Randam Ron Paulism
It really doesn’t matter whether I’m right or wrong: the war is going to end because we’re gonna have such a political and financial havoc here with the devaluation of our dollar, because we just can’t keep affording it. This is usually how empires end, by spending too much money maintaining their empire. We’re in 130 countries, we have 700 bases around the world, and it’s going to come to an end. I want it to come to an end more gracefully and peacefully, follow the constitution, and follow a more sensible foreign policy.”
Late Edition with Wolf Blitzer, CNN, December 2, 2007
Federal Reserve sees moderate improvements in regional economy
The Federal Beige Book was released Wednesday.
Reporter- Business First
The economy of the Federal Reserve’s
Eighth District, which includes the Louisville area, continues to expand at a modest pace, the Federal Reserve reports in its most recent Beige Book on economic conditions.
Home sales increased throughout the district on a year-over-year basis. May 2012 year-to-date home sales were up 15 percent in Louisville, 7 percent in Little Rock, 21 percent in Memphis and 19 percent in St. Louis.
Housing permits increased 45 percent in Louisville, 26 percent in Little Rock, 41 percent in Memphis and 25 percent in St. Louis.
Commercial and industrial real estate conditions also improved moderately, with a Louisville contact reporting strong leasing activity for premium office space in the city’s central business district. Office vacancy rates were mixed in other Louisville sub-markets, the report said.
Several manufacturers within the Eighth District reported plans to open plants and expand operations in the near future, especially in the auto, appliance, wall coverings, food, construction machinery, factory components and packaging industries.
Service industries that reported plans to expand and hire new workers included medical transportation, waste management and business support services. Industries in which firms planned to lay off workers included newspaper publishing, telecommunications, educational services and merchant transaction services.
General retailers have reported stronger sales recently and auto dealers have reported year-over-year increases in sales.
For the full report, click here.
Kevin Eigelbach covers these beats: Financial services, residential real estate, property and casualty insurance, construction, unions, engineers, architects, agriculture, South End, Southwest County, Bullitt County.
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