Let’s Play A Game of Compare and Contrast

First this

Home foreclosures in Georgia are up. One of the state’s largest employers, Delta Air Lines, is freezing some hiring amid weak fourth-quarter results. And fallout from the state’s drought is still rippling through businesses, from landscaping to farming.

But Gov. Sonny Perdue on Tuesday said that the state’e economy remains strong.

18 comments

  1. Donkey Kong says:

    Yet another example of Bubba being out of touch.

    I think Dean Sumichrast will do a great job. That being said, he *did* come from LSU……

  2. GOPeach says:

    Okay we can all say who we believe and smirk at the ones we do not believe …but….

    Let’s be the THINK TANK! Instead of identifying the obvious – let’s use our critical thinking skills to offer solutions on this thread.

    I am really serious about this. This is not something to scoff.

  3. GOPeach says:

    Stephanie –

    Oh padon me, Hun –

    I thought I was on Blog for Democracy!…
    We could never get SOLUTIONS here!!!!

    I would have to be CRAZY to think such a thing.

  4. IndyInjun says:

    Seriously, a pretty good chunk of Georgia has appeared on several maps showing the hot spots with subprime mortgage exposure, so expecting no ill-effects is unrealistic.

    For those really paying attention “subprime” is an oversimplification of a systematic looting of this nation’s finances by Wall Street, the Fed, and the money center banks. The next shoes are falling in the areas of state investment pools, pensions, and insurance companies. After that the stock market will crash, wiping out $trillions in 401K’s.

    How much will Georgia and local taxes have to go up to make up for not only future revenue losses, but losses on their investments?

    This is not a pretty picture.

    GOP – You did a heck of a job.

  5. I wish the Georgia Reds would get over their obsession of painting everything Rosy Red, even when most all economic indicators are going in the tank without any water to flush it.

    Like we learned on post secondary fortune cookies, the Chinese word for crisis is opportunity, yada, yada and they will buy up even more Georgia and America stuff and force more Georgian’s to compete with third world prison labor, even if the Georgia economy slides like the rest of the nation.

    If Cousin Sonny had put his portfolio in a blind trust like most all of his predecessors, he wouldn’t have to mislead us as to the value of Georgia Real Estate during the we’ve only just begun submprime mortgage fallout crisis.

    Let the sucker fall, it’s free (not fair) trade. Plus, after we finish shipping all of our Military subcontracting jobs to China and analyzing how many U.S. Treasury Bonds China and the Middle East Oil cartel own, it won’t matter.
    They’ll own us, not so free and clear.

    The only reason the market is rallying now is the relief that Mid-East Oil money feels and is is therefore flowing back into the US because President Bush’s whacked out, pre-emptive strike, warful intentions toward Iran were exposed by third parties.

    So, if you like an economy based on war, Chinese prison labor and rose colored glasses, vote for more of the same from the party that brought us $3 per gallon gas and $5 per gallon milk, while continuing to spin the public by segregating the inflation numbers out of the CPI.

    A simple life is the best, vote red, buy a cow and a moped and you won’t ever be beholden to anyone…

    In the meantime, keep your eyes on the Pension fund, subprime ramifications yet to be revealed.

    Merry Christmas and happy Channuka…

  6. Donkey Kong says:

    Note of clarification: when I say hit the hardest, I mean in percentage terms. I do think the people who are the worst off are those who will lose their home because of the large jump after their rates reset in their ARM. Institutionally and in percentage terms, however, Wall Street is getting killed by this, and the credit crunch is only getting worse. All of Wall Street’s business is affected–their investment banking/advisory business, underwriting, and even trading businesses are grinding to a halt and taking losses. Not good news, especially for those working in the industry or college students trying to get a job in I-banking.

  7. IndyInjun says:

    Donkey – When this is over, $40 billion in losses might not even cover Georgia.

    Shoot….we are nowhere into this thing and the bank write-offs are already that much or more.

    An investment fund run by Florida has lost HALF of its value, leaving local governments without $13 billion of their tax revenue. Nearly all are in the same boat.

    The market says you are wrong because of the short term Treasury rates says that many are fleeing for safety.

    I understand that you wish to divert accountability from your industry, but the lend-to-distribute model was plainly and simply NUTS. The Fed and Treasury are having a hard time – if not an impossible one – trying to figure out who to bail out.

    If you are right, how come the Fed and Treasury rates are dropping when the jobs and GDP reports indicate a robust economy. Answer – they are in full panic mode at what the financiers have done to the financial system.

    Instead of using risk pools to spread the risks, they poisoned the whole ocean of finance.

  8. Rick Day says:

    Who do I believe? The one who does not have to deal with this when their term expires, that is the one I believe.

    Sonny reminds me of the Captain on the Titanic, urging the band to play on, in hopes no one notices the, uh, situation.

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