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October 6, 2008

Baltimore avoids recession (so far)

Here is a piece in the NYT and a nice graphic showing where metro economies are growing and where they are shrinking. Washington is listed as growing while Baltimore is "at risk" for recession," according to Moody's Economy.com. norecession.jpg
Posted by Jay Hancock at 10:51 AM | | Comments (1)
        

Comments

In the past two weeks, it seems we have reviewed monetary economic (the bailout) and supply side economics (drilling for oil and other alternatives). Isn't it time to look at good old Keynsian economics (C+I+G)? Jobs need to be created and investment in energy (which also needs to be done) will not produce the jobs that both candidates are promising. With the exception of some coal mining, the remaining energy alternatives are capital intensive. We will need to repair and rebuild our basic infrastructure in order to counter the current trends in employment (and therefore spending).

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.
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