Economists say Texas, Wichita Falls still doing well overall
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#1 Mar 14, 2009
Unfortunately, the headline for this article reflects neither the content of the article itself, nor the remarks by either Dr. Chelte or myself. In both cases, arguments were made that painted both the Texas economy and the Wichita Falls economy as COMPARATIVELY better off than the nation as a whole. The content of the article echoes our actual remarks quite well. But nobody said that the local economy was "doing well" as the byline infers. Indeed both speakers at this event argued that there were numerous challenges facing the local economy and innumerated many of them. Both speakers also argued that consumer and business confidence were very important components to the rate at which the economy recovers from the downturn, especially since consumer spending represents roughly 71% of US economy activity and business spending represents another 14%.
Neither the state nor the Wichita Falls economies are "doing well" and to use this language in the article byline does a disservice to the individuals and businesses negatively affected by the recession and distorts the actual messages delivered by both Dr. Chelte and myself.
#2 Mar 15, 2009
Looks to me that people need to get out and talk with the people as well as the merchants. I think they will find that things are not so well in Wichita Falls and the surrounding areas. There surely are some businesses going out of business for us to be doing really well. People are not buying automobiles unless they have to. People are going less and spending less. I base my listings on just talking with people and observing.
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