Chuck Ramsey had an interesting story in the Sunday Mesabi Daily News. The national economic volatility is having an impact on the stock and commodity prices affecting the big mining companies doing business on the Iron Range. Thus, even though demand and production for our Iron Range minerals are high, we might not be out of the woods yet. Check out the story.
This quote seemed particularly indicative of the economic realities on the Iron Range. Things are both the same as they’ve always been and completely different.
The upheavals in financial markets are familiar in a way, even as they may impact the newer companies on the Range, according to UMD’s Jim Skurla. “This kind of reminds me of the old days,’’ he said, referring to the Range’s boom and bust times in iron mining. But with a global market inter-related to the Range, with one Japanese and two India-based firms involved here, “the U.S. doesn’t call the shots any more,’’ he said.
We’re rolling in a interdependent global economy involving India, Japan and the Iron Range. We are the only players in that trinity actively decreasing its investment (per capita) in education and the only one whose leaders don’t consider high-speed internet an important part of its economic future. Would you care to venture a guess as to who ultimately gets the shaft under a situation like that?
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