Scoop’s Views

Over the past few weeks while investors, investment bankers, and others, all whining that Wall Street was going to collapse. The federal government – pushed by President George W. Bush, as well as others in the administration, put together two bailout packages, with the latter with a $700 billion price tag, was eventually being approved by the House and Senate.

Some wise people I know, people I trust, were saying the past few weeks, while tough economic times were upon us, to chill out and wait. In fact, buy stocks while everyone was selling off and prices were low. The folks on the other side of the street, where it seemingly always rains, were talking doom, gloom, and stock market crashes.

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This past weekend, it seemed as though every news outlet in the nation was busy hammering on Philly yet again. This time it was over a recently released Census Bureau report, showing Philadelphia had the largest percentage population loss over the past seven (7) years than any other major city in the United States, including Detroit.

Looking at all major cities in the U.S., Philadelphia is estimated to have lost more residents since the last U.S. Census – from 2000 and 2007 – than any other city in the country, with the exception of New Orleans, which was devastated in 2005 by Hurricane Katrina and Hurricane Rita, according to estimates recently released by the U.S. Census Bureau.

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Imagine someone you know going into a coma tomorrow. With the November 2008 Presidential election several months off, they’d have no idea the outcome when they wake from the coma, if ever.

Trying to remain eternally optimistic, though, let’s suppose that person wakes from the coma in 2015, about seven years from now. Can you imagine what a different world it could be?

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