My Local Economy Appears Strong! Strange :-)Been raising cash last couple weeks, sold 1/3 of my peyto and a bit more of my Suncor. I basically sold to the sleeping point. After watching the evening news, and being told the world is ending and the economy is crashing, I figured I should raise some more cash for the next big opportunity.
Being curious about the actual state of affairs in my neck of the woods, I took a drive from Los Angeles to SanDiego for the fathers day weekend.
A little background: Freeways have been packed for months during rush hour.
405 freeway (Major north / south freeway) took three + hours driving from Los Angeles to San Diego this weekend. San Diego is a major tourist destination. Typical drive time approx 1 hour 45 minutes without traffic. Restaraunts were PACKED everywhere I looked.
I counted six (2 million dollar) homes being constructed within a half mile radius of my house, and I did not even drive every street. I could only imagine what would happen if gasoline was cheaper.
Help wanted signs are hanging on numerous business's, more than I have ever noticed.
I know this is all anecdotal, but those housing starts looked like fresh projects.
Tried to get a tire patched on my wifes car this week. Went to four tire shops. All the stalls were packed with customer cars.Three shops said the same thing, we dont have enough staff to help you today. Many possible reasons, not alot of profit in patching a tire, but obviously these shops have ample business, and tires are not cheap, nor are they bought by the unemployed (typically) :-)
I know crashes take time, but I can not help but marvel at the dichotomy of what I hear in the financial news and what I am seeing with my own eyes.
Same thing with covid, all over the news, but nobody got seriously ill or died in my neighborhood.
Am I just lucky?
Do I live in paradise?
Is the main stream media being honest and accurate?
The world may never know :-)
Nukester