Not A Recession

[snousle]

Remember back in November when I posted an article about how a majority of Americans persistently believe that the economy is in or near recession when it isn't?

Well, Q1 of 2008 was not a recession.

Just thought I'd let you know.

Comments

[h0gwash.livejournal.com]

I was reading a business article about recent trends in consumer spending. Sales of high end imported beers down, sales of cheap domestic beers up. Restaurant sales and theater tickets down. Walmart sales of peanut butter and spaghetti sauce up, along with DVD rentals. There seems to be widespread penny pinching yet... sales of $1000 plasma big screen TVs and high end electronics are actually up. It's as though people are 'playing recession' like children 'play house.'

[snousle.livejournal.com]

It's as though people are 'playing recession' like children 'play house.'

Zing! Yeah, I think there's a lot of that going on.

I think things mostly suck on a morale level in the US; people blame it on the economy because it's a convenient target that seems related to their problems, but the real problem is alienation and disempowerment, rather than purely economic concerns.