Ok, I'm sure my readers are tired of hearing and seeing about my weekend and as luck would have it, I was planning on getting all philosophical on your asses today anyway. Well, only mildly philosophical. At least it will make you think, maybe.
We all know that we're in a recession....hell, borderline depression from an equities market standpoint at least. We see our 401(k) statements cut in half. We see the Dow dropping every day. We hear about tens of thousands of people losing their jobs every week and 8.1% unemployment. We hear about the number of foreclosures setting all sorts of records.
Over the winter I was in Vegas and it didn't look like a recession. Lots of gamblers. Lots of people on the strip. The hotel wasn't dirt cheap. Lots of people at the airport.
I also went to Key West for a wedding. Certainly lots of travelers at the airport again.
Just got back from Phoenix. Hotels weren't cheap. Car rental wasn't cheap. Airport was packed at 5:00 on a Wednesday with people LEAVING.
There's still a line at Starbucks in the morning.
If I didn't see my financial statements and didn't listen to financial news, would I even know that we were in such trying economic times? Would you? There are basically no foreclosures in the Chicago area to speak of (certainly not significantly higher than any statistical norms). Even if I knew someone who lost their job DUE TO THE RECESSION, it wouldn't be out of the ordinary for me to know someone who is unemployed anyway. Hell, lots of my friends have been unemployed for various periods of time.
So if you didn't hear about the stock market or see your 401(k) statements, how would you know we're in such dire economic straits? Would you know?