President Obama is in Asia. His poll numbers are awful. The stock market is down this morning over 300 points. The Republican party is without a strong consensus candidate. The Eurozone is in free fall. The Germans are opposed to a euro bond which would liquify and possibly save the Euro. Nut cases still occupy parts of Manhattan and other cities. The Super Committee has failed, as expected. Congress remains powerless and paralyzed. China has successfully monopolized most markets for rare earth metals and other necessaries. I love it.
This is about as bad as it gets, at least in the middle of the bell curve. It’s a great time to buy if you are a business looking for a building Or a real estate investor. 1,458 square foot, nicely kept house in Phoenix for $75,000? Sign me up.
I say the cup is half full. So does famous economist Dr. Ted C. Jones in his stewart.blog.com, after a lecture here, and I should have clarified the atribution to him — it is my practice always to do so and to him I appologize, the oversight was unintentional.
Said he, “There are numerous indicators of an improving national economy:
- Business and personal bankruptcy filings are down in 2011 compared to 2010
- Bank failures have declined 36 percent from 157 in 2010 to a projected 101 in 2011
- Household debt service as a percentage of disposable household income has dropped from 13.9 percent in 2007 to 11.2 percent in 2011—the lowest since 1994
- Light-weight vehicle sales, have recovered from a 2008 recession trough of 9.4 million units to a 12.4 million annualized pace today–although this still lags the typical 16 million cars and trucks sold each year from 1999 through 2007.
- Commercial real estate values have finally turned the corner and are showing increases”
Tomorrow is another day. A good day.