I live near an industrial shipping port in South AFrica and about mid February everything turned and started picking up momentum. Space in buildings is being taken up rapidly and production is improving again with more import and export taking place.I think I'm glad to report that things are returning to normal, but at a faster rate than people worked last year.Hope it continues.
Whats it like in your city.
In the nearest city to me more and more bars, hotels and places of entertainment are closing. I live near a European holiday resort, a place that was a mere sleepy fishing village until it became inundated with tourists searching for a cheap seaside holiday in the 70s.
The town rapidly expanded during the 70s and 80s to accommodate the influx of tourists with new building works becoming part of the landscape. Loads of locals got rich overnight by renting their apartments out to tourists, or selling their land to construction companies. Then they got greedy. Between them and incomers who put out their own money to buy rental accommodation, prices went through the roof, as did rentals.
Then the bubble burst and we are left with half finished building works, apartments, whole blocks of them, that are empty year round, people going out of business creating yet more empty accommodation, unemployment figures sky high, every government department chasing every debt through whatever means they can including house repossession,personal posesssion and bank acount sequestrations. High unemployment figures.
I'm not seeing any signs of recovey whatsoever.
However I am glad to hear that things are picking up in your part of the world
IMHO, people have to take lessons from China. Actually, they were those who always tried to pick up the best of others'. Nowadays, they prove to be the most economically agile in crisis time.
I wish I knew Dale. The local residents are all doing exactly the same things they were doing when the global slump kicked in. Still smiling too.
No closed business, no empty shops, cafés, restaurants. All looks just the way it did before.
"take lessons from China"
You mean like these:
http://www.hrw.org/en/news/2007/08/01/c … r-olympics
"China has a well-documented history of serious human rights abuses, including widespread torture, censorship of the media and internet, controls on religious freedom, and repression of ethnic minorities in Tibet and Xinjiang."
Red China... the land of the free?
Where people are told what they can do and how they can do it? Where the Government kills anyone that tries to speak up for what is right? Where medical care and jobs are allocated by the Government?
Where a very select few live in luxury while the rest toil for next to nothing.
Are these the people that we should "take lessons from"?
What's next... lessons from North Korea?
by fishskinfreak20087 years ago
http://news.yahoo.com/s/nm/20100122/ts_nm/us_obama"Let me dispel this notion that we were somehow focused on that (healthcare) and so as a consequence not focused on the economy. First of all, all I think about is...
by uncorrectedvision5 years ago
What was my title? I thought about it and decided that Paul Krugman was the real point of this forum. I do know something about economics, politics and Paul Krugman. I know very little about the...
by GA Anderson3 years ago
I stole this from another thread, so the topic could be discussed without further hijacking the thread it was on. I hope that was OK.John, I am not putting forth criticisms for you to defend. I do not know enough...
by uncorrectedvision5 years ago
If not the most often touted, misunderstood piece of government disinformation is the unemployment rate. It does not represent those who are not employed or those who would rather be employed than...
by Cassie Smith5 years ago
I can't wait for the Obama Administration to spin this one. Did they say something about the economy recovering?
by tobey1005 years ago
There is no doubt Obama believes in Government with a capital 'G'. At last count the Obama administration has added 123,000 federal jobs during his tenure. His philosophy is the Government can solve all...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.