MOULTRIE —
Michael Barrone writes: "Home mortgage interest rates are the lowest in history, but house sales are plunging. Banks can make money easily because of the Federal Reserve's low interest rates, but they're not making many loans. Major corporations are sitting on something like $2 trillion in cash, but they're not investing.
Unemployment is running at 10 percent, rounded off, for the 11th straight month, but few employers are hiring and a million people have stopped looking for work in the last year. Small-business hiring is at a nine-month low, and retail sales are tailing off.
Government policies designed to stimulate the economy seem to be having the opposite effect. Consumers aren't buying, businesses aren't hiring, and those fortunate enough to have some cash on hand don't seem to be investing.
I call it the mattress economy.
People seem to be following this investment strategy. Step one: Go to Mattress Discounters and buy the biggest mattress you can find. Step two: Take it home, and stuff all your money in it. Step three: Lie down, and get some rest. " Read his commentary in Tuesday's Moultrie Observer.
Local News
2 p.m. update: The mattress economy
- Local News
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The Class of 2012 moves on
Colquitt County High School bid farewell to its 2012 seniors during graduation exercises Saturday morning at Mack Tharpe Stadium at Tom White Field. Scheduled for graduation were 471 students.
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After high-speed chase, driver eludes police … for now
A Moultrie police officer failed to catch his quarry after a high-speed chase Thursday night, but a passenger in the vehicle gave him the name of a suspect.
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Group works toward accountability court here
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Students win for perfect attendance
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Dough Boys Pizza open for business
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Barber Tucker Inn reopens
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Case ready for Jury
The 16 jurors in the trial of five alleged gang members finished hearing all of the evidence in the case Friday afternoon and could begin deliberating as early as Tuesday.
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City pools to open Monday
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Tragedy to keep Ryan James from graduation
Ryan won’t walk after all.
A hue and cry went up earlier this week when the Colquitt County Board of Education refused to let a senior with a developmental disability walk at today’s graduation. The board reversed its decision on Wednesday, but tragic events will prevent Ryan James from joining his classmates at Mack Tharpe Stadium. -
'Farewell Concert' set for Sunday
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