Pittsburgh's economy is hot!!!!! (Philadelphia, York: employment, school, to live)

[bradjl2009]

Originally Posted by Katiana

bradj2009, I would like to thank you for starting this thread which offered a good topic to debate. It sure beats talking about restaurants, etc.

Your welcome haha.

[Katiana]

Originally Posted by Humanoid

Its odd that you post an article about it yet misstate the facts again. The current deficit is about $11 billion, the projected deficit over 2009 is around $28 billion. Hence, why he is declaring a "fiscal emergency", so they can fix the budget so the $28 billion deficit will never happen.
<snip>

First of all, posting an entire article like this is a vilolation of the TOS (copyright violation). Also, this is a thread about Pittsburgh's economy, not about California's state budget crisis, which has to do with California government, not its economy per se.

[Humanoid]

Originally Posted by globalburgh

There is treading water and then there is drowning. But if there is some economic theory contending that economic diversification doesn't make a region less likely to drown, I'd like to learn about it. If you feel like explaining it to us simpletons.

I'm not claiming that "diversification doesn't make a region less likely to drown". I'm claiming that in depression like conditions its less important. Not that it doesn't matter, but that its less important. If everything is contracting in a similar manner (as happens in deflationary conditions), then diversification doesn't matter as much.

[globalburgh]

Originally Posted by Humanoid

I'm not claiming that "diversification doesn't make a region less likely to drown". I'm claiming that in depression like conditions its less important. Not that it doesn't matter, but that its less important. If everything is contracting in a similar manner (as happens in deflationary conditions), then diversification doesn't matter as much.

Why doesn't diversification diversification matter as much? Please explain. If anything, I can see how it would matter more. If you don't have the time or inclination to spell out the relationship, provide a citation and I'll go read about it.

[Humanoid]

Originally Posted by globalburgh

Why doesn't diversification diversification matter as much? Please explain. If anything, I can see how it would matter more. If you don't have the time or inclination to spell out the relationship, provide a citation and I'll go read about it.

I just said why. During a deflationary period (which we haven't really seen since the 1930's) everything starts to contract somewhat similarly. If everything is contracting at a similar pace then being diversified isn't going to do anything.

Having a diversified economy only helps when say a handful of industries are contracting while others are not. Like in the 2001 recession.

[globalburgh]

Originally Posted by Humanoid

I just said why. During a deflationary period (which we haven't really seen since the 1930's) everything starts to contract somewhat similarly. If everything is contracting at a similar pace then being diversified isn't going to do anything.

That's a BIG if. I haven't seen any indication that everything is contracting at a similar pace. I don't even think that was the case during the Great Depression. You'll find significant variance in just about any economic indicator you care to reference. Geographic variance is almost not worth mentioning because it is so obvious (e.g. economic migration during deflationary periods).

Unless you have some evidence to the contrary or some research that supports your position, your claim is untenable.

[Humanoid]

Originally Posted by globalburgh

That's a BIG if. I haven't seen any indication that everything is contracting at a similar pace. I don't even think that was the case during the Great Depression.

At the moment things haven't contracted in a similar pace, the majority of job loses have been real estate related. But that is starting to job and if we see a deflationary spiral it will continue to change. But this is a sliding scale. As the contraction in the economy starts to become more uniform diversification matters less and less. And that was my only point.

Originally Posted by globalburgh

Unless you have some evidence to the contrary or some research that supports your position, your claim is untenable.

Sure there is evidence, but this isn't the place to talk about it.

[Traveler87]

Originally Posted by Humanoid

In th current economy diversification doesn't really matter. Just as well diversified portfolios are getting killed right now, even areas with well diversified economies are going to get hurt. Personally, I don't think Pittsburgh's economy is that diverse. But even it it was, it doesn't really matter in this environment.

Also, just to note. In terms of technology nobody really cares about Pitt, its just your average university in this regard. Its Carnegie Mellon that attracts investment, grants and companies to locate offices in the area. Regardless, technology isn't growing right now. In fact, its rather weak because there was a smallish boom (so called web 2.0) that is now contracting.


Let me get this straight. You complain about people beating up other cities, but then you do the same. I guess you only care when people beat up the city you happen to live in?

Furthermore, I don't know why people keep bringing up the west coast, Houston or whatever else. All of us that comment in this forum that don't currently live in the area have in the past. And none of have said anything like "well X is so much better than Pittsburgh".

Its amazing that the people on this forum have such a problem with Pittsburgh ex-pats talking about the city.

You obviously have some problem with Pittsburgh, and thats fine, you can speak your opinion, but when facts come to facts, its the truth.

Houston and all the other places I named have no history or culture that Pittsburgh or Cleveland have. You can sit there and defend those cities, but why would you bash us for defending ours?

And how could you say diversification could not help you in today's economy??? Why then would high tech companies and other "new" jobs be hiring today, when older jobs that economies have stuck with for decades are now declining. Thats right diversification helps bring in new jobs, and keep unemployment rates down.

[Humanoid]

Originally Posted by Traveler87

Houston and all the other places I named have no history or culture that Pittsburgh or Cleveland have. You can sit there and defend those cities, but why would you bash us for defending ours?

Firstly, I haven't said anything about Cleveland. Secondly, I don't mind people defending Pittsburgh at all. But jumping on someone and calling them names for saying something negative about Pittsburgh isn't how you defend the city.

Also, I really don't know why you want to cut down Houston (have you lived here?) by saying it has "no history or culture". If you like Cleveland that is perfectly fine. But saying that Houston has "no history of culture" is pretty absurd. Houston was incorporated in 1837, not much later than Cleveland. And has a rich history and culture.

I'm really baffled by your comments here, you said:

"some few individuals decide to bash other cities to make theirs look better. Bringing Cleveland into the mix is so uncalled for."

Yet, this is exactly what you are doing. Why are you bashing Houston? Have you lived there? Have you stepped foot in Texas before?

Originally Posted by Traveler87

And how could you say diversification could not help you in today's economy??? Why then would high tech companies and other "new" jobs be hiring today, when older jobs that economies have stuck with for decades are now declining.

I already explained this. And the tech sector is contracting. Most major tech firms have announced major lay offs and more are coming. This recession is already worse than the last two which were relatively mild. At the very least you have to look back in the 70's to get an idea about what is going to happen....lets just hope we don't have to look past the 70's....

[AK123]

Originally Posted by Traveler87

Houston and all the other places I named have no history or culture that Pittsburgh or Cleveland have.

Houston is where Texas was won; if not for the win at the battle of San Jacinto (present-day east Houston), Texas would be part of Mexico today. There's a museum and monument for the event... the monument is one of the tallest in the country.

Houston was also the capital of the Republic of Texas for a short time, before the capital was moved to Austin.