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Politics : President Barack Obama
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To: John Vosilla who wrote (100755)9/4/2011 4:12:47 PM
From: tejek  Read Replies (1) of 149317
 
I think Bent's repsonse to you was about right.... I hate listening to constant negativity but what we've been through in Florida is a depression going on five years now because our economy was so RE centric and collapsed so much more than you in Seattle could ever imagine. If I had not prepared I'd be wiped out cause it was just like NASDAQ 2k crash. Why I get a kick out of teabagger types too going to 'save me now'.

First of all, the areas still struggling are ones like MI, Phoenix, FLA and Las Vegas. The statistics don't bear it out but LA and SF are back. The flippers are back in there doing their flipping like they always have. LA and SF know how the bubble game is played.

The thing is all four areas that are still in trouble..........MI, PX, FLA and LV......need to reinvent themselves. MI is doing it albeit very slowly. LV needs to find other sources of jobs than just casinos. PX and FLA need to come up with job creation other than housing construction. That's esp true of FLA........its a mature economy that sits on a two legged stool.........construction and tourism. Very dangerous. With all our industry in Seattle, I am freaked that we are so reliant on Boeing........still.

Frankly, I see the next ten years as a period of introspection for those four areas. Where I suspect we will see more prosperous activity is in the Midwest and to a lesser extent.....the former rust belt. They have cheap housing, cheap land and a very productive labor force. I think we will see more industrial development in those areas..........companies that don't want to go overseas. I think they will lead the American economy back.
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