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So I was home watching CNN this Saturday and just felt tired of the doom and gloom news. So I decided to go shopping and do my share of keeping the economy moving. I went to the Garden State Plaza Mall and was shocked at the volume of people shopping....it was crazy. I live in the area and have seen that mall packed at all times of the year and understand the people in that area are a little better off then most , but wow...do you think that sometimes the doom and gloom on TV is just draining us psychologically? How much are you cutting back this holiday season? Are you deeply impacted by the economic times or are you able to take advantage of the retail discounts (e.g., significant sales at Neiman Marcus and Nordstrom that normally don't occur). Will you travel this holiday and visit the family now that gas prices are down or will you take the savings and offset that against another bill or save a little more money in the bank out of fear? I guess I am just curious how this "recessionary cycle" is impacting the day to day lives of people in NJ and how many are living in fear of spending discretionary income vs. those that just really don't have it due to recent unfavorable events (lay-off, etc.).
I was shopping too - I also said that it was doing my share.
But as I said on another post, no matter how crowded a lot, a mall, how long a line... that is really no way of judging. How much are people spending? What are they returning because they realize they couldn't afford it? How many items are being sold at a loss to get people in, and they don't buy anything else? Look at the retail figures...they don't lie... and they are not pretty.
I am just very happy that my wife and I have jobs that are not as affected as other industries. If either of us are out of work for more than 6 months we put the house on the market for a huge loss just to get out from under it and sell off as much as we can and move in with relatives.
Soon to be depression. I bet most of those shoppers you see are using credit cards to purchase.. This government we have is a joke as to not even tell anyone we are in a recession. All the doom and gloom you hear is true..and accurate.. Just wish our own government would recognize it too. Its too late anyways..Gov is always too late- they react after damage is done.
My husband is in the food industry - he manufactures a branded line of sauces and marinades. He actually does really well in this type of economic climate because people don't eat out as much and will look for interesting products to spice up their home cooking. So we are in a bit of a recession-proof industry as well.
Of course people are still shopping, they're just problably spending LESS. I deal w/ fourtune 100 companies and of course they're still doing business but what I've noticed is that they've trimmed down their marketing budgets. Another thing that I've noticed is that some businesses instead of the usual payment of 30 days instead are taking 60 and some even 90 days. Make no mistake about it, recession is here even if you see the shopping malls still packed.
My husband is in the food industry - he manufactures a branded line of sauces and marinades. He actually does really well in this type of economic climate because people don't eat out as much and will look for interesting products to spice up their home cooking. So we are in a bit of a recession-proof industry as well.
Yes he is the one that gave them out at Halloween, right? LOL I loved that story! My DH has worked in the Grocery/Restaurant industry for decades. The Restaurant industry is dying...so he's interviewing for the Grocery sector again...
My company has many fast-food holdings, so we're doing very well. I was laughing at Dave Ross the other day when he said the only successful industries right now are fast food, Obama souveniers and guns. LOL
I am just very happy that my wife and I have jobs that are not as affected as other industries. If either of us are out of work for more than 6 months we put the house on the market for a huge loss just to get out from under it and sell off as much as we can and move in with relatives.
What if your relatives are thinking the same thing, with an eye towards moving in with you!
Recession is here and is very real. As someone suggested, people are buying but the total sales volume has to be way below the usual Nov sales from last year or the year before. Just look at sales data from Macys or Home Depot and you will know how bad things are. Discount stores like Dollar stores, TJMaxx and Walmart are doing good and will continue to do better because of obvious reasons.
It is just a matter of time before US accepts formally that they are in recession. Is US going to be in recession - we are way past that discussion; the point now is how severe is it going to be; and if it will lead to a depression. I have heard 'rumors' that John Thain recently announced at one of his meetings that this is just the beginning...things are going to get way more ugly in next 2 years.
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. I went to the Garden State Plaza Mall and was shocked at the volume of people shopping....it was crazy.
I live in the area and have seen that mall packed at all times of the year and understand the people in that area are a little better off then most , but wow...do you think that sometimes the doom and gloom on TV is just draining us psychologically? How much are you cutting back this holiday season? Are you deeply impacted by the economic times or are you able to take advantage of the retail discounts
(e.g., significant sales at Neiman Marcus and Nordstrom that normally don't occur). Will you travel this holiday and visit the family now that gas prices are down or will you take the savings and offset that against another bill or save a little more money in the bank out of fear? I guess I am just curious how this "recessionary cycle" is impacting the day to day lives of people in NJ and how many are living in fear of spending discretionary income vs. those that just really don't have it due to recent unfavorable events (lay-off, etc.). 
