Daily Speculations

The Web Site of Victor Niederhoffer & Laurel Kenner

Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter;  a forum for us to use our meager abilities to make the world of specinvestments a better place.

 

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9/15/04
Life isn't so good in West Chester, by Steve Wisdom

Wyeth is closing its West Chester, PA plant and 200 employees will lose their jobs.

So the blogger tells us life isn't so good in West Chester.

All of economic theory is crystallized so beautifully by this one bloggoid.

The ignorance, the hubris, all the conceits, of the statists, the central planners, the perma-bears, all those who are pessimists about the future of humanity.

I suspect the blogger has never set foot in West Chester.

I suspect he cut/pasted a line from a news story that flashed by.

But I've set foot in West Chester. I grew up there. My mother lives there, and my brother. My father is buried there, and my grandfather & grandmother. I've walked the streets of West Chester for 40 years.

West Chester is the county seat of Chester County PA, long one of the fastest-growing counties in the USA. The aggregate wealth creation & increase there, in business enterprise value, in real estate, in human capital, over the past 40 years is rivaled by few areas anywhere.

What portion of this has the blogger documented?

Over the years, businesses have failed. The steel mill my father oversaw was later purchased by Bethlehem, then finally closed. The Woolworth's in the center of West Chester is closed, replaced by a brewpub many times more vibrant & thriving.

Much of West Chester was uninhabitable a generation or two ago. Unsafe to walk the streets. Now it's the entertainment, dining & recreation hub of the western suburbs.

Nearby Devon/King-of-Prussia is Pennsylvania's Silicon Valley

And so forth.

Let the blogger come and debate me about the ''decline'' of West Chester.

9/20/04
Marcus Semones adds:

Looks like the economy in West Chester PA is just fine. The jobs will most likely be transferred to the new Collegeville site (next to the GSK site).