Economic recovery without job creation doesn’t exist.

There is a massive ripple effect in what’s happened in the global credit crisis. It’s not just about access to credit. It’s about people’s mentality about spending and job security. We’ve gone through the greatest historic boom since the WW2. and people actually believed they would have job security and continue to make the same money forever.
That dream has been shattered. It’s not Freedom 55 anymore, maybe it’s Freedom 75 and that forces people to reevaluate what the next 25 years will look like. It changes how we look at money. People are saying “I’m going to switch and be more of a saver I’m more price conscious” –and that in itself becomes a self-fulfilling spiral. We sell less merchandise, have fewer restaurant meals, avoid high end stores.
The economic cycle has a lot more to run out before you can truly say we are in process of economic recovery. Economic recovery without job creation just doesn’t exist.