Man On The Street Economics

The gurus say economic growth will slow in 2007 but not so dramatically that a recession will bite. I am more optimistic.

Of couse, my way of measuring economic health is less sophisticated than the methods used by the pros.

First, I navigate to craigslist and check out postings for jobs highly sensitive to economic ups and downs, such as those in PR and advertising. The number of offered positions is growing, so companies are confident.

Then, I walk down the main drag near my home in Palo Alto to see if fast-food restaurants and carwashes sport "now hiring" signs. The banners are flying, so folks with only basic job skills can find jobs paying more than $10 an hour.

About a mile later, I drop into my favorite hangout, La Bodeguita del Medio. Difficulty finding a spot at the bar before 6 p.m. on Friday means people have plenty of discretionary income and are willing to spend it. There was a big crowd last night.

A couple of minutes online, a brisk walk and a comforting cocktail. It usually works.