Street smart economics: know when to hold 'em and when to fold 'em.

• Position: 29th Annual Economic Outlook Seminar

Walmart and Lowes coming to town, international visitors showing up in Montana after being absent for decades, and housing prices climbing ever higher in certain areas of the state were all predictable economic events. Savvy business owners with a strong understanding of economics probably figured out a way to survive, or maybe even profit from these happenings. They understood when to hold on to their cards, meeting the challenges of new competition or unstable markets. They also knew when it was time to fold a weak hand when faced with a non-win situation.

Economic literacy--understanding how local, national, and global economies work and are linked--is an effective tool for making realistic and profitable business decisions. Individuals who have a solid gasp of economic principles better understand the forces that significantly affect the quality of their lives. At the 29th Annual Montana Economic Outlook Seminars, researchers will discuss economic education and the important role Montana businesses play in bringing a localized focus to this new mission.

As in past years, the seminar will highlight the latest economic trends and what they mean for Montana. In looking at the national economy, Bureau Director Paul Polzin notes that President George Bush's economic performance earns an 'A' on its midterm report, however the final grade is going to depend on how the administration deals with the expanding deficit. In addition to the national picture, forecasts will be presented for Montana and...