UnderReported No More

Here's what is not necessarily a scoop. The signaled GREAT DEPRESSION of 2008 --- Johnny Rabbitt Junior's blog of last spring (http://1430dj.blogspot.com) --- is clearly here, with the news that jobless claims are at a 16-year high. In case you don't read those with interest, perhaps you will once someone in your company has felt the need to inform you that your position/job is in jeopardy of being eliminated within the next several months. In addition to the jobless claims numbers, network newscasts this morning talked about some analysts thoughts on the current economic "recession" lasting until next summer --- 2009.
This is not good, is it?

Adding to this is the news out of the Philadelphia Federal Reserve office. Quoting Associated Press (via Yahoo!): Meanwhile, the Philadelphia Federal Reserve said regional manufacturing continued to weaken in November. Its index of manufacturing activity this month fell to its lowest level since October 1990.
That makes me glad I live in the midwest --- I suppose. Except that manufacturing here is generally just as bleak as in the east - with producer costs are up and pricing is down, which we have seen happen in many sectors.

Will the hoped-for economic upswing begin in earnest sooner than next summer? That hinges largely on the banks doing something risky, which many would argue is what got us in the current economic mess in the first place. Oh, if only it were that simple, then we may have had some of the answers as to how and, perhaps, WHEN it will get better. But, it is not that simple, and the answers may not come from the larger banks soon enough.

Most who follow economic and business news will tell us that the small business is what kicks the economy into positive territory. So, actually, it IS the banks that DO something "just risky enough" and LOAN MONEY to NEW BUSINESS start-ups which will HELP the economy.

Questions: Will banks in St. Louis LEAD this trend? Or, will the St. Louis area CONTINUE TO DECLINE because banks will sit on the money they have and will receive and NOT lend to those who can employ those who need work?

I'm going to state this as plainly as I can: should the banks in St. Louis LEAD THE CHARGE to lending, and there is sufficient businessmen and businesswomen, then this market --- with all the advantages of location - location - location, as well as the available office space, employment base availability, cost of living level, even fuel supplies --- could become a TOP 10 CITY AGAIN!!!
No, I am not saying it will happen. I am saying IT SHOULD HAPPEN.

Who will lead the charge? Well, if not one other person will step up and take the microphone on the podium and make this announcement to the people of the metropolitan St. Louis region who need to make these important decisions, please believe me when I say --- I WILL.

Is anyone OOOOUUUUUUUUUUUUUT THHHHEEEEEEEEEERRRRRRRRRRRRRRRE?????

Comments???