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+--- Thread: our economy: how do we pay for it (/showthread.php?tid=21904)
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our economy: how do we pay for it - kalakoa - 08-25-2020
I often see this opinion: "we don't need more resorts", sometimes more generally "no growth of any kind", and I wonder: where is our revenue supposed to come from? Is everyone getting a pension and/or social security, and if so, why do they get to decide that the rest of us don't need any opportunities?
Along similar lines: the idea that "TMT won't bring in as much money as tourism ... therefore it's a waste of time".
What do we want our future to be? Can we do better than a MIRAB economy?
RE: our economy: how do we pay for it - HereOnThePrimalEdge - 08-25-2020
I don’t know what the answer to our economic woes will be, but at the moment Hawaii is #50 in the nation on the slow recovery from COVID-19. Because we’re a one-trick-pony tourism based economy.
Hawaii's economy has the longest road back to normal according to our index, as it's so dependent on tourists from the US and Asia. But, of course, no one is traveling.
https://www.cnn.com/2020/08/24/perspectives/back-to-normal-index-moodys-analytics/index.html
At the very least, that statistic should generate some listening sessions, planning discussions, and committee proposals.
RE: our economy: how do we pay for it - randomq - 08-25-2020
Already solved, the new (cold?) war with China will require massive military spending and buildup in Hawaii.
RE: our economy: how do we pay for it - terracore - 08-25-2020
Just an educated guess but...
An exodus away from the islands, taking any meaningful taxpayers with it. Incompetent, corrupt, single-party elected officials turning Hawaii into the next (also incompetent, corrupt, single-party) Puerto Rico. Eventual bankruptcy situation with union retirees shocked that the government they perpetuated has failed them, as judges decide the fate of their bankrupt benefit programs that need a federal bailout to meet a fraction of their obligations.
That's my "best case" scenario.
RE: our economy: how do we pay for it - TomK - 08-25-2020
Bear in mind that some people want astronomy to end on Mauna Kea and, just the other day, the UH regents made that more likely to happen. I don't know how much the university contributes to the state, but if things continue as they are, they won't be teaching STEM, at least not in a way that's acceptable to the rest of the world.
Integrate that.
RE: our economy: how do we pay for it - kalakoa - 08-25-2020
Tourism is a multi-billion-dollar industry that requires basically no effort from government. Everything else is a waste of time by comparison.
RE: our economy: how do we pay for it - terracore - 08-25-2020
At least there will be 20 miles of unused elevated train tracks for people to live under.
RE: our economy: how do we pay for it - ChunksterK - 08-25-2020
It's all been said before when it come to our state's economy . . . or lack of one. Only a complete reversal of the good old boy political culture will produce meaningful improvement. Will a complete collapse and partial depopulation bring that change? I have my doubts. Rather than reform anything, they'll probably just keep begging for bailouts while things get worse. For "liberal" Democrats, these guys are amazingly hidebound and resistant to real change on the state/local level.
RE: our economy: how do we pay for it - terracore - 08-25-2020
One thing they should consider is find out what the roadblocks are for companies hiring "work from home" virtual workers. Amazon hires remote workers in many states and Hawaii isn't one of them. There must be some reason why there are a handful of states that get all the jobs. Our time zone puts us in a unique position for supplying workers during times unpopular in other time zones.
And also find out why so many Hawaii companies are outsourcing to other states and find ways to move the jobs back here. When I called Helco to report not having power the phone was answered on the mainland, and the lady didn't know the difference between "The Big Island" and "Oahu".
One of the local candidates said it best by saying we need to transform government from an entity that puts up road blocks for business to succeed into one that helps them to succeed. And to stop businesses from seceding.
RE: our economy: how do we pay for it - Rob Tucker - 08-25-2020
Harry Kim has been quoted as saying economic development is not the county's job.
Glad he will soon be gone.