Are We In A Bubble?

Talking to people around town, there is some disagreement on the state of the economy in Eastern NC.

It's hard to have a conversation these days without talking about the economy.  Everyone wants to know how everyone else's job or industry is doing, and rightfully so.  We are seeing some changes, possibly permanent ones, to the way the world works. 

We have seen some amazing headlines from around the country.  For example, 700 people applied for a janitor's job at a high school in Perry Township, Ohio.  Dozens of people a week are pitching tents in a "tent city" in Sacramento, California.  The Dow has a massive rally Tuesday, but still settles bellow the 7,000 mark. 

We have seen layoffs in Eastern Carolina this year. In January, MasterBrand Cabinets in Kinston announced 170 jobs lost.  In February, Domtar in Plymouth announced 185 people would lose their jobs.   There have been others; there may be more to come.

People around town have varying opinions.  I spoke to one business owner in Greenville this week who thinks the media is a big reason people think the economy is so bad.  I have spoken to another friend who thinks anyone who thinks the economy is going to rebound this year is fooling themselves.  

It's impossible to tell who is right, but let's hear what you think about the economy, specifically, the economy in Eastern Carolina.  Are we in a bubble? 


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  • by Ron Location: NC on Jul 9, 2009 at 11:50 AM
    I really don't believe the economy is going to rebound this year or will NEVER get back to what it was. When you look at all the variables...there is just no light at the end of the tunnel. The greed factor hasn't changed, so the rich get richer and the now the middle class will become a part of the poor class. There are just too many things in our country that would have to be changed before we ever see that light and I just don't see it happening.
  • by Tad Location: Jamesville on Apr 12, 2009 at 09:08 AM
    Heather, half the people in this area only think about themselves and are therefore too greedy to care about the economy as a whole. The other half of eastern North Carolinians don't understand what you are talking about.

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