Colorado...slated for an early recovery????? (Colorado Springs, Pueblo: 2009, credit, loans)

[CosmicWizard]

According this article Which states will be early risers?, Colorado is predicted to be one of the states to recover first.

NEW YORK— If you want to be in the right place when the recovery starts, that place may be in Colorado, Idaho, Oregon, Texas or Washington.

The recession didn't start at the same time in every state, and it won't end at the same time either. A new forecast from Moody's Economy.com predicts that jobs growth will return first in those five states, starting in the last quarter of this year.....Bill Dedman

[2bindenver]

early? It's never too early to recover. I think Colorado is overdue, and therefore late!

[Mike from back east]

Moderator Speaking.

Let's all keep this thread specific to Colorado and it's economy. Off-topic posts will be deleted, with warnings and infractions as needed.

[jazzlover]

I love to read these "feel good" stories that seem very detached from reality. Of course, this is from Moody's Economy--I believe that is a subsidiary of Moody's--that would be the bond-rating company that was giving AAA ratings to bonds (now pretty much worthless) backed up by those toxic waste loans, CDO's, etc. that helped get us into this economic mess. Hmmmm . . .

Aside from that, I'm still trying to figure out how "high-tech" is going to lead us out of this recession/depression. Are cash and credit poor consumers going to suddenly go hog wild and buy high-ticket computers, big-screen TV's, etc.? Are businesses that are barely able to keep their doors open
going to spring for all new computer equipment and the like? (I know the organization I work for has already put any big ticket IT and computer purchases on hold for at least 18 months and probably for 2 years.)

The people I know in Colorado who work in high-tech are scared ****less about being able to keep their jobs; they are hearing nothing about "expansion." This wonderful recovery Moody's is talking about would be real news to them.

As for the other sector of the Colorado economy the article mentions--energy--every day brings stories of more layoffs and more shutdowns. Yesterday I was at the offices of one of the western Colorado energy companies. Close to 100 people were working at that particular facility a year ago. Yesterday there was one receptionist, one foreman, and one manager left there. Even if energy prices ramp back up this year--and I think they will--my guess is it will take a lot of these outfits 18-24 months to get back to where they were. They are real gun shy now.

I suspect the same ilk of numbskull "journalists" wrote this drivel as the ones who said a year ago that there would be no recession. Not to put too fine a point on it, but read what I was saying back in '07 on this forum and read what a lot of those folks were saying back then. Who was right?

[CosmicWizard]

Obviously you were right! How many gold stars do you want?

The numbskull "journalists" writing this drivel are entertainers. Just like weathermen, they can be wrong most of the time and still keep their jobs. Gotta remember, to these guys, writing about the economy is just entertainment! There's probably some truth in this article nonetheless, but we'll have to wait and see just what it might be.

[Josseppie]

Originally Posted by 2bindenver

early? It's never too early to recover. I think Colorado is overdue, and therefore late!

I agree!

[DOUBLE H]

Regarding the western slope and the energy companies, Jazzlover is right. This area has taken a big hit with Halliburton and the other energy related companies experiencing a big slowdown. As this area was the last to experience hard times, this area will be the last to recover. Several employees in my neighborhood are drawing unemployment right now, but they love the area and want to stay here, hoping things will pick up. To conserve their unemployment benefits, they are taking whatever work they can find on the side. 18 to 24 months might be about right, for now anyway.

[sterlinggirl]

It doesn't look like things are getting better.

The Pueblo Chieftain :: Trane accelerates layoffs

The Pueblo Chieftain :: Local Home Building Nears Historic Lows

[Josseppie]

Originally Posted by sterlinggirl

It doesn't look like things are getting better.

The Pueblo Chieftain :: Trane accelerates layoffs

The Pueblo Chieftain :: Local Home Building Nears Historic Lows

This was not a good news day in Pueblo. Can't spin that one..

[Bob from down south]

I was in a Colorado Springs, Colorado Best Buy yesterday, and while I was doing some geeking out Colorado style in the electronics department, I noticed that they have *really* reduced the variety of the monitors and other computer stuff they keep in stock, with no more of the high-end 26" stuff for example.

I later stopped by the Colorado Springs, Colorado Costco and they have also dropped most of the monitors, with nothing bigger than 22" on the shelf there.

So while I was driving up the Colorado Highway in my vehicle (which has Colorado plates and a lot of Colorado dirt on it) I did some Colorado-style thinkin' along the lines of my favorite old Colorado curmudgeon Jazz, and thought that maybe if Colorado Springs, Colorado is any indication, that tech isn't making nearly the comeback that the news media outside Colorado (but who secretly wish they were in Colorado Springs, Colorado) would have us Coloradoans believe.