where is the recession?

[kev374]

I believe this has been brought up before but would like to make this observation yet again. I was at the “Block at Orange” yesterday. The facts:

– I had to drive around for 25 minutes to look for a parking spot because the crowds were just massive, every available parking spot was taken.

– The stores were PACKED beyond belief and people were exiting chock full of merchandise that they had just purchased.

– The movie theater was FULL.

– The restaurants were FULL UP. Went to a bowling alley and there was a 3hr wait because of people ahead of us. The restaurant that we went afterwards was also PACKED.

Eating out is not cheap. If I lost my job or were not feeling secure about prospects I would cut back but I don’t see this happening. If we were in a recession shouldn’t this be reflected at the malls?

Is this a sign that the economy is still going strong? Is it a sign that people just don’t care and are using up every last drop of credit they have?

[kewp]

Is this a sign that the economy is still going strong? Is it a sign that people just don’t care and are using up every last drop of credit they have?

That could be it. I saw on the news yesterday that consumer credit card usage was surging. I’ve made the analogy before that its almost midnight and everyone is making a run on the punchbowl before the last of the kool-aid is gone.

I mean, heck, if you are planning on filing bankruptcy anyway, might as well go out with a bang!

Anyways, there are still a few shoes left to drop before I’ll have confidence in our economy.

One, the bond insurers go under and the banks have to unload their REO’s for whatever the market will bear. Over-leveraged banks will go under as well.

Two, the era of cheap credit has to come to an end.

[kewp]

Is this a sign that the economy is still going strong? Is it a sign that people just don’t care and are using up every last drop of credit they have?

That could be it. I saw on the news yesterday that consumer credit card usage was surging. I’ve made the analogy before that its almost midnight and everyone is making a run on the punchbowl before the last of the kool-aid is gone.

I mean, heck, if you are planning on filing bankruptcy anyway, might as well go out with a bang!

Anyways, there are still a few shoes left to drop before I’ll have confidence in our economy.

One, the bond insurers go under and the banks have to unload their REO’s for whatever the market will bear. Over-leveraged banks will go under as well.

Two, the era of cheap credit has to come to an end.

[kewp]

Is this a sign that the economy is still going strong? Is it a sign that people just don’t care and are using up every last drop of credit they have?

That could be it. I saw on the news yesterday that consumer credit card usage was surging. I’ve made the analogy before that its almost midnight and everyone is making a run on the punchbowl before the last of the kool-aid is gone.

I mean, heck, if you are planning on filing bankruptcy anyway, might as well go out with a bang!

Anyways, there are still a few shoes left to drop before I’ll have confidence in our economy.

One, the bond insurers go under and the banks have to unload their REO’s for whatever the market will bear. Over-leveraged banks will go under as well.

Two, the era of cheap credit has to come to an end.

[kewp]

Is this a sign that the economy is still going strong? Is it a sign that people just don’t care and are using up every last drop of credit they have?

That could be it. I saw on the news yesterday that consumer credit card usage was surging. I’ve made the analogy before that its almost midnight and everyone is making a run on the punchbowl before the last of the kool-aid is gone.

I mean, heck, if you are planning on filing bankruptcy anyway, might as well go out with a bang!

Anyways, there are still a few shoes left to drop before I’ll have confidence in our economy.

One, the bond insurers go under and the banks have to unload their REO’s for whatever the market will bear. Over-leveraged banks will go under as well.

Two, the era of cheap credit has to come to an end.

[kewp]

Is this a sign that the economy is still going strong? Is it a sign that people just don’t care and are using up every last drop of credit they have?

That could be it. I saw on the news yesterday that consumer credit card usage was surging. I’ve made the analogy before that its almost midnight and everyone is making a run on the punchbowl before the last of the kool-aid is gone.

I mean, heck, if you are planning on filing bankruptcy anyway, might as well go out with a bang!

Anyways, there are still a few shoes left to drop before I’ll have confidence in our economy.

One, the bond insurers go under and the banks have to unload their REO’s for whatever the market will bear. Over-leveraged banks will go under as well.

Two, the era of cheap credit has to come to an end.

[masayako]

Housing market and auto industry is in recession, but not the rest of the market.

[masayako]

Housing market and auto industry is in recession, but not the rest of the market.

[masayako]

Housing market and auto industry is in recession, but not the rest of the market.

[masayako]

Housing market and auto industry is in recession, but not the rest of the market.

[masayako]

Housing market and auto industry is in recession, but not the rest of the market.

[Ex-SD]

kewp: I also read the article about credit card debt. I think that the mindset of many people today is spend, spend, spend because if they lose their job, they will just declare bankruptcy. I recently read that the majority of the country has almost no money in the bank and lives from paycheck to paycheck. They have become so addicted to the “I must have it now” way of life that they put themselves in debt up to their eyeballs to have the latest widget/gadget.

On the other side of the fence, the people who are presently saving their money or have a long history of saving their money are being punished with ridiculously low interest rates because of the same irresponsible bunch that bought houses they couldn’t afford and are now spending like drunken fools with their credit cards.

Debt, debt, debt…………….it makes my head swim that people can sleep at night when they have so much debt.

[Ex-SD]

kewp: I also read the article about credit card debt. I think that the mindset of many people today is spend, spend, spend because if they lose their job, they will just declare bankruptcy. I recently read that the majority of the country has almost no money in the bank and lives from paycheck to paycheck. They have become so addicted to the “I must have it now” way of life that they put themselves in debt up to their eyeballs to have the latest widget/gadget.

On the other side of the fence, the people who are presently saving their money or have a long history of saving their money are being punished with ridiculously low interest rates because of the same irresponsible bunch that bought houses they couldn’t afford and are now spending like drunken fools with their credit cards.

Debt, debt, debt…………….it makes my head swim that people can sleep at night when they have so much debt.

[Ex-SD]

kewp: I also read the article about credit card debt. I think that the mindset of many people today is spend, spend, spend because if they lose their job, they will just declare bankruptcy. I recently read that the majority of the country has almost no money in the bank and lives from paycheck to paycheck. They have become so addicted to the “I must have it now” way of life that they put themselves in debt up to their eyeballs to have the latest widget/gadget.

On the other side of the fence, the people who are presently saving their money or have a long history of saving their money are being punished with ridiculously low interest rates because of the same irresponsible bunch that bought houses they couldn’t afford and are now spending like drunken fools with their credit cards.

Debt, debt, debt…………….it makes my head swim that people can sleep at night when they have so much debt.

[Ex-SD]

kewp: I also read the article about credit card debt. I think that the mindset of many people today is spend, spend, spend because if they lose their job, they will just declare bankruptcy. I recently read that the majority of the country has almost no money in the bank and lives from paycheck to paycheck. They have become so addicted to the “I must have it now” way of life that they put themselves in debt up to their eyeballs to have the latest widget/gadget.

On the other side of the fence, the people who are presently saving their money or have a long history of saving their money are being punished with ridiculously low interest rates because of the same irresponsible bunch that bought houses they couldn’t afford and are now spending like drunken fools with their credit cards.

Debt, debt, debt…………….it makes my head swim that people can sleep at night when they have so much debt.

[Author]

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