Monday Open Thread

“Perpetual optimism is a force multiplier.”

–Colin Powell

12 Community Comments, Facebook Comments

  1. MichaelBowman says:

    Local residents living in oil-dependent counties experienced long-term effects following the oil boom and bust of the 1980s
     

    On average, the incomes of boom households increased by $5,000 dollars annually during the early years of the 1975-1979 oil boom and $6,900 per year during the later boom of 1980-1984, compared with similar households in counties that were not producing oil. The subsequent bust, however, reduced household incomes on average by more than $8,000 annually from 1985 to 1992. These losses were driven in part by increased unemployment and the dissipation of relative wage gains during the boom. 

    • Duke Cox says:

      I recall the couple of times, back in 2005/2006 when, as a local homebuilder, I was invited to lunch at the bank for a "business roundtable".

      It turned out, the reason for the occasion was for the local oil and gas industry people to convince the local business community that they would be rolling in money if they just get on the O&G money wagon and let them do as they please.

      Of course, they did not mention the damage and expense they would inflict on the community.

      I did. I was not invited back.

  2. davebarnes says:

    Today is National Chocolate Cupcake Day 

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