A look at Florida's economy (Miami, Fort Lauderdale: credit, budget, condos)

[chisoxfan]

Interesting story from today's Fort Lauderdale paper, and a must-read for anyone concerned about Florida's economic future:

Florida must cultivate new industries, Chamber of Commerce study says




Florida residents have to push for a more sophisticated economy or risk being trapped with low wages in a high-cost state, according to a study released Tuesday.

The state has the resources to transform its economy, according to the pro-business Florida Chamber of Commerce Foundation, which commissioned the study as a follow-up to a report in 2003.



The 60-page report is available on the Internet at Florida Chamber of Commerce. or by calling Carvajal at 877-521-1230.

[bale002]

tallrick and I, and a few others, have been saying this for months.

What took the Chamber of Commerce so long to say what any critical observer can figure out for himself?

One major aspect of the problem is credit/interest rate policy and inflation: savers/investors do not have clear signals on where and how to allocate resources to the most productive enterprises, hence speculative bubbles like housing, energy-guzzling housing in an era of rising energy prices, not a very productive strategy.

Unfortunately we will be getting more of the same, now and for the foreseeable future, regardless of which head of the two-headed monster is at the helm.

I don't think the Chamber of Commerce has enough influence to effect a change of course at the state level either, it would take a broader grass-roots swell, assuming easily misled people can overcome their own profligacy, which is then reflected in the nincompoops that some of them bother to go through the motions of electing.

But thanks anyway for the reminder.

[sunrico90]

What are the options?

Should it be by regions?

[bale002]

Originally Posted by sunrico90

What are the options?

Should it be by regions?

Options for what, Sunrico?

If we are talking about options for changes in economic policy, I would begin with local government spending, so I think that means at the town and county level, meaning the formation of grass-roots pressure groups, watchdog groups, taxpayer groups, voters groups that scrutinize town/county budgets, the tax assessor's office and the assessment process, the insider dealings of town/county officials, etc.

The problem with such groups is that, once they gain any success, they are easily infiltrated and corrupted. But it may be worthwhile in an attempt to affect some change since it is all cyclical: some progress can be achieved in the early stages.

Or maybe you are referring to something else?

[sunrico90]

Originally Posted by bale002

Options for what, Sunrico?

If we are talking about options for changes in economic policy, I would begin with local government spending, so I think that means at the town and county level, meaning the formation of grass-roots pressure groups, watchdog groups, taxpayer groups, voters groups that scrutinize town/county budgets, the tax assessor's office and the assessment process, the insider dealings of town/county officials, etc.

The problem with such groups is that, once they gain any success, they are easily infiltrated and corrupted. But it may be worthwhile in an attempt to affect some change since it is all cyclical: some progress can be achieved in the early stages.

Or maybe you are referring to something else?

No, you answered the question... "The problem with such groups is that, once they gain any success, they are easily infiltrated and corrupted." Will they be a way to check & balance something like this?

[bale002]

Originally Posted by sunrico90

No, you answered the question... "The problem with such groups is that, once they gain any success, they are easily infiltrated and corrupted." Will they be a way to check & balance something like this?

In and of themselves, no, the checks and balances must be enshrined in the constitutional system and the statutes.

However, if citizens are not vigilant then those who occupy positions of power can, over time, circumvent the checks and balances enshrined in the legal system. This is the stage we are at now.

Grassroots movements, by their nature, are temporary, with progress being achieved in the early stages (look at the life-cycle of a grass plant, about eight months?), serving to restore checks and balances. If a grassroots movement survives beyond its original purpose, it becomes an organization, with all that the term implies in terms of human behavior.

These are broad-brush concepts. I would love to read the concrete views and proposals of the Florida forum members.

[Wild Style]

1. thank you for posting this

2. so that report I heard on NPR is true, there is a flight out of Florida

3. People realized Florida needed to diversify its economy after 9/11. We are tourism based and when people stop traveling our economy tanks.

4. foreign investors are declining and so is foreign visits to the state. There goes Miami's theory that people are going to go buy up all those condos (not good)

I am trying to think of private sector markets Florida could possibly get here to help fill in the gaps but I can't. What can we offer over Texas, Atlanta, Nashville etc. to get business here. I am not really sure on this one. Maybe try cultivate a relationship with China, that would help.

[JSnFla]

florida is a disaster......the population is turning into that of a third world country while the cost of living skyrockets the remaining professionals are fleeing out of state for a plethora of reasons. the state is a mess

[bale002]

Originally Posted by Wild Style

Maybe try cultivate a relationship with China, that would help.

The Miami Chamber of Commerce already has a China initiative.

So what? Along with quality, one of the major issues in the global economy is to be price competitive.

Florida leadership became too complacent, even arrogant, concerning the "quality of life" card and let prices runaway.

Florida must restore its price competitiveness, that would also attract business investment, and one of the first places to begin is with local government spending.

There are plenty of cutting-edge business sectors and niches where Florida could develop competitive advantages. Visit ebusinessflorida.com (broken link) for details.

The problem is that these policy suggestions too are written up on paper, well digital paper nowadays, but if local government is not working efficiently, then these suggestions are not worth the digital paper they are written on.

The question is, would a series of grassroots movements restore discipline to government spending, or would it be another waste of time?

[Wild Style]

Originally Posted by bale002

The Miami Chamber of Commerce already has a China initiative.

So what? Along with quality, one of the major issues in the global economy is to be price competitive.

Florida leadership became too complacent, even arrogant, concerning the "quality of life" card and let prices runaway.

Florida must restore its price competitiveness, that would also attract business investment, and one of the first places to begin is with local government spending.

There are plenty of cutting-edge business sectors and niches where Florida could develop competitive advantages. Visit ebusinessflorida.com for details.

The problem is that these policy suggestions too are written up on paper, well digital paper nowadays, but if local government is not working efficiently, then these suggestions are not worth the digital paper they are written on.

The question is, would a series of grassroots movements restore discipline to government spending, or would it be another waste of time?

Look at what China and Atlanta are doing and you will see what I was talking about.