Recession?

Interesting article I found today from Money Expert:

More than 26.3 million adults are planning to cut spending this year as worries about the credit crunch hit home in the real economy, new research from MoneyExpert.com shows:

Area of spending Percentage who plan to cut back:
Will not have an overseas summer holiday 21%
Will not have a summer holiday 16%
Will not buy a car as planned 12%
Will not move house as planned 6%
Will not carry out home improvements 17%
Will cut weekly food shopping bill 23%
Will cut spending on going out/entertainment 32%
Will cut spending on clothes 31%
Other 4%

This got me thinking… are we cutting anything back? While there’s talk of a recession going on, the spouse and I still have not made any cuts in our daily spending. We each get $400 a month for blow money, anything from haircuts to clothing goes in this category. We still have cable with internet, we use ATT’s U-Verse service and we have close to 300 channels including 30 movie channels, we pay $103 a month. We are already talking about our summer vacations and I’m researching the next camera I’m going to buy this summer. Of course we plan to do most of this by using cash and still meet our goal of $1000 a month to credit, with little extra here and there. We both drive nice, fairly new cars. We pay for landscaping and we also have a maid that comes every 15 days. Most people I know are also making plans for future spending and talking about their next $400 cell phone (iphone) or future home upgrades.

Our property value has gone up 10,000 in the last two years; I get job offers and alerts on my email about open positions in my industry. My neighbor just bought a brand new car. My parents just bought a new house. The new outlet shopping mall that opened close to the house was packed the first few days, no where to park, with shoppers hauling more bags than their arms could handle.

I’m I living in a dream? I really don’t see or feel a recession around me… do you?