What do you use to evaluate how the economy is doing? Someone said a recession is when you are out of a job, a depression is when I am out of a job. So much is perception. I know my salary was cut last year but I am so much better off than millions.
I have an unofficial barometer: Traffic. How many people are on the freeway at the time to go to work. It isn’t very scientific and has no consistency, but I can see it.
Recently I was in Sin City, Las Vegas for DEFCON. If traffic was an indicator, the economy is doing well. Almost everywhere I went it was heavy and slow. People were out. When I flew in the airplane was full. When I drove home the interstate was heavy. All indications were that the economy was cooking.
But wait a minute. I was at dinner with some of my son’s friends. One of the members of the party was a bartender at one of the local big name, hot spots. I won’t mention the name to protect the identity of the not so innocent. He said that the season had still not started and it was way past due. Business was slow. All indications were that the economy was not cooking.
It was happening at Chipolte. This is a chain of restaurants that is expanding across the country. Twice I entered a Chipolte only to turn around and leave because they were so jammed.
My analysis? Many are out of work. Those with work are still traveling and seeking entertainment but they are being more frugal with their money. They are budgeting. They are stopping at the places that give them more value for their money.
If you are out of work, I feel for you. I thank God on a regular basis that I am still employed. I hope things will get better for you. Those still working are gaining in wisdom.
Sometimes wisdom is hard won.
Remember, elections matter. November is coming.
homo unius libri
Actually, with all the commercial and government satellites overhead, I am surprised that some entity does not scope out traffic and use it as an economic indicator.
ReplyDeleteIf they do, I get the patent, or is it a ride in a black helicopter?
ReplyDeleteOne or the other.
Grace and peace
Every day on the phones, I talk to people who are going out of business. Some blame it on the Obamaconomy, some don't, but going out of business is still going out of business.
ReplyDeleteObamaconomy is just the current version of a growing tax and control mentality. It is all about control and free enterprise cannot thrive under control. I always enjoy explaining to my students how much of their first paycheck will be missing because of all the various taxes they will pay. And the teachers' union wants to raise taxes more.
ReplyDeleteCut my salary. Lay some of us off but don't raise taxes or we will never get recovery.
Grace and peace