Good News for Christmas

The following is copied from Glenn Shepherd's blog for today. I thought it was very good; hope you enjoy. I'd like to give you a special Christmas present I haven't seen anyone giving - good news about the economy! Since you can't turn on the TV without being bombarded by nay-sayers trying to convince you the sky is falling, I'd like to tell the rest of the story, as Mr. Harvey would say. While everyone is freaking out over the dark economic cloud that rained on many parades, there are also many silver linings the mainstream media doesn't bother to mention. Here are ten good things about our economy. 1. Last week, home mortgage rates fell to a 50 year low. If you're in the market to buy a house or refinance, you can get a mortgage at rates not seen since the '57 Chevy was still new. 2. Home prices have also dropped, so today's home buyers are getting a steal of a deal. 3. Stocks are on sale right now, and some people will get rich because of it. For example, Ford sold at $66 per share in 1999, and is now selling at less than $3 per share. 4. Automakers are selling roughly 1/3 fewer new cars than usual. Economists are happy about this because they believe too many cars were being made. Environmentalists are happy because fewer cars on the road means lower emissions. This also means fewer accidents, shorter commutes, and less fuel consumption. 5. Because of the instability of many big national banks, small local banks and credit unions are seeing a HUGE influx of cash. For example, United Heritage Credit Union in Austin, Texas, saw a 35% increase in new checking accounts in July, a 43% increase in August, and a 52% increase in September. 6. While Starbucks' sales are down by 95%, Campbell's Soup's sales are up by 12%. In its 139 year existence, Campbell's has survived 28 recessions, two world wars and the Great Depression. They are the true "$1 Meal", and the sales increase means that people are being smarter with their money. 7. Major retailers in shopping malls report lower sales this Christmas. Why is this good news? Because as Dave Ramsey says, "The Mall" is French for "Paid too much". Meanwhile, discount stores like Goodwill are enjoying sales increases. As a proud customer of Goodwill, I can personally attest to the fact that it's an awesome place to get great stuff at incredible bargains. 8. Credit is now harder to get. People will now have to actually qualify for loans. (Imagine that!) 9. As the unemployment rate rises and the available supply of labor increases, businesses can be more selective about who they hire. As a result, they'll hire better people, which will make their companies stronger. 10. Illegal aliens are leaving the U.S. because jobs aren't as abundant. This will help the economy by reducing the burden placed on schools, hospitals, etc., by people who consume public services but don't pay income taxes. This also means one less excuse for politicians to raise your taxes. We've had it really good time for a long time, and there were too many out-of-control people who were in a drunken orgy of spending. Although no one likes it, some of these folks needed a slap in the face from the harsh hand of reality to sober them up. Generation after generation has faced adversity, and came out stronger for it. Contrary to what Katie Couric and company keep trying to convince you of, this is NOT EVEN CLOSE to the Great Depression. This too shall pass, and you're going to be just fine. Have a Merrrrrrrrrrrrrrrrrrrrrrrry Christmas, Santa Glenn with Tidings of Good Cheer