Nevada Blog Love: The Economy

Posted by Myrna the Minx on November 8, 2007 | Comments (2) | Trackbacks (0)

I just watched Steven Pearlstein (WAPO) and Kenneth Rogoff on NewsHour discuss the difficult job ahead for Fed Chairman Ben Bernanke who has to try and manage an economy that will probably experience both inflation and a recession at the same time; the falling dollar, the increasing cost of credit, the rising price of oil, all of these things are making for a very complex and dreary economic picture. When the Fed Chairman says that he hopes the credit and housing markets will be better by spring, well, hope might be all we have. And on that cheery note, let’s look at what Nevada bloggers are saying about our state’s economic conditions. The local blogosphere has been abuzz with discussion of about the state of the Nevada’s economy, and the state’s mortgage industry and housing market in particular.

First up, Downtown Makeover Dude’s tip on the positive sales report for The Belvedere condo project inspired a flurry of comments on Reno Realty. Most interesting is the number of buyers from Northern California who are probably investors taking advantage of the property’s rental service. The Belvedere has the capacity to function like a hotel/condo property in which vacant units are made available for rent for short periods of time.
This article in the New York Times didn’t do much to lighten the mood, but I’m sure the governor’s spiffy new website for Nevadan’s needing “foreclosure help” will, uh, help. Impressive effort, but maybe the, uh, simplicity of the site has something to do with the fact that Governor Gibbons isn’t very concerned about the growing foreclosure rate in Nevada–something that could prove devastating to the Nevada’s economy over the next year. Governor Gibbons did hold a meeting on Wednesday to discuss the dire state budget situation that has nothing whatsoever to so with the rising foreclosure rate (except for the projected drop in real estate transfer taxes and sales taxes of course).
But good news! The National Debt is at $9 trillion and Senator John Ensign made a proposal that would increase that amount by $1.5 trillion.

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Comments

Nevada is in a State of Denial with regards to the health of its economy. However, we are not alone. With a war to pay for and another on its way, states and their residents will be bleeding more loss.

Comment by NVMojo on November 11, 2007 @ 9:21 am

The ECONOMY needs money.

I can solve the economy problem and am wondering why no one else sees it as simple as I do.

This country needs a new market one that the US is very good at.

Well, what products do Americans export the most? I am not an expert but I see Coke Budweiser and Tobacco everywhere around the world.

We sell chemical mood enhancers around the world at superior product quality and for cheaper cost than anyone else in the world. We need to tap into the new market that marajuana could offer our farmers and this country.

We need a president that will step outside the box take a stand and recognize this opportunity to bring the US back to a top exporter, create jobs, help farmers and reinvigorate the economy.

There is a demand for this product. A product that is safer than alcohol and all natural with little need for addities or preservatives. You can grow it again and again fairly quickly like tobacco.

We sell caffiene, nicotine and alcohol all which have pluses and minuses, marajuana has them too and we have the best farmland in the world. We could be the top suppliers in the world on a global scale.

Imagine the possibilities if the tobacco industry got involved and started this market.

This country would be out of recession and a huge boost to the economy would occur and desperately needed jobs would be instantly created.

Guaranteed.

What are the reasons that these politicians deny this market that we could tap into?

We would have such a boost to the econmy we could fund universal healthcare like they have in every other civilized country.

This country was founded by people with a pioneering spirit. We need a pioneering president to break new ground open new markets and rejuvenate this country and get us to love it and believe in it once again.

Strengthing the home and heartland especially USA farmers would make this country strong.

Comment by nina on January 15, 2008 @ 4:21 pm

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