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Article: STATE ECONOMY RETURNS 'TO RELATIVE STABILITY"
- Article from:
- THE JOURNAL RECORD
- Article date:
- March 10, 1989
- Author:
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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Oklahoma's economy is on the way back, said Dr.
Robert Dauffenbach Thursday in his address at the 10th annual
Oklahoma Economic Outlook Conference.
Author of the yearly publication "Oklahoma Economic Outlook" and
professor at Oklahoma State University, Dauffenbach expressed
cautious optimism.
"The worst is over," he said. "We have weathered the storm. We
are survivors . . . The bleeding has stopped. The healing process
has begun. Yet we have only achieved relative stability."
"The worst" began roughly with the failure of Penn Square Bank
on July 5, 1982. Consequent layoffs and falling real estate prices
"ignited a negative psychology in this state," Dauffenbach said. "By
now, all ...