We're not in a recession. We haven't had two consecutive quarters of negative growth. Economy might be shaky, but things aren't that bad. The Red Lobster I was at tonight was pretty full for a bad economy...
its always nice to see that some people use their local red lobster as a measuring stick to the health of the economy. but hey, if you think 6 straight months of job losses, the dow jones crossing 11,000 for the first time in 2.5 years, and 8000 foreclosed homes per day aren't signs of a recession...well, maybe you're on board w/ phil gramm and the rest of the republicans.
Hey, when recession is defined as two negative grow periods and we have not experienced that, then your anecdotal evidence for what you're and the rest of the liberals define as "recession" makes nice political ads but doesn't meet the definition of recession. Quote all the job loss numbers you want but when growth halts let alone reverses for two periods, then come back....
In the mean time consumers will continue to spend, yes at a slower rate and yes more and more are losing confidence, but recession isn't defined by "feelings" nor necessarily the current stock market value. Knee jerk reactions are exactly the reason we don't cry out recession at every down turn.
Having said that, the effects on entertainment dollars may prove counter-intuitive. Less may be spent going to the theaters and more spent on cheaper home entertainment. The net effect on home entertainment could be a wash or even small growth. Hard to tell but let's not get reactionary....
Reader Comments (Page 1 of 1)
Truth Teller @ Jul 13th 2008 6:09PM
Nothing to be impressed with here at all.
The recession is abviously taking it's toll, on both sides of the atlantic now.
This is down even on the poor $8 million/wk they were showing previously (when we got any numbers at all).
(I wonder when the BDA are going to have the guts to show actual verifiable numbers sold?)
Blu-ray may well end up extremely unlucky with it's timing.
No wonder even Sony are rolling out alternatives to Blu-ray.
http://www.engadgethd.com/2008/07/03/sony-talks-future-of-oled-blu-rays-chances-against-dvd/#readercomments
THizzle7XU @ Jul 13th 2008 10:30PM
We're not in a recession. We haven't had two consecutive quarters of negative growth. Economy might be shaky, but things aren't that bad. The Red Lobster I was at tonight was pretty full for a bad economy...
SimbaDogg @ Jul 14th 2008 1:41AM
its always nice to see that some people use their local red lobster as a measuring stick to the health of the economy. but hey, if you think 6 straight months of job losses, the dow jones crossing 11,000 for the first time in 2.5 years, and 8000 foreclosed homes per day aren't signs of a recession...well, maybe you're on board w/ phil gramm and the rest of the republicans.
JimC @ Jul 14th 2008 12:47PM
Hey, when recession is defined as two negative grow periods and we have not experienced that, then your anecdotal evidence for what you're and the rest of the liberals define as "recession" makes nice political ads but doesn't meet the definition of recession. Quote all the job loss numbers you want but when growth halts let alone reverses for two periods, then come back....
In the mean time consumers will continue to spend, yes at a slower rate and yes more and more are losing confidence, but recession isn't defined by "feelings" nor necessarily the current stock market value. Knee jerk reactions are exactly the reason we don't cry out recession at every down turn.
Having said that, the effects on entertainment dollars may prove counter-intuitive. Less may be spent going to the theaters and more spent on cheaper home entertainment. The net effect on home entertainment could be a wash or even small growth. Hard to tell but let's not get reactionary....