I’ve been keeping my ear to the ground as far as the state of this country’s economy / financial markets goes. Sure, global housing bubbles are deflating, stock markets are having a tough time, there’s a global credit crisis, etc. Media outlets approaching “mainstream” are starting to drop the “R” word on a regular basis.
The thing is – I don’t see anything different on the street. A few people may be losing their jobs or homes, but the malls are still packed, the suv’s are still barreling down the roads, the help wanted ads are plenty long. I’m a not-particularly-high-end engineer, and I don’t personally know anybody losing their jobs or homes (though a few managed to refi before getting clobbered by arm resets). There were plenty of people at Best Buy making noises about those 50″ screens. I can’t SEE with my own eyes anything that looks like a broad recession.
What’s the deal? Are we in that period where we’re waiting for the full effects to hit? All my friends just happen to be in somewhat “insulated” industries? Am I shopping at the wrong stores?
