Most big banks are making huge profits, not lending money, paying big bonuses and raising rates on credit cards to huge apr's. Despite the fact the media would have you believe the housing market is recovering I say it is not recovering. If not for the tax credit there would be very little in the way of home sales. Gas prices have risen 30 cents in the last 30 days. GM needs more money. The recovery is stalled in my opinion.The tax credit for homes should expire so that prices would free fall to a affordable level. Once this was achieved then you would see new home starts rise. I think they are still too high. That is still the case for much of the Tampa area.
Most people did not get raises in 2009 and I bet companies will use the poor economy as the reason for no increase in 2010. No increase in salary means no recovery in the economy. I know that some people in my company will have gone three years with no increase. As of January it will be two years for me. It is not like my cost of living has decreased in the last two years.
Until people see reasonable increases in take home pay the only people who will see any benefit in the economy are corporations.
Heavily manipulated picture from a BBQ joint in Woodbine, Ga.
