Saturday, November 15, 2008

Thought from a trip to the grocery store

I have been employed in a precarious industry, so going to the grocery store meant looking for non perishable staples such as rice, pastas, sardines, etc. Well I went and noticed that every one of these things had high traffic in their areas. Sardines were almost all gone when I had taken my share, the pasta aisle was thinned, and basic goods seemed to be the majority of everyone's carts.

What does it mean? It means that, like me, most people are having to adjust to having less purchasing power and uncertainty about employment. Why would people spend extra money on groceries that will go bad in a few days if they are worried about their next paycheck? If you want to read it from CNBC instead of me, check here. I am a big believer in the most obvious things being the best economic indicators. When you see that parking lots are empty and people are buying only staple goods, things are bad no matter what the government statistics tell you.

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