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The stock market is taking a big hit today on the announcement that Standard and Poors downgraded its outlook for its credit rating on U.S. debt. Bend financial advisor Bill Valentine with Valentine Ventures, believes the warning is a good thing because it elevates the dialogue and makes it more likely that politicians will make large policy changes to head off a problem: “It will help people who don't have the slightest background in economics or fiscal policy to appreciate that there's a growing problem. When you see the stock market react negatively, that's the emotional response. To the average Oregonian this is just another warning call, a shot across the bow of the federal government that something must be done. This is not your father's recession;   we can't make cyclical fixes and accounting changes to solve our deficit problems; this is a structural problem.”  Valentine says this problem is arguably 70 years in the making. Standard and Poors says there's about a 33% chance it will actually downgrade the country's AAA rating sometime during the next two years.

 

 

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  • Click on the link for the latest conditions on the mountain passes.

 

  • Purcell Boulevard Northbound lane between Neff Road and Full Moon Drive (West side of the hospital) is closed until December 20th.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.