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OK, here's an article about a bank in ND, it's a state run bank, started by a socialist, and the AP, thinks THAT'S why the economy is so great in ND. Read on,
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It has no automatic tellers or drive-up windows, doesn't issue credit cards, and tends only a few thousand checking and savings accounts. Its only location is a glass, steamboat-shaped headquarters near the Missouri River, where the business moved from its original 1919 home in a former auto assembly plant.
The Bank of North Dakota - the nation's only state-owned bank - might seem to be a relic. It was the brainchild of a failed flax farmer and one-time Socialist Party organizer during World War I.
But now officials in other states are wondering if it is helping North Dakota sail through the national recession.
Gubernatorial candidates in Florida and Oregon and a Washington state legislator are advocating the creation of state-owned banks in those states. A report prepared for a Vermont House committee last month said the idea had "considerable merit." Liberal filmmaker Michael Moore promotes the bank on his Web site.
"There's a lot of hurt out there, a lot of states that are in trouble, and they're tying the Bank of North Dakota together with this economic success that we're having right now," said the bank's president, Eric Hardmeyer.
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Anything Michael Moore is for, I question, and here's why. This article says, in roundabout ways, that THIS BANK is the reason ND is doing well. But, again, read on,
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Hardmeyer says he's gotten "tons" of inquiries about the bank's workings, including questions from officials in California, Michigan, New Mexico, Ohio and Washington state. North Dakota has the nation's lowest unemployment rate at 4.4 percent, soaring oil production and a robust state budget surplus - but Hardmeyer says the bank isn't responsible for the prosperity.
"We are a catalyst, perhaps, or maybe a part of it," he said. "To put this at our feet is flattering, but it frankly isn't true."
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WAIT, WAIT, WAIT!!! ND has OIL, and they ALLOW the producers to drill, pump and SELL the oil!! What a novel idea, selling the states natural resources. Geez, it's something places like CA, MI, and FL have STOPPED doing, and their economies are in shambles, especially CA. 4% unemployment, hmmmm, how could a bank cause that? State tax surplus?!! Hmmm, how does a bank cause that? And honestly, this guy saying he's a catalyst is BS too.
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The catalysts ARE jobs, tax revenue from thriving businesses and people working paying into the system, not taking from it.
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UPDATE: I just looked, last year CA had 24 banks failed, ND had ZERO!! CA unemployment rate 12.4%, ND unemployment rate 4%. CA coffers untold are (because they keep spending!) BILLIONS in debt, ND has billions in RESERVE, because they are NOT spending 112% of their revenue.
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Schteveo
2 comments:
Well, one reason for this banks success may be that they've done away with a lot of the "bells and whistles". (drive-tru windows, auto-tellers, CC's, etc.) Those "free" things the banks appear to "give" us are not free at all.
But, as Steve said, ND is obviously not consumed by PC, in that, they're not afraid to drill for oil and use their resources. And with tightly controlled spending, there's the reason they're doing well. So simple and so plain to see, yet the lying crooks in DC and state govt's, just don't get it.
Or perhaps, don't want to get it? A lot of these state level elected crooks believe that no matter how much they spend, there's always Uncle Sam to bail them out. And if not, they can do what they always do, turn the the helpless, gullible, tax payers upside down and shake out whatever change they have left.
"No man’s life, liberty, or property are safe while the legislature is in session."
– Mark Twain
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