Friday, December 19, 2008


I was out of town for a while. Went to the belly of the bailout beast...New Jork City. And while I hear they do have the internets there, I didn't bother writing.

A few observations:

1. The toll for the tunnels is $8 these days. Last time I remember paying a toll for the Holland Tunnel was $4 about 7 years ago. 100% increase in prices in less than a decade. But Bern Bernanke says inflation is 0%.

2. Flight was 100% full in both directions. And ironically enough on the way back I wa reading an article about how the travel industry is suffering in this economic "CRISIS". Guess everyone is suffering but Delta. And the Atlanta Airport parking lot which as always was overflowing with BMWs and Range Rovers. Seriously, I have never seen a parking lot with more luxury cars than ATL's lots.

3. 5th Avenue was a awash in SALE signs as was the Columbus Circle mall. So the $4000 coat and the $1200 jeans were slashed to a low low $2500 and $700 respectively. And still the stores were ghost towns. Guess the idea of buying a $1000 pair of jeans on the old 23% Visa isn't looking so hot anymore. On the other hand FAO Schwartz was full of people buying stuff.

4. Italian restaurant in SoHo...dead. Irish pub in midtown, packed. Same night about an hour apart.

Conflicting economic signs all over the place. But I'm not worried. Jan 20th is just around the corner and GDP will be growing by 12% by February.


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