Sunday, April 20, 2008

Here's Some Signs That the Economy Isn't As Bad As You May Think..

Cheer up, folks! The sky is not falling, we are not in a major ecenomic recession, especially here in the Palmetto State. Let's give you a couple examples, one on the national level, and another locally.

The juggernaut that is Google continues on, exceeding expectations by grossing $5.1 B , and making a net profit of $1.3 this past quarter. It's no surprise... Use me as an example. My blog is part of a subsidiary of Google, and like most people, I search almost everything with Google. The news sent Google stock to jump 17% in a day to $525 a share. Pretty hefty, yes, but it is still making money at a record pace.

While blaming other countries may be an easy target for job losses, the fact is that only 3% of all losses are due to exporting of labor. Most of them are from domestic failures, and they eventually get replaced by another expanding business that innovates and succeeds. And that's what is going on here in Florence.

The SC Dept of Labor announced that the unemployemnt rate in Florence County has dropped to 5.9% - about 3 full points less than a year ago. The work by business and local government to make Florence a more attractive place to build a business has succeeded, and the area is now reaping the benefits.

So, instead of being negative all the time, we need to realistically look at how things are, and just focus on how to fix the little problems, and not magnify them for political gain. Things are okay - not pefect, but okay. Employment is decent, except for a few overpriced areas, the real estate market is solid. If we can figure out how to lower gas prices, I think we'd be in pretty good shape.



bobby said...

dude...the economy SUCKS!!! quit trying to stick up for Bushy boy and your party. I know you don't have to go to the gas station every day for your job, but I do...$60. to fill up a Toyota Camry is re-fuckin-diculous! At the rate things are going I have about $5. more every week coming out of my pcket and that shit adds up!

Mike Reino said...

If gas were cheaper, I don't think you'd have a beef, Bobby. Aside from that, things are pretty ok here. I'm dumping more in my tank than my refrigerator too, but gas is a market driven item. There's not much the gov't can do.