Jack Welch on Fox

[deepinwonder]

Jack Welch was on Fox this morning discussing the possible effects of Katrina on the economy. He not only doesn't seem worried about it, he sees a lot of hope for the future and I tend to agree. That area of the country has suffered from corruption on local and state levels for a long time, actually, the mayor of NOLA was elected to try and clean some of it up. Also, a large percentage of their population weren't working steady jobs and were living off the backs of people who were. Now, they have a chance to find work, if they want it, and it could change their lives and create new taxpayers, adding to the economy.

There will be a boom in building down there and if they create "free enterprise" zones, it will either attract new entrepeneurs to the area or make new ones out of people who are from there. They are also creating booms in other cities and towns they are relocating to.

[optimus25]

Jack Welch is a smart man. So is his insight on Katrina. Boom has begun for the towns where people have relocated. Wasn't it in the news that commercial real estate had gone up some 20% in Baton Rouge alone. Tell me if I'm wrong.

[mdamia]

Great points made by Welch and they were in line with what I was thinking also. NO has been a diaster for years and now maybe through the recovery the economy will grow and flourish.

[deepinwonder]

The homebuilders came out with new numbers, this morning, indicating a big rise in sales all around that general area. Don't know what the percentages are, though.