I've been back in the USA, in Los Angeles for about a week. I'm here to celebrate my 40th birthday (come to the party friday in BH if you are around) see some family (most of them are here or are drivable to here), attend a wedding Saturday in SLO, go to a Who Killed the Electric Car? premiere event in Seattle and basically visit our old hometown and see if we miss it. The answer, is a resounding NO.
Some signs that it's gonna be darker before it gets light..
1 - My friends house, down the street from our old house, down 30% in price/value and back on the market from his sale price.
2 - Neiman Marcus (the US equivalent of Harrods) is having a 2 for 1 sale in the middle of March (I've never seen a sale there and it's not sale season). Yet, it was empty. The sales clerk said they had sales off 50% from any month the past three months.. When rich people stop buying shit you are in trouble.
3 - In fact, retail wise EVERYTHING here is on sale.
4 - Gas is over $3.50 a gallon;
5 - The house we are renting has dropped in price 25% (brand new house on the canals in venice!)
6 - I went to a "future of television conference" which had really good panelists, (including me) and not very many attendees. There was NO frothy start-ups there. all big companies schmoozing each other for $$ and biz.
7 - Beaches are full, parking lots are empty.
8 - Liquor store said cheap beer sales were up, wine is down.
I could continue but lets just say, it's a recession. After Bear Sterns I think it's maybe a depression. The only light I see at the end of the tunnel is maybe at the end of it young couples will be able to buy a house!
More on the conference
Bill Sanders declares the mobile TV withouth clothes...
I think he got in a bit of trouble about that, but frankly I agree with them! The froth is off the market, things are starting to stagnate, and I'm still not watching tv on my phone, although I do think there's an opportunity there, I think the US got a bit drunk on it's own frothy juice in this market - still not that compelling. More on the conference in my next post - was excited to hear about the world of professional gaming/sports is finally happening...
Happy to have a convertible, mexican food, in & out burgers and a new set of Chrome Hearts sunglasses.. the rest I don't really miss..
Originally posted on rxdxt.vox.com
