Here is an interesting article on the economic crisis. I suggest one takes the time to read this.
http://www.theatlantic.com/doc/200903/meltdown-geography
Richard Florida has always had some interesting ideas that I have found very interesting.
He does not look at things the same way most economists do, I'll guarantee that much.
I see the Tampa area as an area that will ultimately suffer for some time. They built and built homes for many years that were very expensive for the Florida market and I always wondered where all these people were coming from to buy these homes and where were these people working. Well the jobs and salaries were never here and now we are beginning to see the big decline. The economy here was built on the back of the home building explosion and there were no "real jobs" to support the continued growth. The real jobs I am talking about are tech jobs and things of that nature, not retail jobs that pay nothing but are needed to support an ever growing population. I may be wrong but I do not think so.
2 comments:
Interesting article; I will read the entirety later. One thing it mentions that some think will happen is the fall of the US as the world economic leader. I agree it is possible, but one thing economists do not take into consideration is people, because the educated money men cannot see past Euros, Yen and Dollars. What the US does have that the other money countries don't is 200+ years of deciding for ourselves what our fate will be. I hope the American people haven't become so complacent that they will allow world money markets to decide it for us. If the US should right this minute recall every dollar in the world by devaluing it, we as a nation would still exist. There would be chaos here and a long, hard struggle to return to anything close to what we once were, but most other nations would fall flat on their faces and never recover. Most of what they have now is through sacrifice of many American generation's blood and hard work. We all but rebuilt Western Europe and Japan after WW2 with our money; debts that mostly were written off over the years. We have the resources and the size, and if we can again muster the moxie, we will remain at the top of the world pecking order.
Just my off the cuff opinion.
Who knows what we would do? I am not sure what we would as a country to get things righted if it seemed we were on the verge of collapse. If that did happen the world would be in a bunch of trouble.
Post a Comment