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Originally Posted by Ustwo
People are still shopping, and shopping like its going out of style in pretty much the entire Chicago area. I'm waiting in lines worse than xmass from Costco to Best Buy, Stein Mart, Borders, to Tiger Direct.
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yes, it's a trend that as economic times get worse, recreational shopping tends to go up a bit. People looking for escapism from the crappy times. This is exacerbated in modern times by credit cards, which let you buy all sorts of shit that you don't have the money for.
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Unemployment is still very low
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1) unemployment does not measure the quality of jobs. It only says whether or not someone who actively wants a job can have one. The downsized midlevel corporate manager who now mops floors at McDonalds does not negatively impact unemployment scores. So, while there are lots of people working, lots of them are making considerably less than they were before W screwed up the economy.
Interest rates are low when they're trying to stimulate the economy. You don't have to stimulate a good economy.
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yea some people who never should have had some homes will lose them but I just don't see where this looming danger is.
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1) we're a nation that is on a personal level in debt up to our eyeballs.
2) we're a nation that is on a national level in debt up to our eyeballs.
3) we're a nation that is spending billions on a war that we shouldn't be in while failing to spend money on infrastructure, which is crumbling around us.
4) one of our 3 major auto companies is in serious danger of going belly up (any time you see "employee pricing" on a Corvette Z06, you know they're in deep shit)
5) China owns us.
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I'm thinking economists job is to make predictions and repeat them enough that people react to them as if they were true, making them in fact come true.
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No, that would be swiftboatians
