Monday, August 29, 2011

Someone is betting the recession is over.



This weekend, I got the Restoration Hardware catalog in the mail. All 616 pages! And honestly, I almost didn't even break it open. 616 pages of the same crap they have been selling for years - I thought?!

It wasn't that though. It was all new stuff. New stuff! In those 616 pages I became momentarily happy. If they are going to have new stuff - maybe other places will have new stuff.

I have to admit - for the past 30 days or so - you wouldn't even be able to tell there was a recession on. Construction is up. The roads are packed, and so are the stores and everything else.

I don't know if this is a push before the winter season comes or what. I didn't think back to school shopping could make this kind of a difference. I find it hard to resolve when economic data is crazy horrible. It reminds me of the first year of the recession. I had all these posts wondering why all the people were on the roads - and where were they going anyway? They weren't spending money.

Thankfully the Greeks are giving us a rally today. Their market had been down 8 days in a row. So, the best thing to do is merge two piece of shit banks. It allows you to hide the shit for a little while longer. Just like AOL and Worldcom did.

I mean, their durable goods buying is down 20% YOY, and their tourism is down 11.6%. They predict a 20% drop. So, I'd say eventually - Greece will explode, and hurt us. Just not today.

If our market is up - it shows everything is fine. Just fine.

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