My Weekend of Economic Research

Since the media is pushing this recession theme hard (I see that some Brit rag is dubbing 2008 the year of the Great Depression), I thought I'd go out this weekend and do a little gum-shoe research on the economy. Granted this is hardly comprehensive or representative, but this sort of real-world activity is how you reality check what you are reading in the papers. So here goes:

Saturday AM: Trip to the mall. Not packed but solid foot traffic. Apple store - mobbed. Pottery Barn and Crate & Barrel - dead. P.F. Chang's - close to full but no waits for table. Best Buy - moderate traffic, surprising lines at check out. Local Home Appliance retailer - dead.

Saturday Lunch: California Pizza Kitchen - packed, but no big waits for table unlike 6 months ago.

Saturday Evening - drinks at local Irish pub - restaurant 2/3 full, bar crowded.

Conclusion: Housing and related sectors stink. Rest of economy doing fine. Surprise surprise. Recommendation: use the media bias/harping to load up on stocks.