Tacks in the Road
(Continued from page 4)
Nevertheless, there are some warning signs on the horizon. Nurses, railroad
workers and many other groups are demanding headline, double-digit annual
wage increases in multi-year contracts that will be hard to counter. Corporate
margins are under pressure as a result, and earnings expectations are being cut
for the 3rd quarter. Real wages (adjusted for inflation) are still negative, and
higher prices may erode the improvement in household balance sheets that
occurred during the pandemic by the end of the year. With a national debt
of $30 trillion, every 1% increase in interest rates now raises our annual debt
service by $300 billion.
Internationally, the economic outlook is even more challenging. China is
feeling the effects of slower growth and COVID lockdowns. Europe is facing
high inflation and severe energy shortages that are pushing factories to close and
businesses to go bankrupt. Europe is facing a very difficult winter. All central
banks are raising interest rates to counter inflation, but the strength of the dollar
is making the task more difficult. A strong dollar raises the local currency prices
of imported goods denominated in dollars, like food and energy, adding to
local inflation. Many developing countries are also being pinched as a strong
dollar raises the local currency requirements needed to service their dollar-
denominated debts. Many countries are on the verge of insolvency. The war in
Ukraine continues to cast a pall over economic activity everywhere. The odds of
a global recession occurring soon haven’t been this high for 15 years.
Closer to home. Change is inevitable—we can’t stop it, and it’s all around
us. The magnitude of change underway on our coast was evident during a
recent dinner meeting of the Carteret County Mayors’ Association. For a bit of
background, local mayors and town managers get together periodically with
county officials to share information about recent developments. The pandemic
created a temporary hiatus in this process, so this recent event, hosted by the
always welcoming and loquacious mayor of Newport, Dennis Barber, was the
first for some time. Every mayor had an opportunity to bring everyone up to
date on what was going on in their towns. The unanimous opinion of everyone
present was that we have been discovered.
Second-home owners and visitors came here from the big cities to escape the
pandemic, to work or go to school remotely, and many never left. Many others
decided that this is a good location to set up a permanent camp for whatever
the future might bring. Mayor after mayor recited the litany of new residential
housing developments, commercial establishments and new business ventures
that had come or were planning to come to their towns. Carteret Cormty is
definitely growing at breakneck speed, and the large number of projects in the
pipeline and eventual completion of the 1-42 corridor guarantee that rapid
development will continue. This is likely to expand and diversify our economic
base and make us less dependent on seasonal tourism.
While some welcomed this growth, others were more circumspect. Growth
comes with many challenges to our natural environment, traditional way of life
and infrastructure needs for affordable housing, schools, workforce training,
police and fire departments, roads, utilities, and treatments of all the trash,
stormwater and other waste streams that accompany development. Many local
governments need financial help now to accommodate this growth.
Thanks to our staff and citizen volunteers. In Pine Knoll Shores, we strive to
preserve our small-town friendly atmosphere, where taxes are low and it’s easy
to get personal service from town staff. We have excellent Police, Fire and EMS,
and Public Services departments and a town hall administration that keep us
safe, healthy, comfortable and green. The active participation of our residents
in civic activities and service to the town is an additional source of strength.
We have a pool of volunteers that contributes their experience and talents to
our goals through participation on the Planning Board, Strategic Planning
Committee, Community Appearance Commission, History Committee, Ad Hoc
Library Committee, Board of Adjustment, Parks and Recreation Committee,
Pedestrian Planning Committee, Community Emergency Response Team
(CERT), Volunteers in Police Service (VIPS), PKS Council on Aging, volunteer
firemen and as editors of The Shoreline.
Our volunteers come from a variety of backgrounds, and they bring opinions,
experiences and points of view to the table whenever they are present. They
are citizen stakeholders who directly shape town policies by making their
preferences known on many important issues. They are a tremendous resource,
and their insights and involvement help us stay on top of the constant changes,
rapid growth and re-development that we are experiencing.
Community involvement and engagement contributes to our small town’s
sense of place, saves us money and is a major component of our community’s
attractiveness. Our volunteers are extremely important to us, and their
contributions to our quality of life deserve recognition. Our lives are better as a
result of their work, and they help us manage the changes that are coming. As
mayor, and on behalf of the town and the Board of Commissioners, I want to
thank both our staff and our citizen volunteers for their valuable inputs.
Pumpkin spice isn’t my favorite, but apples and cinnamon are something else.
Happy Halloween! Thank you, and be safe. Feel free to contact me on any issue
at mayor@townofpks.com or by cell 252- 622-2338.
Vision and Mission Statement
Our vision is to provide a quality environment in which our
citizens are safe and secure, where individual talents flourish,
and everyone enjoys the natural resources of the area.
It is the mission of the Town of Pine Knoll Shores to provide
for the safety and well-being of all residents and visitors in an
eflicient and well-organized manner; develop and implement
plans for the continuous improvement of the town, its services,
and preservation of its natural environment; and encourage
the participation of residents in service to the Town and
community.
October 2022 I The Shoreline 9