Reply #17: I agree [View All]

[karynnj]

Things are still tough and will continue to be so, but the fact is that there seems to be an almost unprecedented unwillingness to accept that things are 1) not getting worse and 2) things are very slowly beginning to improve.

The stock market turned in March and the market always rebounds faster than jobs and other real economy measures. The fact is that both the 2nd and 3rd quarter had positive growth in GDP. The fact is that a LOT of positive growth is needed to get back to where we were in late 2007 when this recession started - and even then we need a level of growth greater than that seen just to account for natural growth.

What I have seen is that the malls are no longer startlingly empty places. They are not as busy as in the 1990s or even in 2007, but there is a real difference. But, there are still strip malls here in NJ with only half the storefronts occupied.

The perspective that has to be considered is where we are relative to where we were last fall or winter. The danger of a complete financial market crisis was real and the economy was in free fall. At this point, just the fact that we have turned the corner is real and something worth praising. One legacy might be a new sense of frugality and less willingness to assume with certainty that assets will grow.