what recession

[kirbsam]

last year at this time, i commented that i didn't think things were as bad as everybody was saying because of the massive lines of people waiting to buy wii consoles.

i stand by that statement. as i waited in line today with lots of other people to buy wii fits. so, i know that some are feeling the effects, but it seems that people still have plenty of discretionary income.

 

[DawnCt1]

last year at this time, i commented that i didn't think things were as bad as everybody was saying because of the massive lines of people waiting to buy wii consoles.

i stand by that statement. as i waited in line today with lots of other people to buy wii fits. so, i know that some are feeling the effects, but it seems that people still have plenty of discretionary income.

Try going out to dinner on a Friday or Saturday night. In fact, try going out mid week. If you don't call ahead, show up early, etc, you will have a long wait.

 

[mrsltg]

I think it depends on where you are located. In my area (Northern VA) it seems no one has gotten word of a recession. Of course, my area is heavy in government employees and defense contractors - they seem to be doing okay. While our housing values have fallen it's not bad as long as you are not trying to sell right now. It seems some areas are more hard hit than others.

 

[Angelhalo]

I agree that it depends on where you're located. It is the exact opposite here. Restaurants are dead and lots of places are going out of business. I met MANY people shopping this year who have said they are only buying heir children one or two things this year because thats all they can afford.

 

[tasha99]

There are still lines here, just not as long. Someone who worked at Penney's told my mom yesterday that they had about 1500 fewer customers than last year--still a crowd, but smaller.

 

[Froggyswife]

Now that gas prices aren't $5.00 a gallon I have a WHOLE lot more extra money to spend instead of spending $500 a month for gas for my dh to drive 2 1/2 hours a day back and forth to work it only costs us around $170. I am loving the $1.69 a gallon gas. Haven't paid that since the early '90s. I was actually able to buy clothes this month and eat in a resturant without worrying how I was going to pay my bills if I bought my dh new clothes because he has lost 50lbs and none of his clothes fit anymore. Now if food and everything else will drop down back to normal (because they were raised so sky high because of the gas being so high and it was costing them more money for transport) things will be even better.

 

[OrlandoMike]

People are not very smart! I cant tell you how many foreclosed homes I have looked at that were loaded to the hilt with "toys".

People don't have priorities these days......

God forbid we ever do hit really hard times. Most people wont know how to adjust!

 

[Mickeyistheman]

I went shopping with my sister Friday and Saturday, it wasn't as crowded later in the day AND people were buying things but it was all on credit and I think that is what got us into this trouble in the first place.

Also as I was speaking to some very nice people while waiting in lines was that people had Christmas Clubs etc. So that also is helping.

But there is a bigger picture that people aren't looking at. The layoffs that are going to continue to happen is what is scarey. I mean I can't even find something that is suitable or somewhat comparable to what I was doing before.

It scares me to death that I can't find anything that is in my field that is stable or even going to offer me the money that I need to survive and I am talking the MINIMUM not what I know I am worth but just the minimum to survive its not out there.

Some people aren't hurting my best friend is a nurse and her job is stable and set and she makes very very good money so they can spend like they always have. So its all relative.

 

[3jsmommy]

I'm sure if you visit Detroit, or many other US cities, any time in 2009 you would change your mind.
If you talk to my friends that work on Wall St. they would disagree.
If you speak to anyone in the mortgage, real estate or banking industry they would say your wrong.
But I guess if people are buying wii's it's all good!

 

[beckmrk04]

I agree that it depends on where you're located. It is the exact opposite here. Restaurants are dead and lots of places are going out of business. I met MANY people shopping this year who have said they are only buying heir children one or two things this year because thats all they can afford.

Same here.

And just because you see people in line waiting to buy a Wii doesn't mean there aren't plenty of other people sitting at home trying to figure out how to pay their bills because mom or dad just got laid off.

 

[TCPluto]

I'm sure if you visit Detroit, or many other US cities, any time in 2009 you would change your mind.
If you talk to my friends that work on Wall St. they would disagree.
If you speak to anyone in the mortgage, real estate or banking industry they would say your wrong.
But I guess if people are buying wii's it's all good!

I'm in Michigan. Apparently many didn't get the memo.

The mall and all of the stores parking lots were completely packed the past several days. Unless these folks were just driving to the stores to window shop, I think that a lot of commerce is taking place.

 

[Angelhalo]

I'm in Michigan. Apparently many didn't get the memo.

The mall and all of the stores parking lots were completely packed the past several days. Unless these folks were just driving to the stores to window shop, I think that a lot of commerce is taking place.

Exactly why it all depends on the location. In areas where more people have lost jobs, median incomes are lower, gas prices are higher.....it very much feels like a recession, whereas in other areas, it may not be so bad. I think thats the most important thing to remember, just because the area that one person lives in may have packed restaurants, doesn't mean that the entire country is fine and dandy.

 

[Tink&SquirtsMom]

I read an article about a month or two ago (of course can't find it now) that says sales on things like camping equipment and video game consoles are skyrocketing, but overall discretionary spending is way down. The reasoning they gave is that more people are staying home (movie tickets, theater, concerts etc are down) so they are purchasing a video game console (which can easily be in the same price range of some of those one time activities) as something to do now that they are staying home much more. Same with camping equipment, yes people are purchasing it but they are doing so in leiu of the $2,000 vacation they might have usually taken. My take on that is people who are still doing okay are cutting back... still doing some discretionary spending but doing so on more sustainable activites, rather than one time splurges.

I work at a church and our calls for assistance this year have quintupled. Our area has been hard hit and restaurants that used to be an hour+ wait on a Fri are now walk in. So I think some of it depends on where you live, too.

 

[The Mystery Machine]

I went to the mall the day before Thanksgiving and yesterday.
Normally it would be packed with long waits for Cheesecake Factory. That was not the case.

I was looking for clothes for my kids. I can see why people are not spending. Frankly the clothes they have for sale are the ugliest thing on the planet and the fit is terrible.

How about some sensible clothing fashion buyers!

 

[Lib E]

I commented to the manager of our Costco yesterday that business looked good. He said that the warehouse is crowded, but customers are spending less than half of what they did last year, and last year was their worst year since they opened. He also said a lot of people have not renewed their membership this year either.

Our neighbor owns several restaurants in the LA area and told me that business is way down. The people who do come in, don't order as much and the bar/wine revenues are almost non-existent. He said that credit card denials are way up too, and many times the customer has no means to pay.

 

[Tink888]

People are not very smart! I cant tell you how many foreclosed homes I have looked at that were loaded to the hilt with "toys".

People don't have priorities these days......

God forbid we ever do hit really hard times. Most people wont know how to adjust!

I agree with this 100%. Just because people are buying things and eating out doesn't mean they have the actual money to pay for any of it.

I think even after all that's happened over the last few months, there are still so many people out there with the mentality of "buy it now, worry about paying for it later or not at all"

Is there a recession? I don't know. I feel like there is but I work in the mortgage industry and honestly don't know if I'll have a job next week. I've cut back so I can add more to my savings.

It just seems to me that the entire country along with the government seem to have this mentality to spend like crazy. Apparently, there's money growing on trees somewhere. I'd just like to know where I can get one.

 

[SHAYMARAYSMOM]

People are not very smart! I cant tell you how many foreclosed homes I have looked at that were loaded to the hilt with "toys".

People don't have priorities these days......

God forbid we ever do hit really hard times. Most people wont know how to adjust!

This is true.
I think alot of people just keeping thinking if I spend money it will make things better.

I wonder how many of those out spending are paying cash or still useing charge cards.
If people looked at what the unemployment rate is for the state they live in it might change thier minds

 

[kydisneyfans]

Shoppertrak is showing a 3% increase in BF sales this year over last year, when the media was portraying a doom and gloom season. Granted, one day doesn't make a season, but the start sure looks good.

The outlets in SW Ohio had a mile long line on I71 at 11:00 PM Thursday night just to get in. My wife had to jump a curb and park on the grass at the mall here on Friday morning. The WalMart lot was so full that people were parking at closed restaurants across a 6 lane highway and running across.

I've said all along there is no recession here, and I'll stick to it. Here isn't everywhere though.

 

[ConcKahuna]

Shoppertrak is showing a 3% increase in BF sales this year over last year, when the media was portraying a doom and gloom season. Granted, one day doesn't make a season, but the start sure looks good.

The outlets in SW Ohio had a mile long line on I71 at 11:00 PM Thursday night just to get in. My wife had to jump a curb and park on the grass at the mall here on Friday morning. The WalMart lot was so full that people were parking at closed restaurants across a 6 lane highway and running across.

I've said all along there is no recession here, and I'll stick to it. Here isn't everywhere though.

Of course the difference between 2006 and 2007 was an increase of 8.3%, and that was one of the smallest increases in decades. 5% might not seem much to you, but on a national level that comes out to millions if not billions of dollars.

Disney is a good indicator of recession. You can tell when things are slow in the tourist industry by how many discounts Disney offers. The fact that Disney is offering a 43% discount to pretty much anyone who comes between January and the end of June (a better discount than CMs can get for their family) should give you an idea of how desperate they are to fill rooms.

 

[Lib E]

Shoppertrak is showing a 3% increase in BF sales this year over last year, when the media was portraying a doom and gloom season. Granted, one day doesn't make a season, but the start sure looks good.

Does 3% cover the increases we've seen in prices this year? Sadly, I'm guessing it doesn't.