Bankruptcy

Things To Think About on a Thursday

By Bill McLeod, Esq.

I believe there are folks who believe that I am a huge Negative Nancy when it comes to talking about the economy. So much so, that they do not even want to bring up the subject around me. As I have mentioned: I am not an economist. I did not do well in economics while in college. I found it?quite honestly?a tad dry. It was also at 8:00 am. None of that means that I do not have the wherewithal to see that things all around us are not well.

I judge how well the economy is doing by how much it costs to fill my tank or buy groceries. I judge how well the economy is by how many vacant store fronts I see in downtown Boston, or how many I walk by on the way home. And I judge how well the economy is doing by how there is more and more positive spin (or what some people might call propaganda) on how things really are not as bad as they seem. And there are clients (and if you?re reading this, you know who you are) that are banking that ?things will pick up later this year? or ?I think we?ve hit bottom.?

At the risk of sounding like a Negative Nancy: Things ain?t looking so hot.

A post yesterday at Calculated Risk highlighted certain remarks made in a UPS Conference Call. Among them: ?At this point, we see no immediate signs of economic improvement.? The tone of that remark seems a bit negative.

There were other tidbits in the news. There are stories about Americans hoarding food, and some retailers limiting the quantities that customers may purchase. Foreclosures continue to rise. It's all so very negative. And some people say we?re in a recession while our President assures us that we?re not.

And me? Yesterday, I had to fill my tank. I am thankful I live in town and do not need to fill it as often as I did when I was commuting. But I think I may be in a bit of a shock. No. Actually, I am pretty sure I am in a bit of shock. Though I bet others might argue that I?m just being negative.

Full post as published by McLeod Law Offices on April 24, 2008 (boomark / email).