Send a Tweet
Most Popular Choices
Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Tell A Friend Printer Friendly Page Save As Favorite View Favorites
Exclusive to OpEdNews:
OpEdNews Op Eds

Middle America; Going, Going, Gone:

By       Message Mike Folkerth       (Page 1 of 2 pages)     Permalink    (# of views)   2 comments

Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) , Add Tags  (less...)
Add to My Group(s)

View Ratings | Rate It

Author 8520
- Advertisement -

Good Morning Middle America, your King of Simple News is on the air.


For those of you who read this column on a regular basis or have read my book, you know that I predicted a recession by late winter of 2007-2008, nearly a year before it occurred.


- Advertisement -

I also predicted the housing crash nearly two years before it occurred and the immigration debacle a year before it made the back page. I do admit to buying one of the new crystal balls with H.D. Not really, I attribute the accuracy of these predictions to a darn good 8th grade math teacher and an inherited grasp of common sense.


There are those anointed talking heads on TV news and the financial programs who have continually denied that recession was a possibility. The main difference between them and me is that they make a lot more money for being wrong than I do for being right. But then, they are being paid to lie and I tell the truth for free.

- Advertisement -


Economics is easy if you reduce it to Mikeronomics. In recent days, Barrack Obama has infringed on my method by claiming to teach Obamanomics. But, like the talking heads, he has as much grasp of America’s economic woes as he does the formula for a new rocket fuel. As do his counterparts who wish to lead us to prosperity.


Let’s look at an example of simple economics; in this case, Starbucks with applied Mikeronomics. Starbucks has been making the news of late due to falling sales, falling stock prices, and closing stores. No one seems to understand how a viable company like Starbucks could be in trouble. But then, they failed to ask the King of Simple.


Starbucks could only exist in a particular time and place. In other words, lucky is better than good. Starbucks built up a business in high visibility locations that conversely have high overheads. When you build a business with a high overhead around a cup of coffee…that coffee is damn expensive. No other way.

- Advertisement -


So what happens to a business that sells expensive coffee when the economy tightens up? When discretionary spending is pinched? And, when in a blind taste test, McDonalds coffee wins? Sure, exactly what is happening to Starbucks, you begin to sink slowly out of sight. The business climate necessary for survival no longer exists.


Next Page  1  |  2


- Advertisement -

View Ratings | Rate It

Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)

Mike Folkerth Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Will Our Economy EVER Recover?

Fox News on Georgian Invasion; Not Exactly What They Wanted:

U.S. Auto Industry is in Recession:

Paradigm Shift; Change Your Life:

Housing Predictions:

Choosing Sides; Who Would You Pick?