Louisiana's economy shrank dramatically to start 2022

JBE is on this, nothing to worry about

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I think there's a 50-50 chance we're in a recession

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Do you think especially with the forecasted further downturn?

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But many economists warn the Federal Reserve will need to continue to raise interest rates to bring down inflation. That has already sent mortgage rates rising to almost 6% for a 30-year loan and sent U.S. stock prices tumbling, neither of which bodes well for avoiding a recession.

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Relying on the US fedgov doesn't bode well for anyone; tho I hope Louisiana finds a way to weather the dysfunctional, tyrannical storm.

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For Louisiana, the weak first quarter GDP data was largely a continuation of the long-running trend of lagging the rest of the U.S. Wagner said that from 2010 through 2019, Louisiana's economy was the worst in the country "by a huge margin."

"This state has systemic economic problems that have to be addressed, assuming you ever want to grow at a pace that's competitive," he said.

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This isn't an insult at all--if it comes across that way to any Louisiana citizen, blame my delivery and not my heart--but help me understand:

What is the underlying, systemic issue in Louisiana that prohibits financial gains? What needs to occur to pull the state to where it ought to be, in terms of: economics, entrepreneurialism, and overall fiduciary achievement?

iswydt

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50-50, but only a 10% shot of that.

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In a real economy, production of a valuable good or service drives the economic numbers. Employment that is based on State-financed Social Services is questionable as such relates to real value. One can argue the morality and practicality dynamic, but not the numbers. Numbers don't lie re value bang for the buck.

Louisiana is low hanging fruit for the implementation and transformation ("fundamental transformation") wherein the Fed State becomes the absolute 'employer' of the populous. I think because of our demographics, we are leading the pack toward said "transformation" by the Fed.

Just my uneducated opinion as I'm by no means an economist. Neither do I believe that it is or should be all about the money. Regardless, given Immigration and the effects of High Tech on employment, there will be massive change. Moving up is never easy.

Remember all those stories about how the pandemic lockdowns were actually going to be good for the bottom line of Americans because they would stay home and not spend as much income? Well, now that the pandemic is over, people are ready to spend.

Yet because the Fed went on an unprecedented money printing spree to “stimulate” the economy vis-à-vis the trillion dollar CARES package, that money is worth far less. Couple this with a shortage of goods that once were plentiful and it doesn’t take a degree in high finance see that the COVID-1984 “Relief” package seems more punitory than beneficial.

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Oil at $35/barrel and the Louisiana economy sucks. Oil at $130/barrel and the Louisiana economy sucks.

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When the oil and gas industry took a turn for the worse there was a mass exodus and closures of service companies in the state. There was also a large trend of service companies getting bought out by the big boys for cents on the dollar- mostly due to folks cashing in for whatever amount they could for retirement etc. Many of those mergers and buyouts ended up closing their doors in the mid to late 2010’s. This state is a shell of itself in the service company sector. The price of oil doesn’t matter one lick now bc we simply don’t have the businesses based in Louisiana like we used to.

Vitter chased whores. Rispone talked funny. You know, important things.

Not like a liberal Dem who claims to be an old school, "conservative" Dem.

Elections during which you have to rely on Louisiana "Republicans" have serious, serious consequences. Blanco? JBE? Louisiana "Republicans" think those sort of people are better than Jindal, Vitter or Rispone.

:letthatsinkin: