Sunday, November 22, 2009

For Real?

So rumor has it that the our economy is coming out of this recession.

You can't tell that from where I'm sitting.

The north east corner of Marquette and Blackstone Avenue. The property was just boarded up in the last few days but has sat vacant and untouched for well over two years.

A close up of the sign that the bank posted.

1 comment:

The North Coast said...

All our leaders did is smear a whole lot of lipstick on this pig of an economy, and then tout the improved numbers such as "housing starts"- like wow, that is just what we need, more inventory!- and numbers of homes and cars sold via various government incentives that really just spur the creation of more DEBT.

What hasn't happened is job creation. Unemployment and UNDERemployment are vastly under-reported. Does a full-time retail job paying $9 an hour replace a $45K a year job? Does doing intermittent "contract" work from home replace a $120K engineering job? Does working part time under the table replace even a steady low-wage job?

Of all the ridiculous metrics the wonks use to measure economic performance, "consumer sentiment" is the most ludicrous. There's nothing as galling as listening to a bunch of talking heads on shows like the idiotic CNBC talk about what it takes to make people "confident" enough to go out and spend money. Did anyone ever tell the government economists that "feeling" or "confidence" have nothing to do with it, and that when people don't have jobs and the credit is not available, they don't spend money, mainly because they just don't HAVE money?