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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