Opinion

How will national woes impact state?

By Bruce McCormack

This document was published online on Thursday, December 04, 2008

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A favorite new pastime in Wyoming is trying to read what the tea leaves portend for our economic future.

It's remarkable to consider the depths of despair into which much of the nation has fallen compared to this state's relative good fortunes.

And it's surprising to realize that virtually no one has a good idea or even a decent theory as to what's likely to happen to Wyoming's economy in the coming year.

Meanwhile, cracks are beginning to appear in the firewall many in this state take comfort in believing guards us against the nation's sweeping problems.

Real estate activity, always quiet at this time of year, is considerably slower than usual statewide.

Last summer was good for traffic in northwest Wyoming, but not nearly so rosy for tourist spending. That creates a hardship on main street that extends through the winter. Meanwhile, it's anyone's guess how retail spending will hold up, even after a strong post-Thanksgiving weekend.

It's also revealing to compare the current status of communities like Cody, with its slow, steady growth, and booming markets like Jackson.

The news in Teton County is all about various mega-real estate projects seeking bankruptcy protection, many other developments stopped dead in their tracks and layoffs occurring at many businesses while government also cuts back - all in the face of a decidedly quiet retail and tourism climate.

It's enough to make one even more grateful to live in Park County where “the bigger they come the harder they fall” is not so in evidence.

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