Why The US Was Fooled Since April and Earlier
Now I don't need to paint a picture with a bunch of statistics, financial numbers, and job information. This is obvious or should be obvious. Are people really surprised that the DOW is about to cross into the 9xxx again? I mean come on. Where are you all living? I know where I drive through to get to the gym in the evening is a pretty good representation of what the country is overall.
So what you are going to get is a quick summary of what has happened the last 4 months. You had BP spill a bunch of oil into a little water called the Gulf of Mexico. This was right after GS got accused of all these things. In the meantime for about 3.5 months, CNN flooded the news with BP problems while the country continued to rot. During this time, the places I drive by to go to the gym are mostly independent places run by families and single people. These places had empty parking lots and some even closed. In fact, some places that opened during the past 4 months are now closed!
Even funnier is that it isn't just your mom and pop places but big chains like Wendy's that aren't getting customers either. People are eating in instead. If they do go out, the only fast food that is getting any significant traffic are McDonald's and Subway.
Retail? Well the only retail I see with full parking lots are Target and Wal-Mart. You getting the picture yet? Grocery stores are packed. Lines are full. It is a hassle to get through Costco on the weekend. Places like Midas are lined with appointments. People aren't buying new cars. They are fixing their old ones.
Speaking of unemployment, all I hear are people that can't find jobs. You hear of anyone finding jobs after x months of looking? I don't.
Instead of waiting for bogus job numbers and housing statistics to come up on the weekly news whether it is CNBC or online or whatever, just take a drive through your local city. Find how empty stores are. See how many employees are slumped over their desk waiting for a customer to come inside. With the savings rate at 6% and rising, people aren't spending money that they do have.
This winter, I'm willing to bet the Snuggie will be a great seller again and may even be the top seller of Christmas like it was in 2009 with 20 million sold. People aren't going anywhere, are you crazy? They are staying inside, saving their money, and watching the country go down the toilet - wrapped in their Snuggie of course!