Tuesday, May 27, 2008

Gloomy Tuesday

  • After the SP500 fell 3.5% last week, the cries that the "bear market rally" is over and that we've resumed the bear market. I'm not of that belief, but it is extremely convincing with the gloom and doom in the headlines.  Who knows, maybe I'll end up being the last bull to capitulate; and that'll be The Bottom!
  • Today, news is out that home price declines accelerated in MarchThe pace of home price declines accelerated in March and there are no hints that the decline might be ending soon, economists said.  Home prices in 20 major U.S. metropolitan areas have dropped a record 14.4% in the past year, Standard & Poor's said Tuesday.
  • I filled up with premium this weekend for $4.39.   I only fill up twice a month, so it doesn't impact me too much.  But boy, folks are sure vocal about it.  Across the gasoline island, everyone was having a conversation about it and how pretty soon it'll be $5 and $6.
  • These are the two things that are most visiable to folks.  They're underwater on their homes and gas prices are up.  What'd I hear on the radio this morning?  I think that 1/3rd of car purchase in past years were from home equity.  Scratch that!
  • Translation?  No matter what happens to the economy, the mood is dour and the Republicans are going to get slaughtered in November.  It doesn't matter who the Democrats put up.  It's going to be a cake walk.
  • Good news?  Hybrid sales are soaring!  These folks will be cutting their fuel use by more than 50% if they go from 20 mpg to over 40 mpg and drive the same routes.  Congrats!  We should all do this.  Imagine the impact to our oil consumption.
  • Today the pic is of Laker Girl Allison!

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