During the upheaval in Wall Street and the government rushing in the “save” everyone here’s some news you won’t get anywhere else – Gas prices last week were down another 11 cents a gallon nationally, and even though the average is a bit higher, I’m paying $3.55 a gallon here in LA. That’s gotta be helping someone somewhere.
Remember when it was $4.50 a gallon a people were saying they couldn’t afford to drive and eat, that shopping trips to the mall were being curtailed and that the kids were going to get lumps of coal (assuming they could afford that) for Christmas because of high gasoline prices. Where are all those stories now?
The doom sayers in the MSM seem to have moved on to other dooms to say. My comment: “Take a deep breath, don’t do anything precipitous, and ride it out. In every case where there has been a problem like this in the past 50 years, the market has worked it out and we have survived, just as we will in this one.
Housing sales have already begun to turn around here in hardest hit California. That means that banks are lending on them and people are finding bargains. I suggest the “bottom” has already happened, and that prices will begin to climb a bit, the banks will have learned a hard lesson, and going forward, the market will work as it is supposed to.
Pollyanna? No just an observation. Things are never really as good or as bad as everyone says.