Setting records

The Big Bang theory has it that about 13.8 billion years ago an explosion marked the beginning of the expansion of the universe. The word we’re fixed on here is “expansion.” The American economy is experiencing an economic expansion, and as long as the expansion continues, investor confidence appears ready to hang on for the ride. Last week we witnessed new milestones as major stock market indexes continue to rise.

The S&P 500, a broad index of of stocks, crosssed over the 5,000 level for the first time ever. The S&P 500 rose for the 14th week out of 15 by last Friday’s close, something that hasn’t happened since Richard Nixon was in the White House in 1972. The Nasdaq Composite, a tech stock barometer, also climbed, continuing a winning streak for the 15th week that it hadn’t seen since 1997. So did the Dow Jones Industrial Average, a basket of 30 stocks. All three indexes ended the week with gains.

Investors have been buoyed by strength in the labor market — a job-growth report showing employers added 353,000 jobs — and by solid corporate earnings.

In Connecticut, the economic picture also remains positive, according to the Connecticut Business and Industry Association. Real GDP grew by 4.7 percent in the state in the third quarter last year, which was slightly below the national average of 4.9 percent but double the rate for all of 2022. In November, Connecticut’s Department of Labor reported job growh for the third month in a row. And in the Hudson Valley, private sector jobs rose to 809,800, an increase of 6,100, over the year that ended in December, according to the New York State Department of Labor. Two of the New York region’s private sectors — health care and social assistance — posted year-over-year growth of at least 5.2 percent, the department reported.

Yet we have another set of data points that don’t relate to any kind of metaphorical Big Bang expansion at all. In an economy hallmarked by steady growth, approximately one in four households in our local region struggles to make ends meet.

According to the Connecticut United Ways, in its 2022 Alice report, an acronym that stands for Asset Limited, Income Constrained, Employed, 25 percent of the households in Northwest Connecticut earn more than the Federal Poverty Level but less than the basic cost of living in the area. The basics include: housing, food, child care, health care, technology and transportation. The United Way in the Dutchess-Orange County Region, reported in 2021 that the same percentage — 25 percent — of households in Dutchess County fell into the Alice category.

There are economic and market reports that set records, reflecting positive growth and aspirations for a continued expansion — with chronic shortcomings in the mix. In 2023 there were 1,111 households on waiting lists for affordable rental housing in the 21 towns that comprise the Northwest Hills Council of Governments. It’s a similar story in Dutchess County, where, according to DATAUSA, 19.5% of the population was living with severe housing problems in 2022. From 2014 to 2022, the percentage expanded by 1.1%.

Latest News

Participants at annual conference encouraged to ThinkDifferently by respecting evolving etiquette norms

Top row (left to right): Panelist Shadei Williams; Dana Hopkins, Dutchess County All Abilities Program Director; panelist Johnny Vacca; Dutchess County Executive Sue Serino. Bottom row: (left to right): Panelist Wayne Robinson; panelist Tracy Wallace; panelist Samantha Van Alstyne

Provided

HYDE PARK, N.Y. — On Thursday, Dec. 5, the annual ThinkDifferently conference was held at the Henry A. Wallace Visitor and Educational Center in Hyde Park, New York. The conference strived to enlighten participants on evolving protocols for addressing and collaborating with individuals with challenges.

Hosted by Dana Hopkins, program director of All Abilities at the Department of Behavioral and Community Health, ThinkDifferently is an initiative first launched in 2015 by former county executive Marc Molinaro with a goal to provide services to individuals with varying abilities and guidance for others such as businesses and communities to help create a more inclusive society.

Keep ReadingShow less
Shooting the breeze with Christopher Little

Martin Tandler

Little with his dog, Ruby.

"What I really feel lucky about is having had the chance to meet and photograph so many people who had a real impact on our lives,” said Christopher Little whose new memoir, “Shooting the Breeze: Memories of a Photojournalist” was just released. The book is as eclectic and colorful as the man himself and offers an intimate look into Little’s globe-trotting career spent behind the lens, capturing some of the most iconic figures, events, and human stories of the past half-century.

In 2021, the Dolph Briscoe Center for American History at The University of Texas acquired Little’s photographic archive.

Keep ReadingShow less
Cold Spring, a not-so-hidden Hudson Valley gem

“Cold Spring, NY” depicts life in a notable Hudson River town with a rich history and much natural beauty.

Krista A. Briggs

According to Alissa Malnati, co-creator of the new coffee table tome, “Cold Spring, NY”, after twenty-five years in the urban jungle, it was time to go in search of a cure for the angst which, for some, can come with metropolitan living. “My husband and I were soul sick,” explained Malnati of the couple’s move to Cold Spring, a Hudson River town located in leafy Putnam County. “We were seeking restoration and quiet, and to be in nature, away from the hustle and bustle of the city.”

The time was right for a move in 2021. The Malnatis relocated from busy Brooklyn to a tranquil mountaintop abode which allowed them to decompress without the intrusion of cell phones and ceaseless city noise. With the shift to the Hudson Valley, Alissa, a writer and fashion executive, and her husband, Will, a podcaster and television producer, found the peace they were searching for in Cold Spring, a semi-rural town known for its boutiques, antique shops, and world-class hiking trails.

Keep ReadingShow less