I think I took an economics class in high school.... something about a consumer index and something about... i don't know... i don't think i did well. Anyway, the US economy here is in the shit. We've been here before and will most likely be here again, but being Americans all we think about is the right now. And, right now it sucks.
Yesterday I was at a birthday brunch of a friend. I am not very close to her friends but we've been friends for quite sometime now. Anyway, the economy came up. Someone mentioned that Iceland is bankrupt. Another person mentioned that due to the crap sales, the girl who works for William and Sonoma mentioned that sales in September were down 6.6% (normally a 3% drop is big), there will be more sales. Here is a direct quote from someone's mouth, "Sucks for Iceland. Do you think Loui Viton will have a sale?"
Granted, these ladies don't have 401Ks or most of them don't and I'm sure they don't have a personal stock portfolio, and only one owns a house, so the 2000+ drop the market took over the past week won't personally "affect" them. But dear god.... I guess if they are putting their money back into the market, sale or not, it's a step in the right directions. Want to buy me a bag? Or rather should I stand on a street corner with a sign that says: My personal net worth just dropped 25%, care to give me a Starbucks Gift Card?
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