I think the Upper Midwest has been hit the hardest IMO. I do alot of travel in that area, and everyone that i have spoke to all is centered around how bad things are. 3 years ago the talk was almost always sports, never shop talk. Cleveland and Detroit for example have been hit very hard from all sides and sectors.
places where either big employment industries on their death bed (auto:michigan upper midwest)
or places where housing bubbled the most cali, vegas etc....
are the epicenters of the pain
and slowly the pain will ripple and spread nationwide overtime
also liberally run big cities will be a huge mess as their budgets all screwed to high hell as they never save shit for a rainy day, have alot of employment doing worthless government jobs that will need to be cut, and tax revenues gonna go in the gutter big time
or places where housing bubbled the most cali, vegas etc....
are the epicenters of the pain
and slowly the pain will ripple and spread nationwide overtime
also liberally run big cities will be a huge mess as their budgets all screwed to high hell as they never save shit for a rainy day, have alot of employment doing worthless government jobs that will need to be cut, and tax revenues gonna go in the gutter big time
Im not seeing it here,Im sorry.
Everywhere I go its a clusterfuck.
All the clubs filled,restaurants packed,prosports tickets sold out...still hard to get a parking spot at the plaza.
In all fairness the Metro Boston area hasnt been affected by dramatic real estate plunges and the basis for the bulk of the revenue is generated by financial,health and educational entities in this city.Of course the financial institutions are under seige but for me personally, having a job security and sound finances allow me to take advantage of others misfortune.Health and education prices never seem to contract and seem to be holding up well around here.
Obviously factory driven economies will suffer as inventories become lean to weather the storm.
I do not think this is a case of the wave not hitting us yet either.
A good place to live even if the politics suck.
Everywhere I go its a clusterfuck.
All the clubs filled,restaurants packed,prosports tickets sold out...still hard to get a parking spot at the plaza.
In all fairness the Metro Boston area hasnt been affected by dramatic real estate plunges and the basis for the bulk of the revenue is generated by financial,health and educational entities in this city.Of course the financial institutions are under seige but for me personally, having a job security and sound finances allow me to take advantage of others misfortune.Health and education prices never seem to contract and seem to be holding up well around here.
Obviously factory driven economies will suffer as inventories become lean to weather the storm.
I do not think this is a case of the wave not hitting us yet either.
A good place to live even if the politics suck.
Hey, what can I say,come check it out for yourself.61 dollars (face value)for nosebleeds at the Cs Friday night...sold out.McFaddens before game-could not move.Boston Beer Works post game-ridiculous.
I guess it helps to have your economic existence be diversified instead of dependent on one sector.
give it some time
the market carnage lags hitting main street
the massive job cutting just has started to be annouced
the massive amount of pink slips will start being handed out soon in the next 2-6 months....and will continue through 2009
much like things like GDP lags
ah the good ol days when basey thought everything was just fine
and still does to this day.....
again this will lag
talk to me in a year or so
if oil is sub 60 still
bottom line folks stock markets predict the future
the UE spike and pain on main street has just begun
like today they said initial claims jumped to highest since we were EXITING the early 90s recession
initial claims spike has just begun and we nowhere near exiting a recession
it just in the infancy stages
The Main Street analogy seems a bit disjointed and cliche to me.The point of this thread is that there are different Main Streets covering the country.Its been impacting Main Street in many places already-places where the local economies were not capable of overcoming the wave for one reason or the other.It seems to me that Boston has some positive infrastructure conditions that allows for offsets and mitigation of 'carnage' in relative terms.
The effects, of course fall like dominos but they fall equally across the country simultaneously,affecting some places more than others IMHO.
Im sure will get worse before it gets better but lets face it things have been sour for quite awhile.I have to beleive that alot it has begun to seep into Main Street countrywide-just not as deep in Mass.
