Signs of the Times

The effect of the stumbling economy is being seen more and more around here. On the corner near our house they've just completed a new little strip center with maybe five or six suites, but it doesn't appear they have any tenants. The thing is sitting empty. Brand spanking new. Empty.

About a mile away a similar but bigger strip center opened a month or two ago. There's a Rubio's restaurant in one section, and the other suites were supposed to have a variety of other fast food joints. I talked to the Rubio's manager to see how his business was doing and he told me they're growing all the time, but at least two of the other food places that were to join him have canceled. The entire rest of the strip is vacant.

Most of the older strip centers in the area are still occupied, but it's not unusual to see at least one store with a "Going Out of Business" sign.

Within just a few miles of my house there are three empty Mervyn's stores, an empty Linens and Things, an empty Comp USA, and a soon-to-be empty Circuit City and Home Expo Decor. All are large commercial buildings for which the owners probably have no hope of finding new tenants. What store capable of taking on that much space is likely to come into this area now?

And what out-of-state concern would want to move into the California market with the nation's highest sales, gas and income taxes?

When we see new commercial construction (and there are a few around here) I can't help but think those people are going to be in big trouble.

One thing I'm not seeing much of anymore - new cars. I've seen very few new cars on the road lately, and almost every one of them was Japanese. If the Big 3 are selling any cars these days, they don't seem to be selling them around here.

Obama's new budget promises to raise taxes on business and the "rich" (however he defines that). Raising taxes on business in this economy is quite simply madness. It will stifle the already struggling business environment and will likely result in more job losses. It's foolish. It's as though he's decided that higher taxes on the producers in this country will be the only campaign promise he'll keep, even though it's economic suicide. Results don't matter, only "fairness" as defined by the class envy crowd.

We're a long way from being out of this mess, and the actions that Obama and the congressional Democrats are taking will prolong the pain.