Letter to the editor:

One-note economy is hurting Nevada

Susan Ciconte, Albuquerque

Friday, May 29, 2009 | 2:02 a.m.

Las Vegas Mayor Oscar Goodman can’t really blame the local and state unemployment rate on President Barack Obama’s remark about corporations and businesspeople taking Las Vegas trips at taxpayers’ expense.

Nevada’s industry is mainly based on one’s discretionary income. When America gets hit with economic problems, that money is out the window. Perhaps your problems are based on the fact that Nevada, including Las Vegas, relied too much on one industry — travel and leisure — instead of building a diversified economy. The lack of personal diversification, too, can hit hard when the economy goes under.

Maybe those of us who spend time and money constantly upgrading our education and marketable skills will finally be rewarded and this country and its states will come to terms with the importance of a talented, educated workforce.

Discussion: 1 comment so far…

By SgtRock

5/29/09 at 5:29 a.m.

Suggest removal

"Nevada's industry is mainly based on one's discretionary income. When America gets hit with economic problems, that money is out the window. [.......]The lack of personal diversification, too, can hit hard when the economy goes under."

Our economy while not diversified is based on the larger economy that is very diversified.

So when the larger diversified national economy is doing well then we do well.

So when the larger diversified national economy is hurting then we will get hurt.

Most states are in that boat, too.

Just look at California. It is the 7th largests economy in the world and it is extremely diverisifed. They are in worse shape than us.

Most industries are like that.

Car, housing, and most manfacturing are tied to the larger economy just like our core industry is.

You need to pick something that would not be affected by a slowing national economy.

Now storing nuclear waste would be a good industry to pick that does not get affected by a slowing national economy.

Opps...Reid killed that money making bird.