New book by Larry Connors Click here Improve your trading - See how
Mr. Thorne spoke to more than 50 business people at a luncheon Wednesday at the Westmoreland Club, hosted by the Greater Wilkes-Barre Chamber of Business and Industry.
He called the Marcellus Shale formation a "shot in the arm" for the area which will have significant economic benefits. The rock configuration found throughout nearly 60 percent of Pennsylvania's land mass has been promoted as a way to reduce dependence on foreign oil.
Mr. Thorne also highlighted some factors that have led to the economic downturn.
"We have overextended ourselves. We have consumed too much. We don't invest enough in education," he said. "The U.S. dollar is dead. The place of the United States economy as the leading economy in the world is over."
For the economy to improve, there needs to be an adjustment period, he said.
"We need to make more, consume less and save more," he said. "China needs to make less, consume more and save less."
Additionally, a new industry needs to spur economic growth just as the Internet did in the 1990s, he said. The growing field of green technology has all the characteristics to be successful in generating jobs, he said.
"Whether it is or not remains to be seen," he said. "The trick for people building portfolios is to look forward. The trick for being a good hockey player is going where the puck is going, not where the puck was."
Contact the writer: dallabaugh@citizensvoice.com
To see more of The Citizens' Voice or to subscribe to the newspaper, visit http://www.citizensvoice.com/. Copyright (c) 2009, The Citizens' Voice, Wilkes-Barre, Pa. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
