An expert concerned about the double dip.
Well, much to the excitement of all of you, today we are going to be talking recession! I seem to have some confusion I need to work through. I spend time listening to NPR and trying to stay up on world affairs. And everything sounds terrible. But are we in a recession?
Here's what the news tells me. Every time NPR mentions recession, they quickly pull out an expert. This expert always has one of three opinions.
- We are already in a recession (Yes, the dreaded DOUBLE DIP is always mentionned!)
- We are not currently in a recession, but we're our the way there (NO, don't DOUBLE DIP).
- Things are bad, but we'll pull out. (This is the one I always tend to believe.)
Here's my layman's view point. Every time I go out to eat in Seattle I am amazed by the number of people out spending lots of money. Restaurants that I consider expensive are packed. In fact they are so packed that for the first time in my forty plus (ack) years in Seattle reservations are required. I kid you not. I have never worried about reservations in Seattle, but suddenly you need them or you're not eating. And I'm not necessarily talking a Friday or Saturday night, these places are packed all week! Does this sound like a recession?
So then I think, maybe Seattle is just lucky. But, I work for a large national retailer and sales are great. Sales are great not just in Seattle, but all over the country. Again, confusion.