Recession or No Recession?

I know that by the technical definition the US economy is not in recession. Yes, I know that there are parts of the country that are hurting - for instance Michigan. From my perspective there are only pockets of the country that are hurting and in general things are in pretty good shape. Now before everyone thinks I'm crazy, let me share some of my observations.

Most of you know from previous posts I travel extensively for my job. I have never seen airports more crowded than I have this year. I am rarely on an airplane that has more than 1 or 2 seats unfilled. In New York City this week one can hardly walk on the sidewalks because there are so many tourists. By the way you can hardly get a hotel room near Times Square and if you do they are going for a mere $500 to $700 per night. If the economy was in dire straights would people really be spending lavishly on discretionary items?

Let me go back to May of this year. I spent a week in Las Vegas for a conference. Again an off-peak time in Vegas and it was packed. I could hardly get in and out of the airport due to the lines, the gaming tables were very busy even on week nights, show prices are astronomical, and food prices reminded me of the Miller High Life commercial where their privileges are revoked due to ludicrous prices. If the economy was in dire straights would people really be throwing money away in Vegas?

I admit I feel the pain at the pump just like everyone else, however I've adjusted spending in other places to compensate for that increased expense.

Is it possible Phil Gramm is right that we have become a nation of whiners?