Wednesday, September 22, 2010

Economy is improving


Confidence is the cheapest form of economic stimulus. Unfortunately, as evidenced by last week's auction in Hailey of the Red Elephant building, confidence in our economy is sorely lacking. In five years, I doubt there is a businessman or investor in Blaine County who won't wish they were at that auction and raised their hand one last time.

The economy is recovering, albeit at a slow and uneven pace. Corporate America is sitting on mountains of cash. They are busy refinancing their balance sheets, investing in technology and buying back stock until demand for their goods and services return. At the first hint of increased demand, an economic wildfire may well commence.

Unfortunately, we are in the midst of an election cycle and with it, all attention seems to be on our dysfunctional government. Taxes, deficits, health care and financial reform all drag on our national psyche, especially because of our 24-hour-a-day news cycle. My best advice: Turn off the TV, log off the blogosphere, and send those partisan e-mails to the spam file. Things will get better. Bill Gates and Steve Jobs both started their companies when tax rates were near 70 percent.

As Yogi Berra once said, "The future ain't what it used to be." But I doubt I will be alone in the next few years when I drive past the Red Elephant building and wish that I would have raised my hand and bid a few dollars more.

Dan Turner

Ketchum




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