,NCC took mental stock of the setbacks that
At the time I started Jazzercise, I had occurred in my life that week, the
was struggling with the recent death situations that had required courage
of my brother, Jake. His terminal or tenacity. Then something would
illness left me disconnected from shift as my body and my attitude fell
the fact that my physical body was in sync with one another. I would
still alive and still vital. As a mother step into the knowledge that I hadn’t
of two very young children, find- given up at class or in life because I
ing time for myself for things like had more strength and determina-
exercise was a constant challenge. tion than I had recognized. I left each
There was a dialogue going on inside class feeling confident and alive.
my head, one voice telling me to be In the field of psychology we call
patient and appreciative of my post- these “mastery tasks.” Any hobby
partum body, and another voice beg- or form of exercise that we partici-
ging me to find my way back to my pate in with regularity allows us to
fit pre-motherhood body. My busi- observe our own improvements and
ness was brand new and required proficiencies over time, increasing
intense amounts of labor and invest- our self-esteem, connecting us to the
ments without many rewards. In knowledge held inside our bodies.
short, my stress level was high and Adults and children alike can apply
I became discouraged from time to this self knowledge to other areas
time. of their lives. The boy who’s come
At the beginning of each hour-long to believe he’s dumb because he has
class my body would get warmed
up, my lungs would open and I’d
enjoy the physical sensations of exer-
poor grades can use the skills and
persistence he’s groomed from soc-
cer practice to recognize that he’s
Fan Acupuncture Clinic
cise. But as class continued and the talented and determined enough to 20 Years of Clinic Practice
cardiovascular intensity increased, I succeed. As my exercise mentor said, & Teaching in China and America
would hit the wall. My lungs heaved “Have hope. MAKE tomorrow bet-
trying to take in increasing amounts ter than today.” She added, “I believe Acupuncture, Chinese Herbs
of oxygen, my muscles fatigued and people can change their lives. But • All kids of Pain • Spinal Cord Injuries • Auto & Sports Injuries
• Stroke • Depression • Insomnia • Stress • Low Energy
began to ache. I wanted to quit and you have to want it.” • Fatigue • Balance Problems • Headache • Migraine • Acne
there were still 35 minutes left! And Psychotherapist Angela Sasseville, MA, • Cough • Asthma • Allergies • Heart Disease • Cancer
that’s when the real workout, the NCC supports adults, couples, families • Diabetes • Menstrual Problems • Morning Sickness • Infertility
• Impotence • Breast Lumps • Menopause • Endometriosis
battle to overcome discouragement, and kids of all ages at Flourish Counseling, • PMS • Arthritis & other difficult cases
Fan, Dongming Cheng, Junou
began. LLC…Because EVERYONE deserves to Ph.D, OMD, L.Ac OMD, L.Ac
I recognized that my exercise rou- flourish! See www.FlourishCounseling. We Accept Medical & Auto Insurance
tine and my life were mirror images com or call 303-875-0386 for more infor-
of one another. Still dancing and mation.*** New location: Grand Opening!
keeping up with the rest of the class, I New Clients receive free consultation (a $30 value!)
SO gym in Lowry. Ne
w ȒMΕD͕TFǚґӂέ4̙Ȫ҅JEǑ
ast
Co
the process
LD of inquiry and discovery Academy’s L
der
SO
as they invent new and improved
Un
2X POINTS ON TUESDAYS
Earn double points all day on Tuesdays on all your favorite games.
Mid-300’s to $2 Million
Guest Suites
Entertainment Area
Enjoy all that Cherry Creek living has to offer without spending a fortune. www.monroepointe.com
Luxury residences at Monroe Pointe are exquisitely appointed condominiums
with all the amenities you could want. Best of all,our homes start in the mid-$300s.
Our unique design gives you choices no other property in Cherry Creek can
offer. Visit our models at 333 S. Monroe Street,Tuesday through Sunday. But
hurry, because Cherry Creek’s best address won’t be a secret much longer.
Represented exclusively by
&OR 3ALE "Y /WNER
3AVE 3AVE 3AVE
'ORGEOUS ,UXURY #ONDO
BR BA
STAR AMENITIES
+
www.thecherrycreeknews.com -ARISA (ARRIS
April 18, 2008 Cherry Creek News & Central Denver Dispatch Page 11
Denver
SPINE CONDITIONS
Normal Disc
Degenerative
Disc
Bulging Disc
Herniated
Disc
Thinning Disc
Disc Degeneration
with
Osteophyte formation
"53).%33 /&