Or is this entire thing just a hoax?? I made this post on my blog, thought id share …
Go to ANY club on a Friday or Saturday night .. they are PACKED with people waiting to get in! Same goes for most popular bars like the turtle, element, etc.
Go to any mall! I went to palisades mall over the weekend, it took my 30 minutes just to find parking! 2 stores that we went into had lines so bad that we dropped our stuff and walked out.
So you have the youth spending money like water, and the adults spending money like water. Who is left that is NOT spending money?!
Yes we have an unemployment issue, which is horrible, but it doesn’t seem to be effecting much!
And these analysts have the stones to compare this situation to that of the great depression?! Are they on drugs?? Time warp yourself back to that time, were the nightclubs booming? Were the malls over packed beyond capacity? NO! There wasn’t a dime being spent anywhere, because nobody had the money!
So what are we in, you might ask. Well I don’t have that answer, but I’m starting to think we aren’t currently in a recession, but instead we are witnessing and experiencing an economic correction. This country has spent the last 20 or 30 years inflating itself, and we are seeing the correction now. Why doesn’t he government realize this and let it just correct itself?
As for these big companies? Screw um! They built themselves up so big in order to deal with the inflated economy, and now that the demand isn’t so great, they want our help?
Imagine this; a pizzeria on the corner of main street has room for 3 tables in its store. Doesn’t need much more because there is only one house in this neighborhood! But one day a rush of developers come in and build up 1000 new small homes around this pizza shop! People move in, and the pizza shop expands to handle the new business! They add a wing on the side of the building, they add an upstairs dining area, and a huge parking lot! They even hired 200 people to work there! The taxes for this building nearly quadrupled, but its okay because of all the new business! NOW one day for whatever reason, those 1000 homes go away. The people are gone and the pizza shop is left with this HUGE building and paying 4 times the bills he used to! Following today’s standards of economic savior, this pizza shop would get money from the government to stay open. But why should he?? It was HIS idea to become so large and make money off this rush of business. It was HIS pocket that got fat when business was booming! But now that his plan backfired, WE have to pay the bill for this guy to keep his doors open?? Okay so its terrible the 200 people who worked there have to lose their jobs. But these jobs didn’t exist before, so is there anything really lost?? If anything those 200 people should just be happy they had work for that time, now they should go back to whatever it is they were doing.
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Comment from a buddy who doesnt have blogger:
ReplyDeleteDude I agree, yes unemployment is a problem but at the end of the day its @ 7% last time I checked.. Yes up quite a bit from the 4% we were @ during the boom..But still 93% of America is working.. Still the lowest in the world by far when compared to Europe… The thing the economy has an outrageous GDP during the economic boom from 03 till late 06 and since those #’s have come down we are now in a crisis..If the media and the government want to instill all this fear of course people wont spend as much as they did.. And who the hell ever said if you don’t continue an economic boom forever it’s a crisis once #’s start slipping?? Totally agree correction not crisis…
1) People need to pay down all the debt they a massed before big spending starts again.. Not a bad thing…
2) Foreclosure will have to be bought fixed up and resold to raise real estates values which takes a few years… Also a well needed correction not a bad thing..
I have been saying the same thing for awhile!. So much in common! Funny my sisters bf was saying the same.. He is a Manager @ PC Richards said the sales have never been better since Circuit City closed.. Again Market Correction, Circuit City was an overload on the market so they lose and Best and PC win because they demand is enough to keep those 2 stores running well..
Cant we just calm down and let things correct??