If you had talked to me about my business in the late 1990's, you'd have thought I was a real pessimist. Then again, I was paying out 40% of gross profits in interest and principle payments on my debts at the time, so pessimism was called for. As soon as I got the debt paid off, everything changed.
If you'd talked to me about housing in mid-2000's you'd have thought I was a real doomster about the economy. The housing bubble was so clear to me, that I dug down and prepared for the coming collapse.
But you know what? Actually, I'm kind of an optimist most times. I just think that I don't try to kid myself when things are bad.
Anyway, my overall feeling about the economy is that we're moving more and more away from the 'end of the world' scenarios.
Look -- our economy is a mess. Always was and always will be. You will have no problem at all finding evidence for that.
But is it more likely to keep trundling along or to completely collapse?
My instinct is that we're back to trundling along, which is the 'reverting to mean' position we're in 90% of the time.
Not great, not bad. Just there.
Coming Next Week: 5/29/13
11 hours ago