Where Do You Think The Economy Is Going?

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...or bad for you? In our local economy we depend quite a bit on the spending from these "Big 3" employees. How much do you think Northwest Ohio's population will shrink if we lose our automotive industry? From what I understand the lose of the "Big 3" will ripple through the automotive suppliers, and that will in turn affect the non-union plants. Perhaps they can keep going with supplies coming from other countries to keep their assembly plants going.

Do you think that the local solar panel plants will make up the difference? Or (like me) do you wonder why they even set up shop here, and will leave as soon as another state or local government gives them a better deal?

Old South End Broadway

This has already started "rippling through" the suppliers. I know a number of people who work for different suppliers in the area. There are layoffs, shift eliminations, monthly shutdowns.

You may have seen a recent letter-to-the-editor in the Blade from a former Toledoan now in the state of Oregon. If I am not mistaken, he and his wife lost their jobs here, and immediately found gainful employment there...If the local economy shifts further away from manufacturing, people will have to move to more prosperous areas/or areas with right-to-work legislation to find even service positions. Go where the people are. More people=more tax revenue/lowertaxes=better services=nicer communities.

The problem with the solar companies is that they can't draw people here to do the jobs that require actual education/training/experience.

I know someone who lives in another major city who was contacted about a recruiter regarding an open position with one of the solar companies. The recruiter told her that the only reason the position is unfilled yet is the location...pay is great, job description is great, etc. I believe the exact quote was "if this position was in any other city, I would have filled it instantly." Apparently they couldn't recruit any qualified local people, and they are having trouble convincing anyone with the right qualifications/experience to move here.

Some people laugh about the whole "brain drain" thing. However, if recruiters can't fill all the professional/technical jobs, then the support jobs will go away too. That's what scares me about banking on the solar companies as the region's redemption.

A Reession That Will Linger for Years (That Can Be Blamed On the Liberals)

WTF?

What we are witnessing today is the logical conclusion of conservatism…

...to blame a catastrophe on someone. Given the conservative nature of this audience who do you think would be blamed? Bush?

Old South End Broadway

Sure, Bush and the Republicans... where it belongs.

Obama is talking about putting $1 trillion into the economy. This deficit spending has to come from somewhere. If those people who are buying bonds (citizens and foreigners) decide this country is no longer a good investment who do you think will be blamed? Not the party who has eight years of deficits, but the party that is in power then. It's human nature. Blame the guy that's there now, not the one who screwed up for eight years.

Old South End Broadway

Perhaps we can continue to grow our "national debt" through "deficits" until we develop new industries that will provide the new revenue to pay down the national debt. I do not think that will help our local economy, but at least the kids will still have a future in other places. My brother says that out West it is still booming (or it was when he was there late in the summer). If you choose the right company to work for, and invest in, you might grow a nest egg that will allow you to retire. For the rest, it is just hard luck.

Old South End Broadway

....were the CEOs will grow the company, sell off the assets, raid the 401(K)s, and retire to an island paradise. The rest of us will inherit what is left.

Old South End Broadway

I don't like these narrow-optioned surveys. You have no option for my view:

We're going to be in a Great Depression for a full half generation (12-17 years). Homelessness and lawlessness will become too common, and will feed on each other. The middle class will shrink by a full 50%, with 95% of those lost members falling into the category of "working poor". Home gardens will make a big comeback, only as a necessity.

Getting arrested by an ever-more-corrupt police force will also become common, but since the jails won't afford to run on such a huge influx, these arrests will just accumulate on one's "record" as you just pay a fine (which is all the system cared about anyway) and hit the street.

And finally, about 5-8 years from now, people will STOP laughing at the people who save money, repair their own stuff, and live simply. But the denial about the merits of frugality and self sufficiency will be HEAVY until then. Even as millions of Americans lose their credit cards, they will STILL look down their noses at the people who also lost them.

America will deserve all of this, and more. We're STILL attacking the people who save money and try to sanely perform personal tasks at a minimum of expense. Bernanke has lowered interest rates to yet another historical low, and on the advent of a Depression, that's pure stupidity. Of course, Bernanke isn't actually stupid, since he's just acting on behalf of all the lenders; no, the stupidity is embedded in the general population that either doesn't understand this crime, or tolerates it in the first place.