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Support your local business

As the markets teetered and investors waited word on whether the Big 3 would get the big bucks from the Fed, many folks were wondering if there was any end in sight to the bailouts and rescue plans. We have yet to see any tangible evidence of credit loosening up. In the meantime, we are starting to see gas prices creeping up. More layoffs are coming. Many Wall Street bonuses are not. But will the recessionary Grinch steal Christmas from retailers? If Black Friday was any indication, probably not. Consumers are spending maybe not as much but they are buying. Thats good and bad. With the consumer so much in debt, what does that mean for the gross domestic product, since consumer spending accounts for nearly three-quarters of GDP? The Business Journal checked in with Maureen Morgan, a transit advocate, a board member of Federated Conservationists of Westchester and a regular contributor to this newspaper. In an online interview, Morgan talked about the GDP and her concerns about an economy built on sand. An economy that depends on frantic purchasing by a deeply indebted public is not a dilemma that can long be ignored, she notes. In addition to consumption, Morgan discussed three other components of the GDP: investment, net exports and government purchases. While Morgan is quick to point out shes not an economist, she does keep a close eye on economic indicators and observers. Following are excerpts from the Web chat. What about local investment? Well, as my father always told us he had a business Support your local business. Thats a little harder today because theres so many chains but that is the way to build your own community up strengthen your own region, support those businesses, shorten your own supply line. think differently. Globalization sounds great but it has been pretty painful.