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Those ARE good signs, as long as Visa isn't paying for all of that luxury (unless Visa is paid off each month)! :-) Visa bought me dinner at the Taco Bell drive through last week--heavenly/decadent (the whole place was deserted at 6 p.m., though).
Except perhaps those of us who have been unemployed for a year and way underemployed the previous 2 years followed by unemployment the three prior years and lost our houses... Unemployment stats don't mean people are fully employed...
Laura, You're correct it really comes down to what is going on each "individual" household. Overall though the economy is much better than 2008/9. More people are taking vacations and buying property. Those numbers can't be fudged. The Dow is way up
True! But, stats are easily manipulated. For ex:, "more people are buying property" statistics include all of the foreclosure/for pennies properties, and house prices are deflated most places. Stats seemed rosy in 2000, before the dot-com bomb, too.
What are the alternative ways to measure if there has been improvement if we don't go by the numbers? There will never be 100% employment nor will there be a time when everyone is happy with their life. Every business compares quarterly numbers.
Agreed, but you just have to be careful that you know what the stats are actually measuring before concluding that they're representative of a particular thing. I think you were right that it's individual households, not broad-brush stats...
A very frank and wise commentary, Borsia. Thanks for bringing additional perspective and wit to this discussion.
Actually I don't believe most people believe the country has improved economically. They've forgotten how BAD 2008 and 2009 were. GM stock was down to $2.50 a share, foreclosures and loan defaults were at record levels. Recovery has been slow though