There seems to be some debate whether the economy is doing badly or not.
Some people are saying it's pretty good and they seem to base this on the
fact that either they or someone they know are doing well. I go by the
leading economic indicators myself. Today it came out that the June numbers
for home sales was at a ten year low. Then it was revealed that of the homes
sold a full third of them were foreclosures. That's pretty concrete evidence
that the real estate market is doing awful. You can add all the business
that is connected to that market like construction and home improvement
stores etc. Today the stock market is down more than 200 points. I think
this is pretty strong evidence that the economy is not doing well despite
the protestations of those who are desperate not to admit the reality of the
situation. By the way, I'm doing fine too.
Hawke
