Is the economy at the bottom now?

[GaryC 7]

I see some encouraging signs that things will soon turn around. I like the way the stock market has been going the last few weeks. I know my 401K has recovered nicely. What you all think?

[Bobby+Umit 161]

Maybe.

Will know better at the end of the year though.

[Otto 83]

Seems to be looking up... consumer spending is still slow - some sectors its lower now than a month ago...

[one...two...tree 2,762]

Just casual observations - I've noticed a lot of street repairs going on and saw a rare sight these days, a new building being constructed.

We get a local flyer in the mail, called Pennysaver, and I've noticed a lot of local restaurants offering coupons and sweet deals....lots of 'kids eat free'.

[mawilson 2,133]

I see some encouraging signs that things will soon turn around. I like the way the stock market has been going the last few weeks. I know my 401K has recovered nicely. What you all think?

Be careful - I don't think it's real.

It's the trash that has done best in this rally. The banks are still insolvent, but thanks to the recent

change in mark-to-market accounting, they are now able to tweak their books to show a profit.

It's sick. Wells Fargo takes $25 billion in corporate welfare, then shows a "$3 billion" profit which

"exceeds Wall Street expectations".

[w¡n9Nµ7 §£@¥€r 123]

To Steven's point, I see a lot more construction today than I did a year ago. Unlike a year ago, though, none of it is residential.

[Trumplestiltskin 5,791]

To Steven's point, I see a lot more construction today than I did a year ago. Unlike a year ago, though, none of it is residential.

They've even done some resurfacing on 22

[fozzie 41]

Lets hope so. It may have bottomed out but I feel its going to be a long bottom.

[w¡n9Nµ7 §£@¥€r 123]

To Steven's point, I see a lot more construction today than I did a year ago. Unlike a year ago, though, none of it is residential.

They've even done some resurfacing on 22

Imagine that.

I also see a bunch of new strip malls which have resumed construction after sitting dormant for over a year. And a giant data center is coming up near me as well. Client unknown.

Also, the site that was previously supposed to be affordable housing down the street from me... is under construction. And the guys working there say it isn't affordable housing anymore. It's mixed use, retail and residential rentals with a shuttle to the train station (think nyc commuters).

ANDDD they've begun work on the huge mixed use project by New Brunswick train station too.

Edited April 13, 2009 by Randomizer

[AlHayatZween 2]

People are still losing jobs though...

that's what is perplexing to me.

[w¡n9Nµ7 §£@¥€r 123]

People are still losing jobs though...

that's what is perplexing to me.

lagging indicator and all that.

[fozzie 41]

People are still losing jobs though...

that's what is perplexing to me.

lagging indicator and all that.

You don't even know you are in a recession until 3 months after it started.

[w¡n9Nµ7 §£@¥€r 123]

3 months? Try 2 quarters. You have to have 2 consecutive q's of neg growth before it's confirmed. And then there's a reporting lag....

[mawilson 2,133]

People are still losing jobs though...

that's what is perplexing to me.

Even if things are still getting worse (and the latest unemployment numbers suggest that

they are), the market is responding to evidence that they are not getting worse as fast as

they were.

[GaryC 7]

To Steven's point, I see a lot more construction today than I did a year ago. Unlike a year ago, though, none of it is residential.

They've even done some resurfacing on 22

Imagine that.

I also see a bunch of new strip malls which have resumed construction after sitting dormant for over a year. And a giant data center is coming up near me as well. Client unknown.

Also, the site that was previously supposed to be affordable housing down the street from me... is under construction. And the guys working there say it isn't affordable housing anymore. It's mixed use, retail and residential rentals with a shuttle to the train station (think nyc commuters).

ANDDD they've begun work on the huge mixed use project by New Brunswick train station too.

East Peoria has started construction on a new downtown. They have taken over a large area that used to have Cat factories on them and are building a really nice downtown. The lots have been empty for many years.

http://www.eastpeoria2010.com/new.asp

On the other side of the river they are building a new museum and a Caterpillar welcome center. We may even get our own IMAX theater!

http://www.buildtheblock.org