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Dr. Michael Walden, 2/25/09
Comments on Dr. Michael Walden's presentation 2/25/09
Dr. Walden delivered an interesting presentation sprinkled with considerable humor including the story about how he and then Senator Obama happened to connect at a local gym in August of 2008 while campaigning in Raleigh.
His presentation touched on the following topics.
We are in the 12th recession since WW II. After growth phases, the economy periodically goes through a recession period. We are not in a depression (yet) since his definition a depression lasts longer than 3 years and more than 10% of the collective income is lost.
The "Great Depression" lasted ten years with a 38% erosion of wealth and 25% unemployment.
His forecast is for bad news for the next 6-7 months with the Federal stimulus beginning to take affect in the 4th Quarter of 2009.
He expects the economy to begin a rather anemic recovery in early 2010.
Dr. Walden emphasized two primary challenges over the next 4 years, ending the recession and managing the aftermath (including controlling inflation).
The good news is that since we have to be somewhere, the Greater Raleigh area is one of the best places to be during these challenging times.
Those in attendance continued their table discussions after Dr. Walden's departure to get to a class at the NC State campus.
I invite those in attendance to post additional comments about their take-aways from the presentation and what that discussed in their table discussion.
Bob Moore,
Co-host
The Greater Raleigh Thought Leader Community
TLC - Ideas for gaining momentum
Thanks for the summary, Bob, I think it's valuable, and I agree that Dr. Walden's outlook was very insightful.
This was my first TLC. I was struck by the depth of insight shared by participants, as well as the intensity of dialog generated in just a few short minutes. To really move the needle, I think we'll need more time to think and interact, so let's try to keep our ideas flowing between meetings. Would be great to build some momentum going into the next live session. TLC on Linked-In is now up (thanks Graham) so I hope everyone can join us to start some threaded discussions there -
I think the new format - speaker, table discussion, table findings, and offline networking - is very effective. There are plenty of other places for elevator speeches. Let's use this venue to brainstorm practical ideas for innovation and change in NC.
So far, it's the only place I know where that is the primary agenda.
Thanks to you and Becky for being catalysts on this.
Looking forward -
Chris
Dr. Walden's presentation/comments
What an insightful presentation and comments! As we are constantly inundated with the "gloom and doom" of our economy and world happenings it was reassuring that this wasn't the first time and we have not only survived before, but come out better. We all have an opportunity to make a difference in our region and world right now. The Triangle is a phenomenal place to work, live and play and to call "home." Here's to many future successes and for supporting each other!