Honest to goodness, I dreamt about the economy last night. I was part of "thinktank" coming up with ways that businesses can increase trade. I don't remember if I came up with any spectacular ideas, but when I woke up at six o'clock to do some exercises before breakfast, I was honestly happy the alarm clock worked.
Then this morning on one of the early morning news channels, I heard that a number of large national equipment manufacturers were laying off thousands of employees. That was followed by the announcement by Sprint that it too was laying off thousands of employees.
The morning paper had a story about many homeowners with a mortgage and without a job who are likely heading to bankruptcy court unless Washington lawmakers can figure out a better plan.
So where's the light at the end of tunnel? I wish I knew.
Luckily, I live in a state that has been insulated from the worst of the nation's economic woes. With the exception of Melroe -- the makers of the Bobcat steer loader -- there really hasn't been any wholesale layoffs. And at least some of the 150 former Melroe employees have been hired by contractors who look to have steady employment for the foreseeable future in retrofitting the existing seven power plants with more advanced air emissions controls. There's about a billion dollars worth of work that's been announced in the lignite industry alone for the next four to five years.
Couple that forecast with the major drilling plans of several oil exploration companies in the Bakken Formation, a large, deep formation that is reached by horizontal drilling and two of the state's "bread and butter" industries appear to be well set to offer good paying jobs to many of our state's residents...and perhaps some newcomers as well.
Both the oil and gas and lignite industries are also major tax payers in North Dakota so the state's budget, which right now is experiencing a record surplus, looks to be healthy. This means pay raises for state employees and teachers at colleges and public schools. Other states, including neighboring ones to North Dakota, are preparing to cut the number of teachers and the curriculum choices they offer. So once again, our state looks financially healthy.
All this at a time when other parts of the country are reeling. So is it all rosy in North Dakota? Certainly not. Cattle prices are depressed, which hurts our ag economy. However, compared to others states -- like Minnesota and California, North Dakota seems to be weathering the recession/depression better than most. And lower cattle prices mean I don't have to pay as much for the next shipment of beef for my freezer.
Perhaps, after having written this, I'll be able to sleep better tonight. How does my view compare to what you are seeing?
Recipe - Aunt May's Famous Wheatcakes
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Now Playing - Forever Young by Alphaville RECIPE: MAY PARKER'S FAMOUS
WHEATCAKES Originally made by my pal Pete's Aunt May, these wheatcakes are
a great...
10 years ago

