Tag Archives: economic outlook for Dickinson North Dakota

The Intentional And Deliberate Collapse Of Dickinson, North Dakota

I am not writing this blog post solely out of hate, though I do hate many of the people in Dickinson, and I want to see them get what is coming to them, for what they did to me, and to other people.  Even so, I still feel like warning people, especially the ordinary, plain people who are usually the last to know anything.

The people in Fargo, Bismarck, and Grand Forks, the wealthy people, the bankers, the people at the highest level of government in North Dakota, they want to collapse Dickinson, North Dakota for several different reasons.

Everyone outside of western North Dakota is aware of the repeated and continual frauds committed in the Dickinson area:  enormous government funding and donation funding to build the St. Alexius Hospital which is an empty shell and inadequate;  Dickinson State University not-for-profit Foundation receiving investor funding and donations to build Hawks Point Assisted Living and the Biesiot Activities Center, yet not paying and denying liability for construction loans from banks;  $1 million private donation to open the Strom Center For Entrepreneurship and all the money is gone with no accounting for it;  Dickinson State University awarding hundreds of college diplomas to foreign students who never completed the curriculum; Civil Service Commission never once in its history ever siding with a City of Dickinson employee;  methamphetamine addicts running loose and out-of-control in the City of Dickinson.

Everyone outside of western North Dakota is aware of what has been going on in Dickinson, and it has been decided, that one of the ways to handle it, is to make Dickinson as small and inconsequential as possible, to collapse Dickinson.

For instance, the Theodore Roosevelt Presidential Library And Museum being constructed on the DSU campus was an idea that would have increased the enrollment at DSU, increased the importance of DSU, and brought many visitors and money to Dickinson.  The Governor of North Dakota, Doug Burgum, stepped in and used all of his influence and powers of persuasion with the board of directors of the Theodore Roosevelt Presidential Library And Museum Foundation to not build in Dickinson.

Another example, the president of DSU, Thomas Mitzel, came up with the idea, that DSU could become a polytechnic campus, providing certificates and degrees for people working in industries in the Dickinson area.  This idea would have been a tremendous boost for DSU and Dickinson.  The oil and gas industries would have gladly provided financial support to DSU for training that prepared people for employment with them.  Students from around the country would have been attracted to DSU for its ability to place graduates in high paying jobs in the oil and gas industry.  Not only did the State of North Dakota not listen to president Thomas Mitzel’s ideas, it cut DSU’s funding in order to show president Mitzel that he needed to leave.

The truth is, that the State of North Dakota does not want DSU to grow and prosper, it wants DSU to go belly-up.  It wants DSU’s enrollment, reputation, and status to decline so much, that there is clear justification to close DSU.  You just watch and wait to see all the ways the State of North Dakota has planned to decrease funding, eliminate programs, discourage administrators and professors, hire ineffective leadership.

As I have written in previous blog posts, the Banks have implemented lending policies so that people can not buy homes in Dickinson.  This will cause homes not to sell, sellers defaulting on their mortgages, and home prices in Dickinson falling drastically.

The intention is, to diminish the size of Dickinson, to collapse Dickinson, to make Dickinson about the same size as Bowman, New England, Belfield, Beach, Killdeer, Richardton, Taylor, Dodge, or Halliday.

With Dickinson being just a small-town gas stop on the interstate, it will merit only minimal funding from the State, and only minimal political influence.  At the same time, whatever oil and gas production that is occurring in western North Dakota, this oil and gas revenue won’t be going to Dickinson with its small population, it can go to fund projects in the more civilized areas of Fargo, Bismarck, Jamestown, and Grand Forks.

So what does this mean to the ordinary, plain people living in Dickinson?  It means that Dickinson is going to get smaller, and smaller, and smaller, to where it eventually looks similar to New England, Bowman, or Belfield.

This is not just due to the oil boom going away, the entire rest of the state, the bankers, the highest level politicians in the State, the Governor, they don’t want State funding to go to this area, and they want the oil and gas revenue money from this area to go elsewhere, not here.

When Dickinson shrinks to a small size, the people in this area become poor, and the property here becomes very cheap, it is certain that the bankers and the wealthy people in the eastern side of the State will buy up the land and mineral rights, and promote drilling and fracking in this area, which is one of their long term plans.  To financially ruin this area, so that they can then plunder this area for its resources.

The Truth About What Is Going To Happen To Dickinson, North Dakota

It is tiring, frustrating, and upsetting to me, to continue to see people in Dickinson refusing to recognize and acknowledge what is going to happen to Dickinson, North Dakota.  I don’t want to see anyone being taken advantage of, and that is the way that I look at what people are attempting to do in Dickinson, to deceive others for financial gain.

Why can’t everyone just accept and admit, that Dickinson already experienced an oil boom in the 1950s and the late 1970s, and that after each of these oil booms Dickinson experienced a contraction in the economy, many people losing high paying jobs, businesses closing, people moving away, property decreasing in value and becoming difficult to sell.  This most recent oil boom ended in 2015, there will be a continued decrease in the population of Dickinson, but no one will admit this, and everyone is pretending that this isn’t going to happen.

The very wealthy owners of the local banks in Dickinson, most of whom do not live in Dickinson, have already put in place lending policies that show that they understand what is going to happen in Dickinson: many people losing their jobs, many people moving away, properties decreasing in value, and properties becoming difficult to sell.  I will give three brief example of these local bank lending policies:

I wanted to purchase a manufactured home in Belfield on its own 75’x140′ lot that was for sale for $20,000 to $25,000.  This treed and grass corner lot with water, sewer, and electric to it was probably worth $20K, without even considering the 3br, 1ba fully furnished home in good condition with new siding, added enclosed porch, and added open deck.  I contacted five local banks, and each one of them said that they had been instructed to not make any loans on manufactured homes, no matter how much land was involved.

A neighbor of mine who is 53 years old, wanted to purchase a home in our neighborhood that was for sale for $130,000.  This neighbor had made about $45,000 per year for the past eight years with his current employer.  He is single, and he had just finished paying about $900 per month in child support for the past fifteen years.  If he continued to allocate this $900 per month toward house payments, he could have paid off this house mortgage in fifteen years.  The bank told him no, as if his income and eight year job history at the same company in Dickinson didn’t mean anything, like they were expecting him to lose his job and not be able to get another job.

Another neighbor of mine who is in his forties and single, he has made about $42,000 per year for the past four years with his current employer.  He wanted to buy a house, so he completed a mortgage application with a local bank.  The bank approved him for a mortgage of up to $80,000.  If you go on the internet and use a mortgage calculator, this $80,000 mortgage would have a monthly payment of less than $400 per month.  With a single man having a take-home pay after taxes of $2,700 per month, why would the bank calculate that he could only afford $400 per month on housing?  It’s like the bank didn’t expect him to keep his job, or be able to get another job.

From the three examples above, the local bank lending policies indicate that they don’t expect local people to keep their job, be able to get another job, and the banks don’t want to foreclose on properties in order to sell them to recover the unpaid balance on loans, because these properties will not be worth the unpaid loan amount, and these properties will not sell.

There are people and groups in Dickinson that like to talk about how Dickinson is growing, which isn’t going to happen the way that they say it is.  Dickinson is going to shrink and contract for at least the next several years.  I am tired of hearing about several specific examples of growth and prosperity in Dickinson, which in my opinion, these examples are hoaxes, as they aren’t going to happen any time soon:  the Davis Refinery, the Odyssey Theaters Cinema Complex, and the Dickinson Hills Shopping Center.

I have written about, and explained the proposed Davis Refinery west of Belfield twice before.  The original proposed cost of the Davis Refinery was $900 million, twice the cost of the Dakota Prairie Refinery west of Dickinson which was built by the huge utility company Montana Dakota Utilities.  How was the proposed $900 million Davis Refinery going to be built, by an investor group who had never built a refinery before, who were in fact seeking initial investments to help cover the cost of permitting and planning?  My personal opinion is that the proposed Davis Refinery developers have only raised $10 million to $40 million.

A year or two ago the City of Dickinson sold a public parking lot located behind the U.S. Post Office to Odyssey Theaters, supposedly so that they could build an 8 cinema movie theater complex.  Most people in Dickinson have noticed that there is a shortage of parking downtown, even more so now that the City of Dickinson sold a public parking lot that was almost always full.  Where are the customers of this proposed 8 cinema movie theater complex going to park?  Construction was supposed to start this Spring, meaning now, but I don’t think that construction will start this year.

The developers of the proposed Dickinson Hills Shopping Center asked the City of Dickinson about a year ago if the City would pay for the extension of Fairway Street into their development.  The City agreed to pay for this $1.3 million road extension if the developers could show that they had lease commitments from tenants.  A few months ago the City Attorney Jan Murtha did look over signed lease agreements from Hobby Lobby, T.J. Maxx, Shoe Department Encore, and Dollar Tree.  My opinion, is that although these four tenants signed valid lease agreements, there was no penalty to the developer if they did not move forward with construction.  My opinion, is that the developer wanted the access road into their proposed development, so that they could sell this property, and not move forward with construction at this time.

North Dakota Governor Doug Burgum, his Attorney General Wayne Stenehjem, and Wayne’s cousin Stephen Stenehjem CEO and president of First International Bank & Trust, have all had to deal with embarrassing business fiascoes in Dickinson many times in the past several years:  Dickinson State University awarding degrees to foreign students who did not complete the required curriculum;  the DSU Foundation having to be dissolved and held in receivership to determine what was going on and where the money went;  Hawks Point Assisted Living Facility on the DSU campus failing to repay their loan from First International Bank & Trust;  DSU and the DSU Foundation failing to repay their loans for the construction of the Biesiot Activities Center.

People in Fargo and Bismarck are very aware of the business practices and outcomes in Dickinson, North Dakota.  The Catholics collected and spent over $75 million in Federal grant money and donations to construct a new hospital in Dickinson, shutting down the old hospital.  Many knowledgeable health care employees and residents in Dickinson came to realize that the old hospital that was shut down, had more emergency medical care capabilities, more critical care capabilities, more medical treatment services, and a building with a basement that could withstand a tornado.

Therefore, when a group business people and Dickinson State University people got together and created the Theodore Roosevelt Foundation in order to raise funding to build a Theodore Roosevelt Presidential Library and Museum in Dickinson, the Governor of North Dakota stepped in and stopped that, No Way.  The people in Fargo and Bismarck are fully aware of how the people in Dickinson are.  No way were they going to allow a group of people in Dickinson to collect millions in government grants and donations, obtain construction loans, overpay contractor buddies to perform work, get a substandard inadequate facility, not repay the construction loans, and not be able to account for where all of the money went.

It’s not just the business practices in Dickinson that the rest of the state takes notice of, it’s how the people in Dickinson behave and treat other people.  This is another reason why the Governor of North Dakota intervened to not allow the Theodore Roosevelt Presidential Library and Museum to be built in Dickinson, because of how the visitors would be treated in Dickinson and how the people behave in Dickinson.  Here are some examples:

  • During the oil boom, the people in Dickinson quadrupled the rent that they charged the out-of-state workers.
  • During the oil boom, the people in Dickinson voted to not allow “Man Camp” temporary worker housing in the county to alleviate the housing shortage.
  • Though many, many people in Dickinson received windfall sums of money from oil wells on their property, the people in Dickinson deliberately refused to construct a homeless shelter.  Out-of-state workers who could not afford the quadrupled rent, slept in their cars, underneath bridges, in the bushes along the railroad tracks, on the embankments of drainage ditches, or outside behind the truck stop.
  • When the ratio of men to women in Dickinson was 3:1, the Dickinson Police made a fake advertisement for a woman offering sex on the internet. When a man called to arrange to meet her, the fake woman made up the statement that she was under 18.  The Dickinson Police then tried to charge the man with Commercial Sex Traffic of a Minor, a twenty year sentence, and he never even met the woman.
  • The bars and restaurants in Dickinson hire methamphetamine addict and heroin addict criminal women from Spokane, Seattle, and Coeur D’Alene to work as servers, performing no background checks.
  • The employers in Dickinson hire drug addict felons with multiple convictions, performing no or inadequate background checks.

Because of the end of the oil boom, the population of Dickinson will continue to decrease for years to come.  The people in Dickinson refuse to acknowledge this, and they even point to signs of growth which are actually hoaxes, that will not happen.  The very wealthy successful people like the local bank owners know what is going to happen in Dickinson, and they have practices in place that indicate they expect an out migration.

The Governor of North Dakota, the Attorney General of North Dakota, other wealthy successful people in North Dakota know all about the business practices in Dickinson, the business schemes of the people in Dickinson, what they do with government grant money and donations, how they don’t repay loans, how they are unaccountable for money, how the people in Dickinson treat other people, and how the people in Dickinson behave.  Not only did they intervene to prevent the Theodore Roosevelt Presidential Library and Museum from being built in Dickinson, they wanted to close down the Women’s Correctional Facility in New England, and they will probably seek the closure of Dickinson State University before long.

In the near future, Dickinson will begin to change more toward what New England, Belfield, and Richardton are like.  You don’t understand, this is what the wealthy, successful, influential people in Bismarck and Fargo want.  They do not want Dickinson to grow, they want Dickinson to shrink.  Not only do they not like Dickinson, and do not believe in Dickinson, they don’t want the oil revenue money from western North Dakota being wasted on improving Dickinson.  As far as they are concerned, they would like to see Dickinson as just unimproved grassland, and all of you Dickinson people gone, because you just can’t seem to change and get with the program, you remain backwards.

I Wish That I Could Force You To Understand Dickinson, North Dakota

I have been writing about Dickinson, North Dakota on this blog website for a little over four years now.  For those of you who don’t know why I started writing about Dickinson, it was because Dickinson, Williston, and Minot, North Dakota were the towns in the middle of the Oil Boom in North Dakota that occurred from 2007 through 2014, and I was living in Dickinson.

During the Oil Boom years, there was a great amount of chaos, confusion, development, excitement, optimism, hype, misinformation, and people being taken advantage of.  For those of you who don’t remember, have forgotten, or never knew what happened from 2007 through 2014 in Dickinson, here is a short synopsis:

Most people did not know that 2007 through 2014 was North Dakota’s third Oil Boom.  There was an oil discovery boom in the 1950s, and there was an oil market shortage boom in the late 1970s.  Dickinson had experienced an influx of oil field workers and oil companies before, in the 1950s, and the 1970s.  Well-informed people, well-educated people, and intelligent business people in Dickinson knew from past experience that these Oil Booms last about seven years, that’s why they are called a “Boom” in the first place.

However, even though there were very wealthy people, moderately wealthy people, influential people, politicians, elected representatives, large land owners, and community leaders in Dickinson who all knew from the previous two Oil Booms in North Dakota, that these Oil Booms last for about seven years, rather than trying to manage this Oil Boom in the most effective way for everyone, they either tried to benefit personally at the expense and suffering of others, or they did nothing to stop the taking advantage and suffering of others.

For those of you who were not here, or do not know what I am talking about when I write about the taking advantage of others and the suffering of others, I will explain:

All over the United States, television, radio, newspaper, and magazine media frequently announced that everyone working in North Dakota was making over $100,000 per year due to the Oil Boom.  This was not true at all, the average wage rate in western North Dakota was about $15 per hour at the time.

Believing that they were going to make $100,000 per year in North Dakota like they heard about, people who were struggling financially, or who were broke, used the very last money that they had to travel to Dickinson or Williston.  When they got here, one-bedroom apartments that had once rented for $300 per month, were now $1,500 per month.  With $3,000 due at lease signing for first month’s rent and security deposit, for the cheapest apartments available, most people could not afford a place to live.

Though business was booming in Dickinson, and many wealthy people were becoming even wealthier, there was deliberately and intentionally no homeless shelter in Dickinson.  The people who had been lured to North Dakota by the announcements that everyone was making $100,000 per year, ended up sleeping in their cars in the parking lot of WalMart or the Tiger Truck Stop.  Or, if they arrived in Dickinson by bus or by hitch hiking, they slept under bridges, in the bushes at Patterson Lake, or in the bushes behind businesses.  In the winter, it gets down to -30 degrees Fahrenheit in Dickinson.

When quick, short-term housing solutions, such as the permitting of temporary housing called “man-camps” were proposed, the building permits were denied, due to citizens of Dickinson supposedly fearing “rape” from all the men.  However, the permits for many, many large apartment complexes were approved, even though the occupants would be the same men who would have lived in the man-camps, who were feared for “rape”, but apparently not if they paid $2,000 per month rent for a new apartment.

During the Oil Boom of 2007 through 2014, I witnessed many, many people arriving in Dickinson who were financially broke, who had been lured here by television, radio, newspaper, and magazine announcements about everyone making $100,000 per year in North Dakota.  This was not true, even after living in Dickinson for six years, I have only ever personally met about three or four people who made $100,000 for even one year, working in the oil field.

One of the very first things that I tried to do when I started this blog website four years ago, was to try to get the information out there, that most people were not making $100,000 per year in North Dakota or the oil field, that this was a lie.  I tried to explain what the employment situation was really like.  I tried to explain that only young men between the ages of 18 to 30 years old, who were able-bodied, in good physical condition, with no physical defect, would even be considered to start out working on an oil drill rig, where they would work 12 hours per day, for fourteen days in a row, at about $23 per hour, and make nearly $100,000 per year.

I tried to explain in my blog posts that the vast majority of the job openings in North Dakota were not on an oil drill rig, some were in the oil field, what these other oil field jobs were, what skills and abilities these other oil field jobs required, what it would be like working in the oil field, and what other jobs there were in Dickinson.

I also wrote blog posts explaining that there was a shortage of housing in Dickinson, and that housing was very expensive.  I tried to counter what the television, radio, newspapers, magazines, Chamber of Commerce, North Dakota Job Services, business owners, and politicians were saying in order to try to get people from all over the United States to move to Dickinson or Williston, not knowing what they would be getting into.

During the Oil Boom, I had jobs where I was paid $12 per hour, $15 per hour, $16 per hour, $17, $18, $19, and $20 per hour.  But I had a college degree in engineering, management experience, experience operating heavy equipment, experience in construction, experience in heavy mechanical equipment assembly, and I was able-bodied.  From what I saw, from the people that I worked with, and my experience living in Dickinson, the average hourly wage was about $15 during the Oil Boom.

There were times when the local WalMart paid $15 per hour.  But many businesses paid less than $15 per hour for store clerks, front desk people, customer service people, retail workers, fast food workers, restaurant workers, drivers, general laborers, caregivers, and many other jobs.  For instance, the TSA at the Dickinson airport paid officers $14 per hour.

At the same time that the average hourly wage in Dickinson was about $15 per hour, some of the cheapest old one-bedroom apartments rented for $1,500 per month.  If a person worked for 50 hours each week at $15 per hour, with overtime pay that comes out to about $820 per week before taxes, about $700 per week after taxes, and a take home pay of about $2,800 per month.

Starting out with a take home pay of $2,800 per month, and subtracting rent $1,500; utilities $150; cell phone $50; car insurance $100; car payment $200; fuel $150; leaves $650 left over for the entire month for food, clothing, and everything else.  That’s less than $20 per day that you could spend on food.  What if you had a child, a medical emergency, or a major car repair?

I wondered, and I wrote about, what kind of people would double, triple, and quadruple the rent and housing prices in order to gouge and take advantage of the out-of-state workers who came to Dickinson, many of whom were struggling financially to begin with or were completely broke?

You need to know and keep in mind, that outside of Dickinson there is more vacant, barren, flat, undeveloped land than almost anywhere else in the United States.  There is no scarcity of land to build on. The land outside of Dickinson is almost as vacant as the deserts of Arizona, Nevada, or Utah.  Though the land outside of Dickinson is not as dry as the desert, it is very, very cold in North Dakota from October through April, that’s seven months out of the year, and this is one of the reasons why there are less than one million people living in the entire state of North Dakota.

With such an abundance of vacant, barren, undeveloped land, why were the rent prices in Dickinson and Williston higher than any place else in the United States, higher than even New York City and San Francisco?  The local people liked to say that it was a matter of supply and demand, low supply of housing, and a high demand for housing.  But like I just got done explaining, there is more vacant, barren, undeveloped land outside of Dickinson, than almost any place else in the United States.

Keep in mind, that the well-informed people, well-educated people, the intelligent business people, the wealthy people, and the large land owners in Dickinson knew about the oil discovery boom in the 1950s, and the oil market shortage boom in the 1970s that occurred in North Dakota.  They knew from these previous two Oil Booms, about all the workers and oil companies that come to North Dakota during the Oil Booms.

The doubling, tripling, and quadrupling of the rent and housing prices that occurred in Dickinson, was not merely a matter of supply and demand.  There was more to it than that.  If you have foreknowledge that something is going to occur, where people will experience a scarcity or lack of some necessity, and you seek to take advantage of this scarcity, and even take steps to keep this scarcity from being alleviated so that you can personally benefit financially, you are unethically taking advantage and gouging other people.  I will give a couple of examples for you to think about:

When a hurricane was approaching the east coast of the United States, and everyone needed to prepare for an emergency, some businesses used to sharply increase the price of fuel, drinking water, plywood, generators, and other emergency supplies.  Do you know that this practice is now illegal, and that business owners are now criminally prosecuted for this?

What if you and your business associates created or helped form a retirement community in Nevada, an isolated community consisting of modest, inexpensive, single-wide manufactured homes on 50 ft. x 100 ft. lots, for sale for about $50,000.  Once each of these modest manufactured homes had been sold, what if you doubled, tripled, and quadrupled the price that you charged for water, knowing that there was no other water service available, and that the cost to drill a well would be about $20,000, which these low-income residents would be unable to afford?

Just because someone can see a way to take advantage of and gouge other people on the price of a necessity that they will need, this in no way means that this is ethical, moral, or even legal.

What was actually going on in Dickinson and Williston, was that the wealthy people, the business owners, the property owners, elected representatives, politicians, community leaders, spokespeople for the oil industry, and spokespeople for the North Dakota Job Services continued to perpetuate the lie that everyone who moved to North Dakota for work was making $100,000 per year, even though they knew that this was not true, that they would make much less money than this, and that more than half of their pay would be spent on housing because they had quadrupled the price of housing in North Dakota.

The reasons for spreading this lie all over the United States and luring people to North Dakota were:

  • To bring as many people as possible to the state to be able to rent, lease, and sell all property available.
  • To bring as many people as possible to the state to occupy or buy all property available, to cause a shortage, and be able to greatly increase rents, leases, and property prices.
  • To cause the need, the requirement, or the perception, that there needed to be new apartments constructed, new housing constructed, new retail stores constructed, new grocery stores, new schools, new hospitals, and new infrastructure like water towers and roads.
  • To lure property developers and business entrepreneurs to the state build developments and start new businesses.
  • To bring customers to the state to increase business and sales.
  • To greatly increase tax revenue to the state in sales tax, personal income tax, and property tax revenue.
  • To bring a surplus of workers to the state to try to keep wages low.

After writing about all of this for four years, I realized or discovered several surprising, sinister schemes.  What is even more surprising, and kind of funny, is that most of the people who sought to take advantage of others and be predatory, have been set up for financial ruin, and they don’t even know it yet.  I will explain.

The ordinary people in Dickinson, whether local people or from out-of-state, each of them are aware of only a fraction of what is going on.  They are often very susceptible to lies and misinformation, their circumstances in life change greatly when their rent is increased, their hourly wage rate is increased, or they lose their job.  They are practically slaves or livestock, and they don’t even know it.  They were likely to parrot the phrases that they were taught, such as “This Oil Boom is going to last for the next 20 years”, and then later “The Oil Boom is coming back” or the ever perpetual phrase “Things are starting to pick up again.”

The business people, business owners, property owners, property developers, elected representatives, Chambers of Commerce, oil industry spokespeople, and North Dakota government agency spokespeople, were or are, kind of like the herders, shepherds, shearers, fleecers, milkers, and egg gatherers of the ordinary people, who are like slaves or livestock.

The business people, business owners, property owners, property developers, elected representatives, Chambers of Commerce, oil industry spokespeople, and North Dakota government agency spokespeople thought that they were all in agreement, all with the same program, of continuing to encourage people to move to North Dakota because it accomplishes their goals of having customers, making sales, having properties rented or leased, having properties sell, keeping property values high, and keeping tax revenue coming in.  So they all keep making announcements that there are thousands of high paying job vacancies in the oil field of North Dakota, even though there aren’t.

But when I, and several of my friends were unable to get home loans from banks in Dickinson recently, I discovered something odd.  Eventually I realized that there is an entirely different plan in place, that is unknown to 99.95% of the people in Dickinson.  The wealthiest 0.05% of the people in Dickinson, which includes the local Bank owners, have a completely different plan.

Despite what the business owners, property owners, property developers, Chambers of Commerce, oil industry spokespeople, and North Dakota government spokespeople are saying about the thousands of high paying job vacancies in the oil field in North Dakota currently, in order to try to keep the economy going, the Bank owners and the wealthiest 0.05% are preparing for an economic collapse.

When I and several of my friends were denied home loans recently by Banks, even though our income was sufficient to make the mortgage payments, and we had each been at our present jobs for more than four years, it was like the Banks were saying, “Even though you currently earn enough money to make the mortgage payments, and you have been at your present job for more than four years, we don’t believe that you will keep your job, or be able to get another job in Dickinson, and we don’t want to foreclose on a property that will be worth much, much less than your mortgage with the bank.”  In other words, the Banks are preparing for an economic collapse in Dickinson, where many people will lose their job, be unable to get another job, and property values will fall.

I began to realize that what the Bank owners know, what the wealthiest 0.05% of North Dakotans knew all along, was that these Oil Booms in North Dakota last about seven years.  You can make money on the way up, you can rent properties, lease properties, sell properties, build some properties and sell them, but you need to sell or hold during the way up, don’t buy anything, unless it is very early on.  The real money to be made, is when the economic collapse comes, then you can buy businesses, equipment, buildings, houses, and properties for 10% of what they cost.

The funny thing is, that the business people, business owners, property owners, property developers, Chambers of Commerce, oil industry spokespeople, and North Dakota government spokespeople, all believed that they had the same goal, were on the same page about growth, and keeping the economy going, when all along the wealthiest 0.05% of North Dakotans were just eagerly awaiting the economic collapse that was inevitable.

The business people, business owners, property owners, and property developers that were kind of the herders, shearers, fleecers, milkers, and egg gatherers of the ordinary working people, taking advantage of them and gouging them on rent, leases, and real estate, once the economy in Dickinson collapses, they will be broke or in a very bad financial position.  The wealthiest 0.05%, who knew this was coming years ago, have been waiting for this.

Business people, business owners, property owners, and property developers that once took advantage of other people, will then be taken advantage of.  Whatever they built, created, bought, or owned, they will end up losing it, and perhaps be paid 10% of what it cost them.