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Here is my commentary, or as I like to say my “PPP” (proverbial pebble in the pond):
NINETYNINE PERCENT of restaurants are still in business after the worst recession in my entire life and I haven’t been 29 in a while! NINETYNINE PERCENT, that’s what the headline should have said, their facts say that!
In my opinion, we had way too many restaurants heading into the recession and we still have way too many. I suppose we could all be euphoric that we have only lost 1% so far though.
We lost about 5% of our work force but only 1% of our restaurants? That math doesn't work for me. As of July 2010, there were 130.2 million non-farm payroll workers. That's actually less than the 130.5 million we had in December 1999.
January 20, 2010
Analysts forecast healthy growth in restaurant industry
People have to eat - even during a recession.
That's true. However, they don't exactly have to eat in restaurants. Right? Where have I heard this before? Let me think.
April 22, 2006
Condo conversions still abound in Las Vegas
"People need a place to live..."
As a related side topic...
Occupational Outlook Handbook: Retail Salespersons
Employment is expected to grow about as fast as average.
Yeah, that's what concerns me.
Career Guide to Industries: Wholesale Trade
Employment in wholesale trade will increase slowly as consolidation into fewer and larger firms occurs, eliminating the jobs of redundant workers, while new technology allows operations to become more efficient.
Check out the last decade.
I now refer you to the government's prediction back in the spring of 2000.
The 1998-2008 job (pdf)
Marketing and sales occupations. Workers in this group sell goods and services, purchase commodities and property for resale, and stimulate consumer interest. This group includes cashiers; demonstrators, product promoters, and models; and real estate agents and brokers.
Overall employment in this group is expected to grow as fast as average because of the increased demand for financial, travel, and other services. However, the rate of growth should be slower from 1998 to 2008 than during the previous decade because these workers are concentrated in wholesale and retail trade, industries that are expected to grow more slowly than in the past.
That prediction was the understatement of the decade. As seen in the charts above, wholesale and retail trade sure grew more slowly than in the past.
Nonetheless, some occupations will experience rapid growth. Securities, commodities, and financial services sales representative should grow much faster than average as investment increases and diversifies and financial institutions offer more complex services.
That rapid growth in complex financial services was sure a big win in hindsight though. Wasn't it?
Forehead. Desk. Whack. Whack. Whack.
Top Chef is in its 7th season and four spinoffs are planned.
I think I'll remain deflationary for a bit longer though. Go figure.
As always, feel free to post off topic comments. It might be another week or so before I post again.
5 comments:
Your sort of opening sentence here:-
http://www.independent.co.uk/opinion/commentators/sean-ogrady-slowflation-ndash-the-combination-the-bank-of-england-fears-most-2048109.html
dearieme,
Great timing. Slowflation!
I was thinking that recently. No joke!
Mish: Slow Speed Ahead: Cargo Ships Travel Slower Today Than 130 Years Ago
That got me to thinking about the Concorde. It was retired in 2003.
Concorde
First flown in 1969, Concorde entered service in 1976 and continued commercial flights for 27 years.
We're slowin' down!
That got me to thinking about the first American moon landing back in 1969. Our last manned visit was in 1972. It's been 38 years. You'd think we'd be to Mars by now. Nope. Man seems content to watch unmanned probes on TV these days, at best. Let's face it. The probes need to compete with the Real Housewives of [Insert City Here]. Sigh.
What's missing from the bold plans for human spaceflight
All three plans for space have in common an unwillingness either to abandon the dream of human spaceflight or to confront the budget reality. But with the funding for NASA set around $19 billion and not likely to change, bold plans for humans in space are simply not feasible.
Score one for budget reality.
That last bulge in the graph was Peak America.
Funded on two trillion of national debt via unpaid-for tax cuts, x trillion of corporate debt, and five trillion of household debt, largely secured through the housing bubble shenanigans.
Downhill from here on out? Dunno, but I don't see why not. Why make things here when the Chinese can outproduce us at 1/20th the wages, and the Indians can outcode us at 1/10th or so.
That leaves government, military, health care, education, and professional services as major employment sectors, but none of these are wealth creation, just wealth-preserving at best.
Unemployment really got rolling in early 2009, so most people are still on their 99 weeks. This will end by the end of the year.
Troy,
That last bulge in the graph was Peak America.
Peak Citigroup
Sigh.
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