Pages 8-14. - Kingfisher Times and Free Press

➔AREA DEATHSThelma B. HillThelma B. HillThelma B. Hill, 100, ofChoctaw, formerly of Kingfisher,died Sunday, Aug. 12,2012.A memorial service will beheld at 2 p.m. Friday at DelCity Church of Christ, 1901Vickie Drive, Del City.She was born Aug. 14, 1911,near Battiest, to John andAmelia Walters.She graduated from AlbionHigh School in 1932. Shegraduated from OklahomaA&M College in 1936, with abachelor of science degree inhome economics.She married A. ThomasHill in 1941.She taught at Poteau, sixyears at Cashion, then at Kingfisher,retiring in 1977.She was a member of theDel City Church of Christ.Survivors include twodaughters, Karmaleta Hempeland husband Tim and TwilaWilliams, all of Choctaw; onebrother, B.F. Walters ofWebbers Falls; six grandchildren,and seven great-grandchildren.She was preceded in deathby three sisters and two brothers.Alta Mae BerkenbileAlta Mae Berkenbile, 92, ofunter, formerly ofennessey, died Sunday,ug. 12, 2012, in Enid.Funeral services will be atp.m. Thursday at the CenralChristian Church with theev. Don Johnson officiating.urial will follow in MemoialPark Cemetery under diectionof Anderson-Burrisuneral Home.She was born May 23, 1920,n Dover to Lawrence andstella Nichols Morris.She married Delmarerkenbile on Sept. 29, 1940.She and her husbandarmed near Hennessey,arber, and in 1950, theyoved to a farm in Hunter.She was a member of theunter Christian Church,others’ Recreation Club andolunteered as a “Cheeryherry Lady” at Bass Hospial.Survivors include fouraughters, Joyce Young andusband Merle of Mt. Home,daho, Patricia Jenkins andusband Walter of Enid,ucretia Mills and husbandary of Mansfield, Texas, andaquita Icenhower and husandJerry of Yukon; two sons,ean Berkenbile and wifearen of Hunter and Chuckerkenbile and wife Trish ofaleyville, Ala.; 15 grandchilren;28 great-grandchildren,nd two great-great-grandhildren.She was preceded in deathy her husband, Delmar, tworothers and two sisters.Shirlene FormanShirlene Forman, 75, ofustang died Sunday, Aug.2, 2012, at her home.Funeral services will be atp.m. Thursday in Sandersuneral Chapel. Burial willollow in Cashion Cemetery.She was born Dec. 6, 1936,n Dixon to Robert and Wilmaarrell King.She married Francisorman in 1967, in El Reno.She was employed at Garywen Construction for manyears.Survivors include her husand,Francis of the home; oneaughter, Stephanie Barrosond husband Marco of Musang;one son, Brent Formanf Oklahoma City; one sister,llene Pattillo and husbandob of St. Louis, Mo., and tworandchildren.She was preceded in deathy one brother, Larry King.PROFESSIONAL PRINTINGKINGFISHER OFFICE SUPPLY375-3404 • 317 N. Main • Downtown KingfisherWhat’s in a recovery?By Dr. Shawn RitenourEditor’s note: A version ofthis article first appeared atForbes.com.Thomson Reuters’ latestsurvey of Wall Street analysts’expectations about nextquarter’s corporate earningshas prompted some to wonderwhether the canary in thecoal mine is beginning to feellightheaded. According to theWall Street Journal, those inthe know are expecting decreasedearnings in the thirdquarter, the first quarterlydecline since the beginning ofthe official recovery. Ofcourse, with official unemploymentstuck above 8 percentand anemic real grossdomestic product (GDP)growth, one can be forgivenfor wondering just how theexperts define “recovery” andif the American business environmentis truly on the upswing.To understand our currenteconomic situation we mustdistinguish between a sustainablerecovery and one whichis as artificial as the flavors inthe Kool-Aid being drunk byspendthrift politicians and theKeynesian intellectuals whoenable them. Part of the confusionregarding our currenteconomy is how recessions aredefined by journalists and officials.The conventional mediadefinition of a recession istwo or more successive quarterswith GDP contraction. Asingle uptick in GDP, therefore,signals recovery accordingthis way of thinking.The National Bureau ofEconomic Research (NBER)has been given the official taskof dating recessions. TheNBER defines recession as aperiod of declining, not low,economic activity. We could,therefore, have an increase ingross domestic product andincome from a very low troughand still live in an economythat is much more depressedthan the previous peak andcould remain such for a long,long time. This is what we arecurrently experiencing. Sincethe last recession began inDecember 2007, economic activityimproved in June 2009,leading to NBER’s declarationthat the recession had officiallyended. Yet it could be arguedtoday that the economy continuesto perform far below2007 levels.Our so-called “recovery” isthe slowest following any recessionsince at least before1970. Employment recoveryfollowing the recession remainsthe worst following anyrecession since the Great Depression.In fact, our economicperformance is worse thanJapan’s during its lost decade.After teasing us with significantlyhigher rates ofgrowth last year, this year realFarnam Weight BuilderThis product is available at...CRESCENTCOOPERATIVE ASSN.GDP has slowed to a crawl.Why this manic-depressiveeconomic behavior? I wouldargue that much of the confusionpertains to problems withGDP itself.In the first place, it is hardto know which GDP numbersto trust because they are oftencalculated using inaccuratedata and are subject to perpetualrevision. Additionally,GDP includes large amountsof government spending,which by nature does not reflectreal productive activity.Such spending is not fundedby the voluntary purchases bythose who earned the money,but by taxes forcibly takenfrom them. The governmentdoes not produce, but ratherconsumes wealth by taxation,borrowing and monetary inflation.Consequently, whenGDP increases due to highergovernment spending, thisindicates less private productionand signals that theeconomy is getting worse, notbetter.Recent components of realGDP tell exactly this story.Private investment is significantlylower now than it wasat its pre-recession peak, makingup a smaller percentage ofGDP than it did before themeltdown. Governmentspending, however, increasedsteadily through the middleof 2010 and still claims a largerpercentage of GDP now thanit did before the recession.Built on such a sandy foundation,any economic expansionis unsustainable, becauseit not rooted in private investmentfunded by voluntarysavings. It is no wonder thatanalysts like those surveyedby Thomson Reuters expectdepressed corporate earningsin the upcoming quarter. Realrecovery is the product ofmore capital wisely investedby entrepreneurs. Three yearsafter the recession, we stillhave less private investmentand more government consumption.Government macroeconomicstatistics such as GDPor gross domestic income arenot a scientific measurementof economic well-being. Bewareof equating GDP withthe economy and increasedGDP with prosperity. There isgood reason to think that whatthe NBER calls our recovery ismuch more apparent than real.— Dr. Shawn Ritenour is aprofessor of economics at GroveCity College, contributor to TheCenter for Vision & Values, andauthor of “Foundations of Economics:A Christian View.”© 2012 by The Center forVision & Values at Grove CityCollege. The views & opinionsexpressed herein may, butdo not necessarily, reflect theviews of Grove City College.Premiumconcentratedhigh caloriesupplement forweight gain,body conditionand fuel forperformance.215 E. MadisonCrescent405-969-3334Mon-Fri 8-5;Sat 8-noonJ.J.Jech202 S. 6th, Kingfisher375-4434Auto • Home • LifeKingfisher (Okla.) Times & Free Press Wednesday, August 15, 2012 13Aug. 17 deadline for youth bonus antlerless deer hunt appsBeginning deer huntershave a unique opportunity toparticipate in five bonusantlerless deer hunts that willtake place on private land inOsage County (Oct. 5-7, 2012),Ellis County (Oct .12-13), KingfisherCounty (Oct. 13), CarterCounty (Nov. 23-24), and AlfalfaCounty (Jan. 11-13).This year 55 youths will bedrawn to receive one of thebonus private lands antlerlessdeer gun permits. To be eligible,youth must have completedtheir hunter educationrequirements prior to applyingand must be 12-17 yearsold at the time of their scheduledhunt.“These hunts are on privateproperty and should provideyoung hunters a greatopportunity to see some deeras well as a chance to harvest adoe,” said Bill Dinkines, assistantchief of wildlife for theOklahoma Department ofWildlife Conservation. “TheOklahoma Wildlife ConservationCommission has endorsedthe youth hunt program andwe are thankful for the landowners’willingness to allowthese kids the opportunity tohunt on their property.”To apply for a hunt, applicantsmust submit (mail orwalk-in only) an index cardwith the following information:1. Hunter’s first & lastname2. Date of birth3. 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Loan must be set up on auto debit from an F&M checking account.fmbankok.comBusiness & Residential HousekeepingWEATHER NEWS(As recorded by Local Weather ObserverSteve Loftis in Kingfisher)Day Hi Lo Pr.Aug. 9 101 72Aug. 10 95 71Aug. 11 97 68Aug. 12 101 59Aug. 13 93 75Aug. 14 87 65RainfallAugust rainfall to date .23January 2012 rainfall 1.85February 2012 rainfall 1.66March 2012 rainfall 2.14April 2012 rainfall 3.93May 2012 rainfall 3.02June 2012 rainfall 4.61Dec. 2011 rainfall 2.73Nov. 2011 rainfall 3.60Oct. 2011rainfall 3.82Sept. 2011 rainfall 1.36Aug. 2011 rainfall 2.60June 2011 rainfall 2.30July 2011 rainfall 1.552011 rainfall 30.052012 rainfall to date 17.34Grain markets Aug. 10Wheat $8.02 41¢from Aug. 7Corn $7.99 -20¢Milo $7.34 -20¢Soybeans $15.08 +33¢Canola n/a n/a%APR*