Tuesday, November 25, 2008

Three-Day Gain
I just heard that today's gain in the Dow marks the first time since late August that the Dow has put together three consecutive gains in a row. That is pretty amazing.

I am tired of hearing that we are headed for bad recession. We are not headed for a recession, we are in a recession. My guess is that it started sometime in the late spring. The debilitating impact of high energy and commodity prices, when added to the housing mess, started the recession. The financial crisis added fuel to an already growing fire.

If Treasury's move today boosts housing it will have been a success. The recession and financial mess started in housing and needs to end there.

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