It was an enlightening trip, to say the least, which allowed the visiting journalists to get a better understanding of the campaigns of the protagonists—Democrat Senator Barack Obama from Illinois, and Republican Senator John McCain from Arizona. More importantly, it allowed us to get a better feel and sense of how US voters generally feel about the United States’ present economic and political situation.

New York City is still bustling, despite the ups and downs of the US stock market. People are still busy and in a hurry making their way up and down the avenues of Midtown Manhattan, all business as usual. Local and foreign tourists still abound—made obvious by their dressed-down look and casual pace—as opposed to the briskly moving dark suits of Manhattan.

While electronic billboards all over the city regularly report on market downturn and other negative financial news, the feeling of uncertainty and concern does not seem very apparent among big and small traders alike—even among immigrant shop-keepers and members of New York City’s ubiquitous curb-side vending industry.

From my hotel, I regularly walked either to the Viennese Café at the corner of Lexington Avenue and 46th Street or Azure at the corner of 3rd Avenue and 52nd Street. Both food shops continued to do brisk business day, noon and night, patronized by people from all walks of life.

Incidentally, many New Yorkers opt for breakfast on the go, literally. Thus the proliferation of immigrant-owned and -operated food carts selling mostly coffee, breads and hot breakfast. I can only suppose they are doing better business now with their best-value items: $1.50 or P75 for a cup of coffee, and $1 or P50 for a large cinnamon roll.

I cannot say much for the nonfood sector in New York City. But visits to parts of Eastern Pennsylvania, particularly Bucks and Montgomery counties, revealed a similar business-as-usual attitude toward the brewing economic crisis even for big retailers of consumer goods. Wal-Mart, for instance, is even expanding its store on Trooper Avenue near Norristown, converting it into a bigger Supercenter. Even the local grill and steakhouse continues to do well, with long lines of people waiting for a table for dinner on a weekend. And shops at the King of Prussia mall as well as the Philadelphia Premium Outlet continue to enjoy sizable patronage.

The feeling of uncertainty and the insecurity that goes with it, over economic fortunes, is not something that is very evident or commonly manifest. Perhaps it is still too early to see the aftermath of an economic recession. Although some folks that I met, particularly in Bucks County, said that they have opted to put off retirement to a later date after losing pension money in the US stock market meltdown. Moreover, it seems that people are now even more conscious of discounts, promotions, coupons and freebies.

Somehow, it seems that as long as people can keep their jobs or at least ensure a certain level of income in the months ahead, there is generally a feeling of hope—and possibly relief—particularly after the November 4 presidential election. I suppose the timing of an administration change—regardless whether Democrat or Republican—somewhat cushions the impact of the recession and stymies the feeling of despair. With the election, at least people have something to look forward to.

Obviously, the present economic downturn is not the first—and last—economic crisis to hit not only the United States but also the rest of the world, including the Philippines. The US—and the rest of the world—have proved resilient in the past, and will most likely weather this new crisis just as well. Consumers are showing the way, refusing to wallow in misery.

Marvin A. Tort is a veteran business journalist. He is a former Managing Editor of BusinessWorld and also a former chairman of the Philippine Press Council. He is presently into various businesses, including gaming and IT, as well as business and communication consulting. He also writes a twice-weekly column for the BusinessMirror.