Drive-by Economics: The Meta Edition Comments

Paul Kedrosky

Tue, 2 Jun 2009 18:53:04 +0000

I noticed the same thing on a backcountry mtb ride yesterday. Usually
see no vehicles, but saw two trucks and a motorcycle rambling around
on fire roads wasting gas. Was really surprised.

CraigM

Tue, 2 Jun 2009 13:16:33 +0000

I do "pedal-by" economics - I've noticed a huge correlation between the general economic mood that people express and the state of the economy and the number of people taking weekend drives through the scenic cascade foothills where I cycle. When gas shot up to $4, people rapidly adjusted by doing less leisure driving, and the backroads were less crowded. When gas plummeted, but economic uncertainty was high, these drivers did not come back. I did a 100-mile loop through the mountains on Saturday, and there were more cars than I've ever seen - bad for me, but probably reflecting an increased willingness of people to part with money for discretionary activities.

Lezlee

Mon, 1 Jun 2009 01:40:56 +0000

I do "Walk-by Economics". I walk 12,000 steps in and around La Jolla most days. Empty stores. Either no customers or just no store...very empty. I often end up on the main drags, Pearl Street & Girard around noon and am always shocked by how no one is in the restaurants...with the exception of "The Cottage" (way too cute) and "The Burger Lounge"...trendy cheeseburger joint. Don't need to ask anyone how business is doing. My alternet route is in and around La Jolla Village Square...the slums of La Jolla...You can get a seat at the Starbucks there anytime of the day. On the patio....in the comfortable chairs.

Gregr

Mon, 1 Jun 2009 01:30:49 +0000

I only ask cabbies for their best stock picks. Then I compare those to the ones from the Barron's roundtable. I hope to publish my findings someday in the Journal of Finance.

Alveena

Sun, 31 May 2009 22:26:40 +0000

I regularly ask everyone I do business with - my grocer, restauranteur, busboys, cabbies - how business is - even when its good and the ones who have told me business is better is the grocer and it is very encouraging. Its sad to see people not being able to afford daily foods. Thats when one knows one has hit rock bottom.

Lillian

Sun, 31 May 2009 16:59:40 +0000

This is not a recession its a Depression. Long Treasuries took a bath on Wednesday and Ben B lost control of his QE. Say buh-bye to these "alleged" low interest rates. Anyone in the mortgage pipe line will basically ether not get funded, or will cganhe their minds because of higher rates. Anyone with a variable rate just lost 15% value on the homes b/c of this BS (thanks Ben, may we have some more, sir?) Wells Fargo hold the most of this paper. This may tip them over the edge. Lets see the Obama Legion of Doom fix that. Ain't happening since they are idiots. Funny that Obama voters gripe about how traffic is screwed due to "improvement" projects a la stimulus grren shoots. Ironically, many are shallow enough to take this gripe out on their party. Good!

Andrew Gross

Sun, 31 May 2009 15:07:33 +0000

USA TODAY: US Debt Out Of Control; Taxpayers Hit With 12% More “Red Ink” This is fairly startling “news.” When the next crisis hits, will the government continue to back-stop failure? Our theory is The Federal Budget has been “kidnapped” and “destabilized. The Car Czar http://carczarconsulting.com/05/29/usa-today-us-d...

Carl Mercurio

Sun, 31 May 2009 14:18:02 +0000

Funny, I ask the same thing of everyone. Have for years. Originally, it was to get a feel for the plight of small business owners and workers in general--their pay and costs. Now I ask to get a feel for if we're all going to hell. What I find is what I've always found. It's been tough on the little guy for years. Now it's a magnitude worse. Also, some people are truthful and some are full of it. Carl

Hiro S

Sun, 31 May 2009 13:32:23 +0000

I'm in Chicago downtown area. I see a few store going out of business, but there are a several restaurant opening and a lot of restaurants are packed with customers. Thanks to Obama, City (CTA; Subway) are doing major renovations seems like going til Thanksgiving.

Barry Ritholtz

Sun, 31 May 2009 11:25:11 +0000

I always ask that question -- cabbies, store owners, waiters. This past week, I was in Indiana. Their economy --ranching, cattle, farming, etc -- is just fine. Even in a recession, people gots to eat!

harold hecuba

Sun, 31 May 2009 10:40:11 +0000

it really does not matter since we live in a society where the stock market CONTROLS the economy not the other way around. the gov understands that the stock market is the world's barometer for confidence. we continue to live in one warped culture.