ajtj99's Market Pulse

[jdaasoc]

Don't worry be have a good time

http://news.bbc.co.uk/2/hi/americas/7773356.stm

Your prognosticators aren't relly that down beat. Roubini is at NYU. If he was there 30 years ago, he would have seen first hand one of NYC's toughest areas, Houston St. I can personally experienced many times having to run the gauntlet heading to Holland Tunnel and the relative safety of NJ.
One was always confronted by dozens of homeless vagrants panhandling or just just passed out on the side of the street stone cold from booze or heroin. You would have to wave off one after another down and out homeless people trying to clean your windshield with a dirty rag.

I don't know where all the homeless hang out today, I was in NYC this week, if times are really that bad. The areas like the lower east side and Harlem are fairly upscale and tame now a'days. The Bronx is not vacant buildings burning up as we learned from Howard Cosell reported from the Reggie Jackson NY Yankees World Series of the seventies.

We still have a long way to go to match the societal pain we had in the seventies.

PS I asked 2 different UPS drivers from 2 different sorting centers in NJ how the shipping loads were during the last 2 weeks. As teamsters, they are keenly concerned about shipping volumes since it dictates work rules and number of drivers needed. Their answers were pretty frightening. UPS has not hired any additional drivers or temporary helpers since business is off so much.

I guess we didn't get a UPS Tuesday or a FEDEX Ground fortnight after, that about how long it takes them to get me a package, reaction to Cyber Monday sales.