Thursday, November 26, 2009
Wednesday, November 25, 2009
John F. Kennedy speaks about the Evils of Secrecy - 48 years ago
This Prophetical speech was made by Kennedy in 1961. In my opinion, this is where we are today. A society where the 1st amendment and individual liberty are taking a back seat, where the press chooses not to report vital information that the public needs to make vital decisions, where important deals involving the public treasury are made behind closed doors, and where the goal of the government seems to be to shut down any ideas and/or communication that aren't consistent with their program.
Wake Up!!!
Monday, November 23, 2009
Sunday, November 22, 2009
Hickory and this year's Milken Statistics - (2008-2009)
The Milken Institute Statistics of the Best Performing Cities, for the past year, came out last week and I have looked over them. The numbers show that the Hickory metro improved very slightly. We are now ranked #185 out of the top 200 U.S. metros compared to #191 last year. Job growth and wage growth trends are still lousy, but High-Tech GDP output shot through the roof and shows to be an emerging trend.
Here are the rankings and trends since 2003:
Below is a presentation of Hickory's 2009 Milken rankings versus the rest of North Carolina:
What one sees is that the rest of North Carolina's Metro areas are coming back to the pack a little, but not severely. I would speculate that the one-year job growth trends are holding up in Raleigh, Durham, and Fayetteville, because of government jobs; everywhere else has trended down. Only Greensboro sees anything near the abysmal wage growth that we have here in the Hickory metro.
I would also venture to guess that Wilmington and Asheville are coming back to the pack, in the overall statistics, because the recession is having a negative impact on tourism, which is a major component of those area's economy.
The national trends show that 8 of the top 20 metros in the nation are in Texas. International trade with Mexico has had a major impact on the Texas economy, due to strategic location and the weakening dollar. On the negative side, out of the bottom 20 metro areas, 14 are in the Michigan-Indiana-Ohio corridor. That is a continuing trend that I have previously addressed, because Hickory is amongst these city's that are at the bottom of the statistics.
To get a good grasp on these statistics, you can look at the article Hickory - Time to put the Puzzle together. We can pretty much see that we are in the same position as we were last year, but we do see some promise in the infusion of monies related to the High-Tech sector. That is where the future lies and it looks like we are sowing the seeds towards that kind of future. That is promising.
I believe the key is the follow through. We have to make sure that these seeds are allowed to grow and we have to keep fertilizing them. I think energy and devotion towards these High-Tech goals are even more important than money. We all know what needs to be done, we just have to go do it.
Here are the rankings and trends since 2003:
Below is a presentation of Hickory's 2009 Milken rankings versus the rest of North Carolina:
What one sees is that the rest of North Carolina's Metro areas are coming back to the pack a little, but not severely. I would speculate that the one-year job growth trends are holding up in Raleigh, Durham, and Fayetteville, because of government jobs; everywhere else has trended down. Only Greensboro sees anything near the abysmal wage growth that we have here in the Hickory metro.I would also venture to guess that Wilmington and Asheville are coming back to the pack, in the overall statistics, because the recession is having a negative impact on tourism, which is a major component of those area's economy.
The national trends show that 8 of the top 20 metros in the nation are in Texas. International trade with Mexico has had a major impact on the Texas economy, due to strategic location and the weakening dollar. On the negative side, out of the bottom 20 metro areas, 14 are in the Michigan-Indiana-Ohio corridor. That is a continuing trend that I have previously addressed, because Hickory is amongst these city's that are at the bottom of the statistics.
To get a good grasp on these statistics, you can look at the article Hickory - Time to put the Puzzle together. We can pretty much see that we are in the same position as we were last year, but we do see some promise in the infusion of monies related to the High-Tech sector. That is where the future lies and it looks like we are sowing the seeds towards that kind of future. That is promising.
I believe the key is the follow through. We have to make sure that these seeds are allowed to grow and we have to keep fertilizing them. I think energy and devotion towards these High-Tech goals are even more important than money. We all know what needs to be done, we just have to go do it.
Friday, November 20, 2009
Just some thoughts about Current Economic Realities
"A Truly Extraordinary Slump": Reports of Robust Recovery Premature, James Galbraith Says. I know, I know. The sky is falling is what I will be accused of; but it is not what I am espousing. I'm just saying that we all need to be prepared for some extraordinarily rough times.
This is my opinion. The realization of what is already known by many will be brought to fruition in March 2010. At that time is when the numbers will be reported for the last quarter of 2009. Retail Sales for Christmas season will be reported and they will be horrid. The third leg down on the Adjustable Rate Mortgage collapse will take place, as these rates are reset and more people default on these loans. Finally, the first wave of the Commercial Real Estate bubble will hit, because of the retail slump brought about by the terrible Christmas sales, which is the time of year when most retail stores come to profit.
It doesn't make sense that the U.S. treasury has printed all of this cheap money that the people of this nation aren't getting any of. All we hear about is this Healthcare bill that you better come to understand is going to go through. It will be passed in this Senate this Saturday (or after a show, at least by the end of the weekend), then it will be reconciled into a monstrosity, by agreement of both Houses of Congress, and it will not be good.
Where is the bottom in the Real Estate market? If there are 10 houses for sale around me and I decide I need to move to a place where there are jobs -or- I decide I can't afford my house anymore, how do I sell it? What do I get out of it? Look at Detroit and some of the places out West. They are selling houses for pennies on the dollar. It is a buyers market, but the banks aren't lending. A true conundrum indeed.
The worst part is that the Financiers are able to take the money that has been printed and borrow it at artificially low rates of interest, set by the Federal Reserve, and invest it in foreign countries for a profit - (From Reuters: the Carry Trade). So the Wall Streeters and Foreign entities are profiting on free money that we, the American people, are going to have to pay the price for. Will the Financiers pay the price for the collapse of this bubble? Do they ever?
I ain't no Chicken Little, the sky is not falling. But American Consumerism is on its death bed. I honestly believe that whatever way you can be thrifty, you better start practicing those habits, because we are in for a ride.
This is my opinion. The realization of what is already known by many will be brought to fruition in March 2010. At that time is when the numbers will be reported for the last quarter of 2009. Retail Sales for Christmas season will be reported and they will be horrid. The third leg down on the Adjustable Rate Mortgage collapse will take place, as these rates are reset and more people default on these loans. Finally, the first wave of the Commercial Real Estate bubble will hit, because of the retail slump brought about by the terrible Christmas sales, which is the time of year when most retail stores come to profit.
It doesn't make sense that the U.S. treasury has printed all of this cheap money that the people of this nation aren't getting any of. All we hear about is this Healthcare bill that you better come to understand is going to go through. It will be passed in this Senate this Saturday (or after a show, at least by the end of the weekend), then it will be reconciled into a monstrosity, by agreement of both Houses of Congress, and it will not be good.
Where is the bottom in the Real Estate market? If there are 10 houses for sale around me and I decide I need to move to a place where there are jobs -or- I decide I can't afford my house anymore, how do I sell it? What do I get out of it? Look at Detroit and some of the places out West. They are selling houses for pennies on the dollar. It is a buyers market, but the banks aren't lending. A true conundrum indeed.
The worst part is that the Financiers are able to take the money that has been printed and borrow it at artificially low rates of interest, set by the Federal Reserve, and invest it in foreign countries for a profit - (From Reuters: the Carry Trade). So the Wall Streeters and Foreign entities are profiting on free money that we, the American people, are going to have to pay the price for. Will the Financiers pay the price for the collapse of this bubble? Do they ever?
I ain't no Chicken Little, the sky is not falling. But American Consumerism is on its death bed. I honestly believe that whatever way you can be thrifty, you better start practicing those habits, because we are in for a ride.
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