I always believed that one the best economic indicators for the U.S. economy, was the wedding industry. When the economy was great, brides spent a pretty penny on their wedding. When the economy slowed down, brides still spent a pretty penny on their wedding. But starting one year before the recession hit, brides suddenly just didn't spend less, they dissapeared. When business got slow for me, I knew something was really wrong, the economy was sick. Afterall, if a bride cuts back on her wedding, that means they are cutting back on everything.

And when I mean everything, that also means their man's pocket book as well. As any man knows, we don't control our own money, our women do! This is the reason why I think women control the economy.

So what does the wedding economic indicator tell me? It screams that this recession is far from over. Bookings for me are still down, brides are still not spending as much, and honeymoons are still on a tight budget. And for good reason.

I DON'T BELIEVE THE RECENT ECONOMIC REPORTS RELEASED BY THE GOVERNMENT.

According to Washington, the economy grew at 3.5% in the 3rd quarter, which was fueled by government programs such as "cash for clunkers" and "Home credit" programs, therefore they concluded that the end of the recession is in sight. This doesn't mean ANYTHING. I repeat... This bump, is merely a bump, created by government programs. Cash for clunkers and the home credit programs did nothing other than to motivate future buyers, which would have bought homes and cars anyway, into purchasing their cars and homes in the 3rd quarter. That's all. The demand was not brought upon naturally through market conditions, but through steroid injections which do nothing but offer short term results. Out economy, like steroid users, once off the juice, will go back to normal. And normal for us right now is the following: People are still losing jobs and their homes, the dollar is getting weaker by the minute, and our government is planning to tax the job creators (the wealthy) to fund government programs. Businesses are still going under, commercial foreclosures are at an all time high, and industry after industry is looking for a bailout WITH OUT TAX PAYER MONEY. That is the norm for us right now. That is not a sign of an economy coming out of a recession.

Obama and Bush, and many of their economic advisers have also said that in order for America's economy to flourish once again, Americans have to start borrowing again. In fact, it's not just the White house who said this, congress said it, Trump said it, and many other economists as well. I just happen to disagree with ALL OF THEM.

The Internet bubble crashed because investors placed margin calls on all their positions. The housing market crashed because investors and home owners made bad loans, and/or took out equity loans. Developers over-borrowed as well. In other words, Americans got themselves into this mess because they borrowed too much, and saved too little. And this poverty, trickled up and out to everyone.

The solution to this economic mess could have been as simple as letting those who made the mistakes suffer. After all, that's how we learn isn't it? It's called the school of hard-knocks! Houses would be foreclosed on, but filled with buyers who could afford them. Companies would close, but new ones would soon pop up to fill their shoes. And while many American's would have bad credit, they would probably start saving and building up real wealth WITH CASH, and eventually restore their credit to normal. But that isn't what's happening.

The government is keeping those who can't afford their homes, in their homes, consequently ruining the real estate and rental market. Companies are getting bailed out, or taken over by the government. Americans are being told, they should borrow and not save.

So in conclusion I really don't what to say other than to not buy into all the hype that this recession is on it's way out. My brides, future and present...you need to still pull on those reigns when planning your wedding. Be tight, be frugal, save when you can. A romantic wedding has nothing to do with the amount of money you spend. I know it sounds funny from a businessman who is literally saying, "Hey there, spend less with me if you can..." But hey, I'm an honest guy. I shoot from the hip, and I'm on your side.

Till next time.

Steve Young
The Wedding Guy