Is This Damn Recession Over Yet?

When this “recession’ started, the media strove with reports of doom and gloom to assist the economy on its downward spiral. Now as various experts and government agencies talk about rebuilding and keeping the momentum going – I’m wondering…..what momentum? Have we turned the corner? Are we seeing week on week of positive sales growth? Are factory order books filling up? Are those factories rehiring workers they laid off a few months ago? And do those workers feel comfortable spending those wages on a $12 lunch, a $4 coffee, McDonalds with their kids after a day out on Saturday?
Well I’m not seeing it…..yet.

Talking to my franchisees on this subject (a common topic of conversation in the past year) they are starting to have some good weeks. Better than last year but not every week and not predictable. Some of the real growth is positive even on the previous year, that gives us all some optimism and it is spreading. BUT….with the latest world news that PIIGS (Portugal, Italy, Ireland, Greece and Spain) will require multi-billions (euros) in bailouts to keep the European economy stable and the Middle East with its enormous debt levels – one thing is certain, all is not well with the world economy.

So back to the original question….Is this damn recession over yet?