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I think the guy with the wait and see attitude is a reflection of what’s happening with a lot of Americans. Financially, we’re in good shape, but you just don’t know what’s going to happen w/taxes or what Obama’s going to do, so it’s safer to not spend the money you’d normally spend, even though you have it to spend.

There seems to be an element of "One can't find good servants these days" about this article.

If I want to know how the economy is doing, I don't think quizzing those Americans who are sunning themselves on the beaches of Aruba or swooshing down the slopes of Aspen would be my first thought.

With family all over the country and due to inlaws and outlaws we only go to Mom and Dads every other year, this year we stay home anyway. Having said that my wifes best friend is a travel agent that said planes to Europe are empty; when I go on Expedia I am seeing prices for Paris and Rome not seen in 10 years. One person can go round trip with hotel to Rome for one week for $900.
My suggestion, if you have been prudent and not abused credit cards, have time, and some funds, now or next year is the time for that trip you have always wanted to take.

the only family member I’m concern with is a teacher in Texas, and since TEXAS is ok financially it seems (one of the lucky 7 states) she’s on her own as far as I’m concerned now.

I wish I could convince her to learn Spanish, think that would make her indispensable as a teacher.

but then again, she’s a democrat (I did shame her into voting for McCain for the good that did.

The rest of us in Iowa are sorting through what we can do to take advantage of this situation. And planting vegetable gardens in the spring.

Doesn’t really matter “why.” There is a slow-down, and it will get worse.

This article is about people who have money, but who are still unwilling to spend it in such uncertain times and regardless that the prices of things have dropped sharply.

IOW, there may be a problem with fundamentals, but there’s a bigger problem with confidence. Plus, it’s the “haves” who, unless filthy rich, had because they worked hard and saved well-—these are the ones hardest hit by the debacle in the stock market and in home values. For them, the first instinct is to cut all or most discretionary spending.

It’s not good for the economy,especially one as consumer-driven as ours, but that’s how financially wise people respond to hard times.

I see less economic activity everywhere. We cancelled a trip to Hawaii and the hotel begged us not to. In fact, they waived the cancellation fee and insisted on rescheduling the reservation for January “just in case”-—with them waiving any cancellation fees in the future, etc., if we didn’t show up.

What was that about? All we could figure was that having that they were hoping that reservation out there possibly did entice some people to eventually make their trip.

Honolulu hotels had a vacancy rate approaching 60% this fall. Some restaurants have closed already.