Moore County Chamber of Commerce continues economic coverage from annual Economic Forum with mid-year economic update

By Staff Report, posted Aug 7, 2023 on BizFayetteville.com

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The Moore County Chamber of Commerce is working to keep their members and community updated on the status of the economy nationwide. 

Continuing coverage of topics covered in their Economic Forum in January, the MCC has partnered with event sponsor Theodore Hicks, CFP, CKA, CMT, founder of Hicks & Associates Wealth Management, to create a mid-year update video now available to view online. 

The 30-minute video highlights a number of topics including: 

• A look at the nation’s debt and the United State’s Long Term Debt being downgraded from ‘AAA’ to ‘AA+’ status by Fitch, the response and why it changed
• The total U.S. National debt as a percentage of Gross Domestic Product (GDP) 
• Federal Defense spending in relation to interest payments on U.S. debts
• The probability of the U.S. economy entering a recession and the economic factors that may lead up to it and more

All topics discussed were backed by data, economic and professional context, public information from experts and historical economic data points seen in economic patterns before. 

“Since my firm has been sponsoring the Moore County Economic Forum for seven or eight years now, Moore County Chamber CEO Linda Parsons asked me to shoot an update video for the members. Here is that update,” said Hicks in a LinkedIn post shared by the Chamber. “While I am not an economist and I do not make forecasts, I do look at the data in order to form my own opinion. (Acts 17:11 is one of my favorite verses and that principle applies here too.) So this is one of the ways I am looking at the data to determine what the weight of the evidence suggests.” 

The video was originally posted on Aug. 4 and can be watched in its entirety on YouTube here: https://www.youtube.com/watch?v=uv3TqoE6Qxg

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