According to the WWL, the credit crisis is going to slow down our recovery.
I'll try not to notice.
There was one selection that jumped out at me:
Miestchovich said if there is a prolonged recession, there are two sectors which would suffer the most in New Orleans: the Port of New Orleans, in terms of world trade, and the tourism and convention business.
That's so fascinating because we really only have those two sectors. One of the things that has made me most frustrated by conservative Nagin recovery policy has been this ridiculous approach to economic development that seems to favor dumping all available resources into inflating the profits of the port and of the corporate tourist economy. When we could have been investing in grants for entrepreneurs, getting in on the ground floor of the green jobs movement, or otherwise diversifying our stale portfolio, we instead continued to shower favors on the preexisting bohemoths.
So what are we going to be left with when our two sectors take their hit?
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