Tuesday, March 25, 2008

A change in the zeitgeist?

It is only one article "Thinking the unthinkable: what if it's not that bad" - but - could the tide already be shifting?

I don't think so - not yet. The stock market may have stabilized, but does that really mean anything for the overall economy? Housing news supposedly looks better? Who are we kidding - maybe month to month some things are improving - but these are still bad numbers overall and YOY they are TERRIBLE (DOWN 23.8% below February 2007 levels). There is a lot of inventory to work off, and many bad loans out there. It is going to take some time. Maybe the market panic is over - but the real work on the economy has hardly started.