Utah recovery months away, consultant says

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  • its raining, make hay
    July 1, 2009 12:08 p.m.

    This type of cycle is good and bad. It is bad if you are not willing to work hard, hussle, be ingenious and creative. It is bad for you if you just want to show up for a paycheck or get employment based upon your education and qualifications. If you are willing to go above and beyond, provide innovative solutions, provide extraordinary products and work your butt off instead of just punching a clock, you will thrive. I would say 98% of the population has the ability to thrive in this economy. I would also say less than 5% of the population with the ability to thrive is willing to do the work it takes. There is more opportunity in a down market than an up market. My only grumble about this whole thing is that big businesses are being held up by taxpayers and small businesses because we live in an oligarchal society that positions politicians to carry out agendas for large business.

  • Jinx
    June 30, 2009 6:47 p.m.

    same guy who said in February.....any time Summer at the latest, yeah right. We are deep in the soup....for a long time!

  • Keep 'em poor
    June 30, 2009 4:24 p.m.

    Fire 'em.
    Relocate overseas.
    Take away their health care.
    The piece of the pie grows along with the purchasing power.
    That is capitalism at its best.

  • Sooner
    June 30, 2009 2:57 p.m.

    I can tell you this downturn started much sooner than they are saying (we started laying off two years ago), it is deeper than they are saying (I call it a selective depression...if it's hitting you it's hitting you hard), and it will last longer than they say. Coming out all depends on if the less-effected business can pull the effected businesses up instead of the other way around. It's brutal out here.

  • To "To duh"
    June 30, 2009 2:33 p.m.

    How many people do you know, especially in Utah, that produce TVs, computers and cameras?

  • Opt out boozer
    June 30, 2009 1:46 p.m.

    I'm pretty sure this headline would work just as well under the sports section describing the Jazz

  • Anonymous
    June 30, 2009 1:33 p.m.

    As in the Great Depression some prospered exploiting those who did not.
    Some people are going to get hit and hit hard if they haven't been paying attention to what's been going on for the last 8 years.

  • To duh
    June 30, 2009 12:44 p.m.

    You can't eat services, live in services, drive services, run your car on services, or wear services. Even lawyers and accountants eat, wear clothes and live in houses.

    People still want computers, cameras, big-screen TVs, food, shelter, clothing and fun recreational and entertainment opportunties. The folks that produce them will do just fine.

  • Maybe longer
    June 30, 2009 12:29 p.m.

    With a state economy based mostly on:
    1) Tourism
    2) Scam-way
    3) Speculative Home building
    4) Reagan Outdoor advertising

    Utah has a long-long recovery ahead.

  • Anonymous
    June 30, 2009 11:55 a.m.

    The socioeconomic situation has changed possibly forever.
    Live beneath your means and you will have a good life.

  • duh
    June 30, 2009 10:44 a.m.

    We have basically become a service economy that feeds on each other's ability to spend money...I would say we are still on our way to a big bottomless pit.

  • Nowhere Close To Recovery
    June 30, 2009 9:06 a.m.

    Have you looked at the number of houses for sale in this state? Prices are still WAY too high which means we are a LONG way from being able to recover. Sellers and banks are still extremely optimistic on the prices they think these homes should fetch. Another 20%+ drop in prices is needed in most parts of the Wasatch Front. Until it happens, or inflation reduces the real value by that much, the Utah economy is going NOWHERE. With very little big business (other than church/government), Utah is dependent on housing, infrastructure growth and out-of-state folks coming for education. The education wave from the baby-boomers is fading, meaning there is little to drive a strong recovery for the next 2-3 years.

  • True
    June 30, 2009 9:00 a.m.

    Japan is still mired in their 10-year (and growing) recession. Government interference compounds and expands recessions.

  • Say what?
    June 30, 2009 8:00 a.m.

    "Like a timid swimmer watching for drop-offs on the pool bottom." Say what???

  • Anonymous
    June 30, 2009 7:51 a.m.

    Thredgold's most recently published book is titled "Why the American Economy is Alive and Well". Opps! I guess he pulled this one on the shelf? Or is he willing to say what ever makes him a buck?

  • economistxx
    June 30, 2009 5:56 a.m.

    We've been spoiled by two unprecedented periods of growth to the point that we've forgotten what a business cycle is like. This is a recession. People who call the current downturn a depression are not old enough or not educated enough to understand what the Great Despression was truly like--or even recognize a bad recession. And, even though the residential housing market may take a long time to recover, that doesn't mean other portions of the economy won't improve far earlier. Economists date the end of a recession by when contraction stops--not when growth appears. By that measure, the first-into-the-recession areas of the country have already hit bottom.

  • We can only hope
    June 29, 2009 9:58 p.m.

    Let's hope things finally turn around by next year, but I highly doubt we've seen the bottom. Is this a depression or recession, depends on who you ask. Those who still have jobs, or those who lost theirs and can't even get one a Target.

    Let's not forget about students that just graduated and can't get a job that have student loans to start paying on too.

  • Shelly
    June 29, 2009 9:28 p.m.

    If a housing contractions last five years, we still have three or four more years to go. The housing market was going gangbusters in Utah until 2007 - 2008. In 2007 and 2008, everyone kept repeating the same mantra, "But Utah is different. "

  • If nobody will say it.. I will..
    June 29, 2009 8:47 p.m.

    DEPRESSION! This is not a "recession". It doesn't take rocket science to see that.

  • oracle
    June 29, 2009 7:55 p.m.

    recovery is months away -- 100+.