Opinion: Get back to basics to get economy going
Publisher’s note: This editorial is from the June 21, 2011, Reno Gazette-Journal.
By now, it has become crystal clear that there is no magic bullet for what ails the American economy.
Nowhere is that more true than in Nevada, where the nation-leading unemployment rate fell slightly, to 12.1 percent in April but rose in the state’s two most populous counties, Washoe and Clark, where it matters most. (The jobless rate is more volatile in rural counties, where small changes in the actual numbers can cause wide swings in rates.)
What we’ve seen during the past few years is that there isn’t much that either Congress or the Federal Reserve Board can do that will convince cautious consumers that this is a good time to start spending again or pessimistic business owners and managers that the time is right to hire again.
It should now be apparent that it will take considerable time for this state to regain what it lost when the once-booming economy collapsed. It will take patience and more than a little derring-do by entrepreneurs who see opportunities where everyone else sees only gloom.
Nevadans shouldn’t be looking for a home run. What they need is a lot of singles.