Here's an interesting post from the Washington Posts's Wonkblog about why Central Appalachia's coal industry is declining. The conventional "wisdom" offered by the ruling class of El Cabrero's beloved state of West Virginia is that all problems of the industry are caused by a black guy with an African name, but this article points out other factors, including competition from gas and cheap Western coal.
To be fair, some of the proposed new regulations on energy will impact mining, and with it tax revenues and jobs. But the biggest factor by far is the market, which the same ruling class tends to worship as a god when it's convenient to do so.
It's not going to be pretty here. I do wish the federal government would step up with plans and programs to assist mining regions hard hit by these changes.
AUSTERITY BLUES. Here's Krugman on our failure to address long term unemployment.
IT'S NOT ALL BAD. Here's just one of many examples of how West Virginians are trying to promote health and wellness. For more on that, click here.
GOAT ROPE ADVISORY LEVEL: ELEVATED