Dr Andy

Ummmm... groceries have gone up but not as much as gas. The price of beer is up from last summer! That should start a revolt right there! Airlines are charging for checked baggage.

TG78

Im sorry but the media is painting a much prettier picture then what is actually going on. The reason the lines are long and the places are full is because people are freaking clueless.

GMMAT

I think it's the other way around. The media is portraying a "recession".....and I'm betting not many even know the definition of the word.

If they did.....they'd realize we're NOT in one.

I agree with Rybo.

txjourneyman

Changed my purchase of a new truck when I wrecked my old one to the purchase of a new tiny car. I commute 160 miles round trip a day. I'll put a hitch on my wifes compact SUV and use that with a small trailer for hunting trips.

dukemichaels

It will greatly change my purchases. The price of gas alone will keep me at home most of the year.

And by all true definition standards.. I guess we're really not in a recession really. But according to many older people I know who've seen bad and good.. this is very bad. And I trust their opinions.. since they have about 40 more years of working on them than I.

I also know a great deal of people who own restaurants.. bars.. or work in some sort of entertainment industry. I have not heard one say their business is up.. all have spoken of tougher times.. and business way down from normal.

Lawyers.. dentists.. all manners of people I also know.. all with the same story.

Maybe its not a recession.. but things are in fact not good. When the dow continues to plunge.. and gasoline soars even higher eventually we'll all feel another pinch.

Many investors I know of do not see a light at the end of the tunnel for another 2 or 3 years. Earliest indications of a little better time in my industry is not until late spring of 2009.

Sorry I rambled.. but I find some dillusion to the fact anyone who says people are spending money hand over fist. I think not.

GMMAT

??

I think it's still up over 11,000, pretty handily. That's no unhealthy economy.

The definition of a recession is two (or more) consecutivequarters of negative gain in the US GDP.

Ijust don't see howthis can jive (the absence of this phenomenon)with everyone screaming"the sky is falling". Call me an optimist. What many see as a downturn in the market......many see as a perfect buying opportunity. The market also corrects itself, occasionally, when it becomes overvalued. Are we seeing this? Probably.

Also....something you might not think about much....but I think we're experiencing is.....

This Obama fella is ahead in the polls, right now. That scares the **** outta me....and I suspect many investors.

dukemichaels

I did not disagree with you jeff. I know the definition of a recession. I looked it up quickly before my previous post.

I simply stated that their are more people affected by the current economy than some seem to believe. I even gave many examples. Just because you are not directly affected by it... you are indirectly affected by it in some way.

I just venture to guess that people are indeed not spending monies hand over fist... which was earlier implied.

GMMAT

It's like the unemployment figures quoted, recently. (and for the record....I agree with the quote, above)...

We went from a national average of 5% to 5.5% this past recording period. To the average US citizen (and without a doubt, it's factual).....that's a jump of 10%! The latest figures DON'T confess that this is a normal spike this time of year (when the influx of new HS and college grads hit the workforce marketplace).

Lies, Damn lies and satistics. If you asked me.....the more the US media tries to imply a recession....the more they scare the hell out of the US consumer....and perpetuate just that.

When the figures show they're telling the truth, I'll buy it. It's like I always usedto say in golf...."every shot makes SOMEBODY happy". Obviously....there are some people making out in the current economy....or we'd see evidence otherwise.

Gas prices are killing a LOT of people both directly and (as you describe) indirectly (in the form of higher food prices and ALL other goods.

Conceded.

tsoc

In general I am a bit of a minimalist,meaning I don't purchase things unless I need them,I also use holidays when I am receiving gifts to fill in the area's of items thatI need or want.
In my profession as an Insurance Agency owner I deal with a lot of owners of small and medium sized business's across a number of industries and they are much slower than they are accustomed to being,what that translates to I can't say specifically.I do know that for many people now times are tight.

MeanV2

I spend around $2000 a year and I'm pretty close already this year.

Who knows next year

Dan