Fill me in please with your input and tell me where you're from after you read the below:
This post, Uglier Than You Thought, over at FinancialArmageddon.com makes it seem like the end is near, but I contend that it is regional although there seems to be somewhat of a slowdown here in the NY metropolitan area, but nothing disastrous... at least not yet. Real estate prices are still enormously high although there has been a slight correction.
It appears to me that the well to do are still spending (but they don't really shop at big box stores) but perhaps the middle middle-class are holding back because they are strapped for cash after buying things like FOOD and GAS. I know I am. But I don't see this as a bad thing if people aren't buying cheap crap from China just for the hell of it. Perhaps after a bit of an economic struggle, we may go back to manufacturing our own stuff in this country.
So how are things by you?