Health and wealth

Gov. Paterson, quoting Warren Buffett on Friday: “It has become clear over the last 24 hours, according to Warren Buffett, that the United States economy can be compared to a great athlete who suffered a stroke.” Usually I think Paterson’s analogies are on the mark, but not this time: isn’t the U.S. economy better compared to a fat couch-potato who suffered a heart attack?

Artvoice has a good article on the dilemma facing New York at the moment: to invest (FDR-style, in infrastructure) or to cut? (Or to beg for a federal handout, like California?)

Meanwhile, local community banks in Upstate New York say they’re not in trouble and are looking good. The Oneonta Daily Star has a similar story… although one banker reassures us that Upstate is going through “a pretty normal recession” that’s not yet perturbed by Wall Street’s woes. (You know — just the normal recession we’ve had for the past 25 years!)

Pulling an old blog link from way back in my dusty memory… took a while to find it again… here’s an old post from Rome Scene on local banking, which did not take such a rosy view, at the time.

In North Carolina, where many Upstaters have gone, they are re-thinking a local economy too dependent on big banking. The failure of Wachovia in particular may hurt the N.C. economy.

It’s strange to wonder if there is any possibility that the Upstate tortoise might conceivably cross the finish line now that the hare has had a coronary… I think there are many more painfully slow years to go, though.

One Reply to “Health and wealth”

  1. Nah– the Wall St. economy can be compared to a snake-oil salesman who has already sold everybody in every town east of the Mississippi 4 patent-medicines, none of which worked…. and is facing the unthinkable thought that he may have to actually work for a living or starve!

    Athlete! Gimme a break, Gov — these guys are pretty-dressin’ fast-talkers without any muscle!

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