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Yesterday I had the rare occasion of having a day off and I decided to venture into Branson to view the tornado damage as well as stop at the "Tanger Mall" to see if I could find a new bra.
I was pretty astounded to discover that the parking lot was just packed with shoppers. I had to go around three times before I could find a parking space. The sidewalks in front of each store were full and most of the shoppers were carrying at least two or three bags from the stores.
I went into three separate stores and in each case they were full of people shopping. When I did finally find an item to purchase I had to wait in line to buy it (with three registers open), and there were 6 people in front of me. While I was waiting I observed the totals on the cash registers and in most cases the purchases were between $100 - $200, with a few exceptions.
The busiest store was the "Under Armour" store where the line to the cash register appeared to be approximately 15 - 20 people long.
I noticed also, while tooling around the parking lot that most of the cars and SUVs appear to be quite new. Certainly, there were very few (if any) that were more than 10 years old.
It appears, that the media reports of the "bad economy" are exaggerated. People are still out there shopping. Women are still paying $50+ to get their nails done and $100+ to get their hair highlighted and cut. People are buying new houses and new cars.
You aren't missing anything but observing the implications of an economic recovery in progress after a hell of a disaster. We're about to get a brand new mall in my neighborhood (in addition to an almost always over-packed one, about 4 miles down the freeway) and I'm already worried about guaranteed traffic issues.
that your story is an anecdote, while economics is based on data.
Even if your narrative was indicative of "the economy," for all we know these folks are just racking up debt on the credit card, buying foreign trinkets they can't afford.
I don't know the economics of Branson well enought to comment with any authority, but some elements I might factor into your research would be that people often need to buy a lot of stuff after being blasted by a tornado. Much of that stuff is purchased with the help of insurance money. Secondly, some may have been shopping for mother's day. The third part I might consider is that people's behavior of purchasing items frequently is not an accurate indication of their ability to do so as evidenced by the credit card debt in this country. The economy in Branson may be doing well, but I wouldn't necessarily conclude that based on a trip to the mall.
I don't know the economics of Branson well enought to comment with any authority, but some elements I might factor into your research would be that people often need to buy a lot of stuff after being blasted by a tornado. Much of that stuff is purchased with the help of insurance money. Secondly, some may have been shopping for mother's day. The third part I might consider is that people's behavior of purchasing items frequently is not an accurate indication of their ability to do so as evidenced by the credit card debt in this country. The economy in Branson may be doing well, but I wouldn't necessarily conclude that based on a trip to the mall.
Same here. Unemployment in my area is around 7%, yet the malls around town seem still as busy as they were before the crash. But, ask a manager how sales figures compare to the pre-bust they might tell a different story. What you see is often different from what you see on paper. Some parts of the US are doing extraordinarily well, while many parts are languishing.
just because in branson the economy seems healthy, doesnt mean that it is healthy in all areas of the country. some places are harder hit than others. and this isnt new either, as in every recession those that have the money will still go shopping for the things they want and need, and those that have to watch every penny will still shop for the things they need to keep going.
remember that this country has always been resilient when it comes to economic bad times. we as americans have generally always been optimistic and do what we need to do to survive.
Optimism dies during bad times. It is fundamental to recession. That people are flocking back to malls, buying homes and automobiles, are keys to recovery. It is having business hire again.
Ask your self what does the economy of Branson MO depend on? I don't think it depends on manufacturing, technology development or even agriculture like a lot of nearby communities in SW Missouri. It depends on entertainment or real estate development and Branson attacts people from a wide part of the USA. Its just like Las Vega, Orlando or New Orleans. I live in another ecomonic fantasy land the region just beyond the Washington DC Beltway. The Federal pumps hundreds of billions of dollars into our pockets. Even during the height of the Great Recession unempoloyment in my county never got above 5% so we never got recessed or even depressed. Stimulus worked here too. So look around to the places that depend on financial services military spending, extractive industries like oil or gas or healthcare. All doing well and these sectors account for more than half of the nations GDP. With in many cases double digit growth they when averaged with the lagging or stagnant sectors mean the economy is expanding. growing and getting some of us rich. Too bad about the rest of you out there .
The busiest store was the "Under Armour" store where the line to the cash register appeared to be approximately 15 - 20 people long.
I noticed also, while tooling around the parking lot that most of the cars and SUVs appear to be quite new. Certainly, there were very few (if any) that were more than 10 years old.
It appears, that the media reports of the "bad economy" are exaggerated. People are still out there shopping. Women are still paying $50+ to get their nails done and $100+ to get their hair highlighted and cut. People are buying new houses and new cars.
What am I missing here?
20yrsinBranson
Another weekend outing to the same places to confirm what you saw the first time around.
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