Another Canary in the Coal Mine
Posted by Larry Doyle on June 28, 2010 3:30 PM |
Where do you see the economic crisis playing out in your daily lives?
A week ago, I referenced my surprise at the ability to buy outstanding seats at face value via an online broker to a weekend Boston Red Sox game vs. the Los Angeles Dodgers.
That commentary prompted an interesting message from a regular Sense on Cents reader with another interesting eyewitness ‘canary in the coal mine’ observation. This reader was returning home from a business trip to Brazil. He shared the following:
Coming home from the airport, driver points out that the cash toll lanes have become disproportionately jammed relative to EZ Pass.
Says it reflects how many fewer credit card accounts are being used. So it’s not just the discretionary spending (i.e. BoSox tix) that reflects the weaker consumer, but the day to day routine expenses. Meanwhile Albany still can’t pass a budget. Q: why would Cuomo want the job? It’s like trying to jump ONTO the Titanic.
Brazil on the other hand is incredible. They have learned their lessons on the fiscal side and FDI (foreign direct investment) is pouring in. I’m going to learn Portuguese. Much rather go to Rio than Kowloon!!
Interesting observations, not only in terms of traffic patterns here at home but then juxtaposed next to developments in Brazil. Speaking of which, let’s take in a little sun and fun from that beautiful land: