Well, I’ve lived her since ’99 and it *seems* to me that things have slowed somewhat.
I was at Wine Steals in Hillcrest last nite and the place was half empty, when its usually packed. Costco is almost empty during the week, though still a madhouse on weekends.
I think much of this is perception and if you look for crowds you will find them. And I’ll have to admit the converse is true as well. Gotta watch the confirmation bias both ways.
I will comment that, in my opinion, we are only in about stage 1 (of 3) of the credit collapse. The bond insurers still have to go under and UE and interest rates are going to go up in step with rising commodity prices. We’ll see some capitulation then.
