north dakota economy

December 7, 2008 &bull uncategorized

As I was waiting in line at Starbucks yesterday I caught a glimpse of any interesting
article on the front page of the New York Times about North Dakota and how it’s faring in the current “recession.” Before I even read the article I knew something like this had to be one of the reasons for the different economic environment:

North Dakota’s cheery circumstance — which economic analysts are quick to warn is showing clear signs that it, too, may be in jeopardy — can be explained by an odd collection of factors: …a conservative, steady, never-fancy culture that has nurtured fewer sudden booms of wealth like those seen elsewhere (“Our banks don’t do those goofy loans,” Mr. Theel said) and also fewer tumultuous slumps.

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