Get rid of Pensions? OP-ED

[eolesen]

The economy is media hype?... Now that's denial if I've ever seen it.

 

[Bob Owens]

Current unemployment is "media hype?" Yep. Same media hype as the 2001 recession, the 1990-91 recession, the 1981-82 downturn, the 1973-75 oil price shock, the 1970 slowdown and the 1960-61 recession and all the recessions that preceded those.

Well the comparasions are that this is the worst recession since the great depression, I dont see it. I remember the 73-75 oil shock, the 81-82 downturn and of course the 90-91 recession. Maybe it hit other areas harder but from what I see most peoples activities havent changed much. You dont hear as much talk about the stock market, you dont hear anybody saying they want to control their own SSI monies anymore other than that from what I see most people are behaving the same as they did two years ago, that includes buying and travelling.

Yes, the planes are full. Full of pasengers paying almost 20% less on average than last spring. Even worse is the dropoff in premium travel demand and paid fares.

And their costs have dropped by 21%. Plus you leave out the fact that although people are paying less for their tickets they are paying more for everything else. AA collected over $100 million for checked bags year over year last quarter. The sandwich they used to give out now costs $6.

By the way SWA doesnt sell premium seats and they have always turned a profit.

 

[MCI transplant]

Kansas City is only a fraction of what it once was.

<_< ------Bob, When I transferred to Kansas City, back in 1992, I believe there were over 4,000 workers here at the Overhaul base. ------ Today, I don't believe there are over 250, if that! --------But since I've retired, I got to say I'm guessing!

 

[Runwaysticker]

112th street and I29 used to look like the Gumball rally at shift change, now they say the red light cycle can handle a whole shift change, MCI OH base, ashes to ashes dust to dust, soon to be gone probly, sad but true...........

 

[FrequentFlierCA]

Nice conspiracy theory about the economy, Bob. I'm sure the people losing their jobs and watching their 401(k) and IRA balances drop dramatically really find your analysis insightful.

GDP, inventory and industrial production figures don't lie. And indicators like the Baltic Dry Index are also useful. When you're ready for the truth: www.economist.com.