Friday, August 19, 2011

The Recession Was Reversed Until Nation Hit With Bad Luck -- Yes, Bad Luck in the Bakken Also

Update

Add this to the list: US Congress -- Democratic-controlled Senate and Tea Party-controlled House.

Original Post

This is the official "bad luck" list that impacted the economy, just when the recession looked licked:
  • the Arab Spring uprisings -- foreign
  • the tsunami in Japan -- foreign
  • the European debt crisis -- foreign
But there is one that was forgotten:
The North Dakota Department of Transportation is working on a number of road projects across the western half of the state, but landslides and flooding have made this construction season a stressful one. 
DOT director Francis Ziegler told members of the Energy Development and Transition Committee that this was the most stressful time the department has seen in the roughly 40 years he's been there.
I guess the official 2011 list is similar to an earlier list:
  • 9/11 twin towers -- domestic
  • Katrina -- domestic
  • mark-to-market housing bubble market collapse -- domestic
In the corporate world, these are written off as one-time events, and the successful corporations move on.




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