Still Looking for the Recession

I don't see an economic problem, other than the hype of "bad times" by the Media and Politicians. It is obvious that some people have slowed their discretionary spending but the number of "Sales" in the consumer market. However, that is offset by the number of open job requisitions for quality paying jobs that are out there - Industries are hiring for very good jobs - EDUCATION & EXPERIENCE required

In order to measure changes one needs a permanent measurement system. We have that in the definition of recession, depression, and other economic terms. The idea is that we should not change the meaning of words or terms for personal or political reasons. That way we can communitcate. At any one time different industries are going to be in a bad economic situation, just like individuals. We should operate based on our personal situation and not what we see in the news or election ads.

Does it ever occur to any of the financial pundits, fund managers, analysists, etc. out there that what they define as the state of the economy and what the citizens being polled view as to the state of the economy are not even in the same universe. All the financial experts use are the number of negative reports in a row, the magic charts and their lines, etc. to define the health of the economy. Citizens view the whole world situation, the amount of their savings, the state of their housing values, their upcoming financial situation, etc. to define their view of the economy. I just don't understand this lack of understanding of this gap by the financial world.

It's as if nobody is hungry when you are full.

No doubt all on "Credit Cards!!!"

Get real. Have you talked to people in construction or home renovation work? Have you visited somewhere else? Last weekend in Gulf Shores, Ala., I found places to park at a normally crowded hotel, and I could drive around without having to creep in heavy traffic. Have you talked to people trying to sell cars and trucks? Haven't you heard that hotels in Las Vegas are begging for business? Have you talked to people in state and local governments, which are cutting budgets after tax revenues are falling. Have you read stories about falling ad revenues in magazines and newspapers that are leading to layoffs? Have you talked to working-class moms and dads struggling to buy milk OR gasoline? It's the worst economic condition I've seen since 1980-82. WBK

I would have to agree. I think the Media is playing a large part in "talking" people into a recession mindset.

Try going Monday through Friday. That's the test of the economy, not Saturday. It takes more than a one day experience to figure the economic impact.

Hey Brian, You make a good point about your observations of our current economy. Most of the people i know, like myself, have made some changes in spending habits. However, these changes have been small at best. Most, if not all, seem to be in response to gas prices. This seems true no matter what tax brackett we reside in. Thanks!

You won't find evidence of a recession at the Water Club by Borgata... "Whoa! You lost me at Water Club by Borgata. Atlantic City’s first cosmopolitan hotel, which bills itself as “the ultimate resort destination,” charges $479 a room on Fridays and $529 on Saturdays during the summer..." "Holy Cow! Not Another Economic Forecast Devoid Of Evidence" http://www.boom2bust.com/2008/07/21/holy-cow-not-another-economic-forecast-devoid-of-evidence/

Everyone knows the people at the lower end of the ecomonic scale are the ones who are first to feel the pinch. Those with expendable income still have a little to spend. I always thought our family could have a small but average vacation. This year we are scraping and stretching to spend one night in at an Econo-lodge a couple hours from home. Keep dreaming of 'Wonderland' when the pinch wakes you up! You may join me in wishing for the money that seemed expendable when you were at the blackjack table.