This Looks Very Bad For People Who Work At Car Dealerships and other places that employe people or sell stuff. People are staying home.
Look at this Vehicle Miles Traveled data that’s available on FRED
Growth in vehicle miles traveled has aligned almost perfectly with the growth(decline) in the number of employees working at automobile dealerships.
Thus the collapse in vehicle miles traveled does not look good for dealerships. Nor our economy on the whole.
Our flat top economy.
Hence the half empty Obama rally on Karl Marx’s birthday yesterday, was flat topped as well. Who needs the Commuisnt for four more years. I bet even his dog could do better. Go back to teaching Alinsky on the local street corner.
Locally, we are a tourist economy. In talking with local business people, the season was bad. Oh sure, they came, they laid on the beach, but they did not buy. So the gas stations got a bump in sales. Stores not so much. And now they are gone. So we get to go back to sleep. Stores trying to figure out if they hold on until next year.