What is the true state of economy?
Some people have lost their homes due to foreclosures and some people complain about $4 for a gallon of gas, the increase in the cost of groceries or the cost of a college education.
On the other hand, the casinos are filled. Wrigley Field is sold out where a glass of beer costs $6.25. Ravinia has sold out concerts where to sit on the lawn costs $20 and a beer $5.50. The highways are filled with motorists burning up gas, going to who knows where, driving how many miles to wherever.
Which is it. Is the economy good or bad?
If one watches the way most people are spending money and the way the government is spending money in Iraq and borrowing money from China, the economy must be good.
If, however one, contemplates the cost of health care and the fact that future generations will no longer be able to retire because defined pensions will no longer exist, and IRAs and 401ks will be in decline because the stock market won't keep pace with inflation, the economy must be bad.
Which is it?
Is the economy good or bad, or is it that most people just don't care. Or are we living in the era of instant gratification?
Glenn Taras
Rolling Meadows