Consumer Confidence - My LA Recessional Barometer

Contrary to reports coming from Washington, the recession is not over. Yes, the stimulus spending money is slowly trickling out. Most companies are reporting earnings greater than expected. The economy is in better shape now than a year ago and two years ago when this recession began but we aren't back yet.

The recession is not over until you can't get a reservation at Koi or a tee time at Hillcrest. The recession is not over until people start sending their children to LA for a year with a blank check. The recession is not over until the beach is packed only on the weekends. The recession is not over until the empty windows on Wilshire disappear. The recession is not over until people are investing in startups again. The recession is not over until actors can find solid work. The recession is not over until the big premieres and parties are back. The recession is not over until there isn't a sale at every store. The recession is not over until people find their confidence.

People in this town have money but are not spending it. When the money starts flowing again the economy will really be back. LA is fortunate to house Hollywood and a ton of tourists that will keep it going. Hollywood and software are truly the only American made goods anymore. Until LA's swagger comes back we will be in a recession in this town. Keep an eye on the little things and little people in this town and you'll know when you see it. The confidence and swagger that define this town are coming, but they aren't here yet.