Saturday, September 10, 2011

False Optimism?

--Last evening, there would have been only one word throughout the entire evening to describe Gay Street: PACKED. Evidence that there is, indeed, disposable income. A friend had invited us after work to Nama's, and we positioned ourselves in the enviable position outside at the corner of Gay and Union, watching the world go by. (It was a great time to apply the credit that I had purchased at discount online some months ago!)

---Even though it's a Saturday, I woke up early as usual. I went to get the newspaper at about 5:30. I rode the elevator down with my neighbor on the way to the airport for a business trip. As I looked over to what he was carrying, I laughed to myself. His golf clubs, not to mention a compact laptop, had much greater volume than his piece of luggage. Real evidence of a seasoned traveler. But most importantly he was on his way to work, supporting the economy.

---On page 7a of the News Sentinel this morning, there is a very small squib about state revenue collections above expectations: $18 million more in August, 13th consecutive month that collections have exceeded budgeted expectations. (ok, the overall budget is around the $30 billion mark.) I'm thinking that this should have been on the front page of the business section. This is very good news! But the editors of the News Sentinel had even better news to celebrate on Page 1B! Dealership expansions for a local luxury boatmaker, a new aerospace and automotive manufacturing plant in Kingston--even a celebratory nod to the Krispy Kreme expansion on Kingston Pike.

I was feeling pretty good until I noticed that the stock market fell 303 points yesterday.

Oh well.

1 comment:

  1. I too keep looking for anecdotal evidence of better times, particularly from the folks I call on behalf of my major corporate employer, collecting debts. It is unfortunate that many people who have hung on by their fingertips for the last several years are falling off the life boat now, when rescue might be in sight.