It’s OK to start buying knives again. Spread the word.
The Great Recession is technically over. Yes, the U. S. Government is officially calling an end to the worst economic period since the Great Depression. The U.S. economy expanded at a 3.5% annual pace in the third quarter, as massive government stimulus helped drag the economy out of the longest and deepest recession since the 1930s, the Commerce Department estimated last week.
And while we still have some serious issues, if what we’re told is correct, we spent our way out of a bona fide depression (if that is really possible. I know I couldn’t do it- I’d just get deeper into debt). That is good news, cause back around the end of last year things looked dire. Business screeched to a halt due to the tremendous uncertainty that permeated decisions at all levels.
We know it hit the knife industry hard, as buyers pulled back. But the storm is now over, so knife sales should now pick up, right? Production return back to normal, re-hiring at the plants and new product lines introduced. You know I’m only a knife collector, not an economist, but I think this is what’s supposed to happen. Isn’t it?
I know unemployment nationally is 10.2%, home values have yet to stabilize (despite what NAR says) and folks are still struggling like nobody’s business, but they’re telling us The Great Recession is now over …..and just in time for Christmas.
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