tag:blogger.com,1999:blog-552358014685805851.post6510638137972045..comments2023-11-05T02:35:48.009-05:00Comments on Track Twenty-Nine: Recession Threatens TransitMatt'http://www.blogger.com/profile/15011703558247093148noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-552358014685805851.post-61629454203852962462008-10-26T10:47:00.000-04:002008-10-26T10:47:00.000-04:00The potential foreclosures of transit systems is t...The potential <A HREF="http://cynicalsynapse.wordpress.com/2008/10/26/foreclosures-looming-for-transit-systems/" REL="nofollow">foreclosures of transit systems</A> is the latest debacle in the morass created by the get-rich-quick financial charlatans. The finance-lease back deals seem not unlike the whole subprime house of cards.<BR/><BR/>Funny how the banks are considering demanding payment now. Maybe, despite the taxpayer bailout, <A HREF="http://hardhit.wordpress.com/2008/10/25/thestreetcom-aig-has-about-eight-weeks-of-cash/" REL="nofollow">AIG is sinking fast</A>.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-552358014685805851.post-40620814361265098492008-10-25T14:25:00.000-04:002008-10-25T14:25:00.000-04:00I like the example of 1929 New York. I'm convinced...I like the example of 1929 New York. I'm convinced that the price of oil isn't going to remain (relatively) low past the election, which would lead to a call for more transit. In that event, I think transit will weather the storm somewhat. I know that in my case, when money gets tight I'd love to have the option to sell my car!Davemurphyhttps://www.blogger.com/profile/07331653772702609738noreply@blogger.comtag:blogger.com,1999:blog-552358014685805851.post-63057586573793631342008-10-25T12:16:00.000-04:002008-10-25T12:16:00.000-04:00Matt, great analysis. I think, however, that there...Matt, great analysis. I think, however, that there is a "glass half full" attitude that can be taken toward transit expansion during recession.<BR/><BR/>Recessions mean significantly lower input and materials costs. Energy prices have collapsed, and you are correct to note that low energy prices are bad for transit usage, but it is great for infrastructure building. The costs of other raw materials: steel, aluminum, concrete, etc. have also come own significantly in price. In some cases we can buy building materials at a fraction of what we would have been paying a year ago. Recession also means rising unemployment. Government can demonstrate good-will and a desire to stabilize the economy by investing in public works projects, like transit, that put people back to work at least until the economy is back on track.<BR/><BR/>Of course, this requires leadership that is willing to spend money when money is hard to come by. When it comes to transit, it could really go either way; the deal breaker will probably be whether or not we put the right people in the positions with decision making power.Rob Pitingolohttps://www.blogger.com/profile/10273110931175509169noreply@blogger.com