Wednesday June 2, 2010 | Economic Forecast

June 1, 2010 at 1:36 pm | Posted in Coming Up | 8 Comments

UNC Charlotte Economics Professor John Connaughton joins us for his quarterly forecast of the region’s economy. The recent plunge in the Dow and failing banks all over Europe are impacting the economic recovery here in America. Dr. Connaughton will trace the struggles in Europe to the struggles of the Dow and how the economy of our region will be impacted by both issues. Join us for the latest on Charlotte’s economic forecast and beyond.
Dr. John Connaughton
– Professor of Economics, UNC Charlotte and Director of The Economic Forecast

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  1. 206 years = 1982 = Ronald Reagan = fiscal conservative = LOL!

  2. Prof. Connaughton just hit the nail on the head.

    The mass-mechanization of labor has made millions unemployed; in other words: the machines took our jobs!

    “The tempo of the industrial life is fast, but that is not the worst of it; it is accelerating. The ideal is not merely some set form of industrialism, with so many stable industries, but industrial progress, or an incessant extension of industrialization. It never proposes a specific goal; it initiates the infinite series. We have not merely capitalized certain industries; we have capitalized the laboratories and inventors, and undertaken to employ all the labor-saving devices that come out of them. But a fresh labor-saving device introduced into an industry does not emancipate the laborers in that industry so much as it evicts them. Applied at the expense of agriculture, for example, the new processes have reduced the part of the population supporting itself upon the soil to a smaller and smaller fraction. Of course no single labor-saving process is fatal; it brings on a period of unemployed labor and unemployed capital, but soon a new industry is devised which will put them both to work again, and a new commodity is thrown upon the market. The laborers were sufficiently embarrassed in the meantime, but, according to the theory, they will eventually be taken care of. It is now the public which is embarrassed; it feels obligated to purchase a commodity for which it had expressed no desire, but it is invited to make its budget equal to the strain. All might yet be well, and stability and comfort might again obtain, but for this: partly because of industrial ambitions and partly because the repressed creative impulse must break out somewhere, there will be a stream of further labor-saving devices in all industries, and the cycle will have to be repeated over and over. The result is an increasing disadjustment and instability.” –

  3. Concerning taxes, please address the issue of plumbers, carpenters, electricians not paying their ‘fair’ share of taxes. Usually, when I hired someone, they wanted cash or the check made out in his name. I know these people are avoiding taxes. Many times I make the check out to the business anyway, for my tax records, and it usually lead to an objection and an argument.
    The State of North Carolina has lost millions and millions of dollars by these people not paying taxes. I had this situation less than 2 years ago, here in Shelby.

    What is it going to take to get NC to ‘GO AFTER THESE FOLKS’?

    Annie Jones

  4. Annie Jones: You must be the kind of person who hires the most desperate lowest bidder. I’ll bet you got some crappy thrown-up work too. How dare you lump all skilled tradespersons into one category. What are you anyway?
    Do the math: could they even afford lunch on what you were willing to pay, let alone taxes?

    Realist sings the same old song post after post… seems unable to learn anything new, just projects the past onto the future… must reject change.

    John Connaughton is a cheerleader and Mike is holding the megaphone. Our State! Our State! Let’s put out some ogre bait. Lower business taxes, then you wait, wolves will treat our sheep so great! (Oh well, another culinary show.)

    Two things people are not allowed to think:
    1.Rewards in society should go to the ones who improve life quality for all, not those who despoil our only environment. Hoarding and wealth are two different things.
    2.Who does the dirty work depends on the job description, how work is defined and apportioned. Nowadays a few expendable victims are assigned as much of the deplorable tasks as possible. A good work rule is that in an organization no one is above reponsibility for the lowliest or most mundane task, especially if that task is vital or necessary. Remove the wealth hierarchy and one person is about as good as any other.

    Question: Why is it that only Deacon Clacum can sub for Mr. Mike? I know I’d like to hear Erin Sutton or Tim Ross interview Admiral Thad Allen or Lady Ga Ga. Sixty-somethings will not live forever and the fish is rotting from the head. Take the cheerleaders for instance…

    • Aside from the “greater good” theme, I agree with Mr. Howard. I shovel horse poop every Tuesday and embrace it. I could hire someone but it keeps me real. Who was it that advised doing something you don’t want to do every day? If everything is peachy the sweetness disappears.

      • Hire me! I am young, in good health, and pretty strong, and my current office job depresses the (horse)sh*t outta me.

        I’ve always wanted to work on a farm and/or ranch – the last couple of years I even posted a few times on CraigsList looking for farm/ranch work, but to no avail because I am not an illegal Hispanic willing to work for starvation wages.

        At heart I am a (Southern) agrarian and pastoralist yet I’m utterly stuck in boring bourgeoisie suburbia. Can you help me escape Mr Smith?

  5. Economic Forecast? Cloudy and stormy, slouching toward Brazil.

    2nd world here we come!

  6. Mike,
    The flaw in all economic discussions is that we can buy our way out of this recession which is how we got into this. So the measure is not how the merchants are doing at Christmas which by and large benefits China and SE Asia not our local economies, rather the measure is what new programs and industries are WE developing to employ our folks.
    The way through the recession is not consumer spending. Bringing new training and education to meet the needs of new industries and professions on the horizons will help. Investment by state and local governments in services and creation of new industries will help lead us through. It will take longer but be more sustainable in the long run.

    Also please stop referring to “Cutting Medicare” which is a scare tactic. Speak of increasing deductible and raising the retirement age. Language matters.


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