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Ceteris Paribus…

Feb 12, 2010
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Mark Zandi, the oft-quoted chief economist at Moody’s Analytics, recently proclaimed to CBS News that “The Great Recession is Over!” This immediately brought two questions to my mind:

1) Is he sure the rest of the country got the same memo? And…

2) When did we start calling it the Great Recession?

Whatever you call it, the thing has packed a hell of a punch. It’s hard to see so much of South Pasadena’s charming downtown go the way of boarded-up windows and For Lease signs. Little Parlor closed. Dynasty Iron Doors closed. Would You Believe closed. Gracie’s Market closed. Giant hunks of plaster are literally falling off the Rialto — which is, for all intents and purposes, closed.

Zandi went on to add that the Great Recession is history only “in a very technical sense. It’s probably in a sense only an economist can really appreciate.” Yeah, that’s what I was afraid of. Everyone likes to be appreciated … but how long before the economy puts money where the economist’s mouth is?

In the mean time, don’t forget about supporting the many wonderful businesses, restaurants and services here in South Pas. For a great overview, check out The South Pasadena Chamber of Commerce online, or stop by and pick up a copy of South Pas Connections, the new 2010 Community Guide and Business Directory. (You might even recognize a few of the photographs in it…)

Read the Full Story at Glimpses of South Pasadena




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