"What a great site! I'm impressed by the great stuff you've pulled together. It merely confirms my long-held belief that economics CAN be interesting....
All the best"-
Charlie Wheelan,
aka The Naked Economist
An interesting article on the diversity of the American economy, and the recession that may already be here in the aggregate.
4 comments:
Anonymous
said...
i found this article interesting. it's strange how some parts of the country can be sliding down the recession slide while others are experiencing times of prosperity. i think the differing economies of these states might have something to do with it. coastal states are more influenced by trade whereas inland states are not so directly exposed to themarkets and therefore revolve around a different schedule of events.
Well, Montana is doing well, that's great and all. Ya' know, for the 14 people per district that live there. (~997,195 overall, Suffolk county has ~1,419,369) Places like Montana, didn't have as heavy a reliance on industry or as great of a housing boom. They weren't as subject to the collapse that the rest of the nation felt. Even if these places are doing well, places such as California that are suffering, contribute a larger chunk to the nation's economy. So they outweigh the areas that are doing well and drag the entire economy down with them. And because the economy is in this sort of shape a good part due to the housing crisis, it prevents people from moving to find work.
Even though Montana appears to be doing "well" in this diamgram, it is really only doing RELATIVELY well... I am still convinced that the united states economy is on the verge of some disasterous collapse that will be so much worse than anybody could have anticipated...This is because our growth has been so great that we can no longer keep up with ouselves...As a nation, we spend more than we save. Something's got to give.
It is very weird that states like montana are prospering while better states (new york and its relatives in the north east) are not having too good of a time. I mean come on, we northeastern states can not let these minutely populous states do better than us. If these states pick up some momentum then more people will live there and in the most drastic of cases it will become so bad that instead of people not knowing where to find montana and the rest of those inland states on a map, someone might not be able to label the good states up in the northeast. Something is obviously wrong in the economy and hopefully a new administration in the white house next year will be able to do something about it. Until then, we just have to hope that our current leaders have enough sense to stop digging down and begin climbing up and out of this hole they have dug us into.
4 comments:
i found this article interesting. it's strange how some parts of the country can be sliding down the recession slide while others are experiencing times of prosperity. i think the differing economies of these states might have something to do with it. coastal states are more influenced by trade whereas inland states are not so directly exposed to themarkets and therefore revolve around a different schedule of events.
Well, Montana is doing well, that's great and all. Ya' know, for the 14 people per district that live there. (~997,195 overall, Suffolk county has ~1,419,369)
Places like Montana, didn't have as heavy a reliance on industry or as great of a housing boom. They weren't as subject to the collapse that the rest of the nation felt. Even if these places are doing well, places such as California that are suffering, contribute a larger chunk to the nation's economy. So they outweigh the areas that are doing well and drag the entire economy down with them.
And because the economy is in this sort of shape a good part due to the housing crisis, it prevents people from moving to find work.
Even though Montana appears to be doing "well" in this diamgram, it is really only doing RELATIVELY well... I am still convinced that the united states economy is on the verge of some disasterous collapse that will be so much worse than anybody could have anticipated...This is because our growth has been so great that we can no longer keep up with ouselves...As a nation, we spend more than we save. Something's got to give.
It is very weird that states like montana are prospering while better states (new york and its relatives in the north east) are not having too good of a time. I mean come on, we northeastern states can not let these minutely populous states do better than us. If these states pick up some momentum then more people will live there and in the most drastic of cases it will become so bad that instead of people not knowing where to find montana and the rest of those inland states on a map, someone might not be able to label the good states up in the northeast. Something is obviously wrong in the economy and hopefully a new administration in the white house next year will be able to do something about it. Until then, we just have to hope that our current leaders have enough sense to stop digging down and begin climbing up and out of this hole they have dug us into.
Post a Comment