1/29/2009

The Recession


As I stated in my Tuesday's Rambling Thoughts, my home town of Mobile, AL has been largely an oasis from all the failing economic news. However, last Saturday it was reported in the local newspaper the multi-billion dollar contruction of the new ThyssenKrupp plant would be slowed due to the economy. The stainless steel operation would be delayed a year, meaning that nearly 1000 permanent employees would have to wait nearly a year before gaining employment.

Tuesday night I went to O'Charleys which is just about a mile from my home. This restaurant on any night of the week is packed solid. But, not this past Tuesday night. In fact, as myself and my nephew pulled into the parking lot, there were not nearly as many cars as we are accustomed to seeing. Inside the restaurant, it was maybe one-third full. It's not just O'Charleys that is suffering. A nearby seafood restaurant had been advertising their seafood buffet for $18.95, which is pretty good when you consider they had Alaskan Snow Crabs on the menu. Now, they are offering two for one at the same $18.95. Restaurants are now desperate in my area to get customers. It is sad. Some will go out of business and never recover. I'm 57 years old. I have been through several recessions in my lifetime. But, none equal this one.

President Obama got his Stimulus Bill passed in the House yesterday. Now, it will go to the Senate where it will face certain passage. President Obama better hope this bill does what he has been advocating even before he took office. I still say spending money to create jobs is a recipe for disaster. But, I also realize doing nothing will be equally disasterous. God help us all.

1 comments:

Yup that is right God Help us all.............

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