Markets are largely trading well (US hits 2008 highs) but I have two days til this diet is over and I hate every second of it. I do, however, have a very special occasion coming up in London that I am excited about. Today a bunch of my HK girlfriends and I all confirmed tickets for glorious ECO (Non-UPGRADABLE) 13-hour flights to Heathrow. I'm normally fine (or as fine as one can be) with flying Eco except it’s a 72 hour trip and I have to work immediately upon landing back in HK. When I tactfully suggested the upgradable fare (without sounding like a brat), I was swiftly reminded that we (like Greece) are submitting to austerity measures. I didn't remember to argue those U$895 Jbrand leather jeans she bought on shopbop aren’t so AUSTERE!!
I digress (and pray my friend doesn't kill me). What I should have argued is that US / HK and UK are not in a recession (we don't have any Euro-zone friends on this trip). Actually we were all out of the recession by the end of 2009. I actually thought (or felt) it lasted a lot longer, didn't you? Not according to the technical definition for recession, which is simply a period of slowing economic activity (ie jobs, incomes, GDP etc) that last more than a few months. A totally normal/natural (albeit not awesome) part of the economic cycle. Certainly not the end of the world. Can actually be great time for bargain hunting (origin of the word recession-ista). I got my leather pants in the recession at a 50% discount to the above-mentioned U$XXX (Intermix Sale 2009).
I realize it's actually impossible to discuss deflation without referencing Japan (and we will), just not on a day when I've only had 800 calories.
No comments:
Post a Comment