December 29, 2009
John Browne
Politicians and the media tell us our economy has tiptoed back from the brink of catastrophe and that a recovery is under way. They haven’t convinced John Browne, a former Conservative Member of Parliament under Prime Minister Margaret Thatcher who now writes and lectures on political, economic, financial and defense issues. A Palm Beach County resident and investment advisor, Browne was our November speaker.
“Things were really desperate, and now, suddenly, as if by magic, it seems that everything is all right,” Browne said. But this return to normal is an illusion, he said. “The same behemoth banks are still there, only now they’re larger. The same toxic assets are there, only now they’re hidden.” Meanwhile, consumer confidence has dropped to levels not seen since the 1930s. So to those paying attention, the facts don’t fit the rhetoric.
“In the 1960s, people took acid to make things look weird. Now, we take Prozac to make them look normal,” Browne observed. “So you have to ask yourself, are we being fed political and economic Prozac?”
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November 16, 2009
William C. Davis
Two years ago, William Davis, Past President of the Florida Association of Mortgage Brokers, told the Economic Forum that the crisis then rippling through the mortgage industry would spread. Back in the Fall of 2007, he warned that the the economy was about to get a lot worse. In an October 2009 return visit, however, he said he underestimated just how bad things were going to get, and he had few encouraging words for what lies ahead.
Many in the audience were probably hoping for better news. But Davis mostly talked about the deep systemic problems that will cause economic pain for years to come. For example, even as the economy comes back, jobs are unlikely to because during the downturn businesses have learned how to make do with fewer employees. “So jobs are lost forever,” Davis said.
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October 14, 2009
This is a work in progress for review by the Economic Forum leadership. Responses are not yet being recorded.
September 22, 2009
Randy Schultz, Editorial Page Editor, the Palm Beach Post
At our September meeting, Palm Beach Post Editorial Page Editor Randy Schultz made the case against misinformation – and for the continued existence of newspapers.
“Since my part of the paper is the one that deals with comment, I would like to discuss the difference between informed comment and uninformed comment. Because it has never been more important to distinguish between the two,” Schultz said.
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July 18, 2009
Russell Greene
Russell Greene – Grand Bank & Trust of Florida President & CEO
Attendees at Russell Greene Luncheon
December 18, 2008
From Palm Beach Daily News:
Palm Beach County Economic Forum President Rebel Cook said she is still “reeling” from news of the alleged scam. She predicts many wealthy Palm Beachers will be forced to cut back on their personal staffs, creating a trickle-down effect of growing unemployment. In the coming weeks, area restaurants, which are already hosting fewer patrons and coping with reduced staffs, will likely receive even less business, and charitable foundations will try to survive with dwindling donations, Cook said. The only South Florida industry that might be spared from the fallout is the legal industry, which will feed off the inevitable slew of lawsuits, Cook said. But even that’s not a sure thing. “Will lawyers do well?” Cook said. “Yes, if their clients can pay them.”
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October 16, 2008
From the Palm Beach Post:
Rebel Cook took stock of the country’s financial crisis on Tuesday and wondered whether she’d prefer a hurricane. Both disasters are devastating, but one has a predictable end, said the president of the Economic Forum of Palm Beach County. “If it was a hurricane, it would blow through and it would be gone,” she said.
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