Too Many Cabs (and Other Economic Indiciators)

The Economix blog quotes Elliot Spitzer on cabs and the state of the economy:

When you can walk out into the street in the rain in rush hour and get a cab, we’re in a very serious recession. And the moment that I can’t get a cab anymore, I will feel the economy is picking up. Right now, it’s raining this morning, but I have no doubt I can get 10 cabs in 30 seconds. That’s a bad sign for the economy.

They also point to a longer list of some uncommon indicators including the rise of mosquitos as a result of foreclosed homes. As a side note, that reminded me of an article I read awhile back about kids in LA skating pools back in the day and how they were actually doing a service to the community by cleaning pools that would otherwise be mosquito breeding grounds. (Also, I wrote about some more indicators back in December and have a few more under my “economicindicators” tag on Delicious.)

June 18, 2009