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I see people spending money left and right...the malls are full, restaurants are full, theaters are full... I do read reports of consumers cutting back but seriously I cannot see it in real life! where are all these people getting the money from?
I see people spending money left and right...the malls are full, restaurants are full, theaters are full... I do read reports of consumers cutting back but seriously I cannot see it in real life! where are all these people getting the money from?
From you, indirectly via VISA, Mastercard, Discover, and Amex.
When they default, Brother Barack, Sister Pelosi, Uncle Bennet and Uncle Udall will make sure that you pay the banks back what those people owed. It's the Amerikan way now.
Mall vacancy are going up and restaurants are closing across the nation. I don't know why people mention that "the malls are packed", after all malls don't make money by being packed, rather people spending money. If traffic is the same but everyone is spending 10% less that is a major hit to malls. A number of local restaurants have closed here, but the popular ones remained packed. Movies on the other hand tend to do well in recessions.
Contrary to popular belief (and the poster above) consumer credit is actually declining now, so the spending is coming more and more from where it should.
I would've believed it if I didn't see so many people in fancy restaurants. The restaurants are packed here in LA and it costs good money to go out these days. Sure, malls people can window shop but restaurants? Every restaurant I go to here in Orange County on Friday/Saturday night there is a waiting list to get in because the place is so packed!
Many restaurants are closing in the Los Angeles area, but the popular ones will remain popular. People are still eating out. A recession does not mean everyone stops spending money.
Many restaurants are closing in the Los Angeles area, but the popular ones will remain popular. People are still eating out. A recession does not mean everyone stops spending money.
True.
Stating the obvious here but the good restaurants will survive longer than the mediocre ones.
In our area too the GOOD places are still very busy.
The so-so ones are folding.
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