Just How Bad is the Economy? 

Fuel prices are increasing rapidly, grocery prices are increasing, mortgage foreclosures are escalating, the news reports we're in a recession – just how bad-off am I?  I feel okay. 

In a recent poll, 54 percent of Americans said we are in a recession - although 76 percent said their own situation was fine.  How can that be?   

Wal-Mart turned a profit as both sales and revenue grew and JC Penney only made $120 million  which is reported as doom and gloom because it is only half of the profit they made in the last quarter.  I looked at the numbers and they earned $4.95 per share on shares trading at $44.25.  Thats an 11% return.  Is that bad?  Wish I could get that on my bank account.  Heck I could earn almost $11 next year. 

USA Today reported that mortgage foreclosures are up 65% from a year ago.  Wow – that's bad – or is it?  The report said that 1 in 519 homes received a foreclosure notice last month.  That's a whopping 2/10 of one percent.  That translates to about the 2% of homes that have been reported in the process of foreclosure during the past year.  My own home has dropped in value by about 20%  - should I be concerned?  Maybe I should try to sell it now, before it is worth nothing. The real estate agents would love that. 

The news is full of stories about how bad times are.  I think that it's tight economically right now, but certainly it is not dire.  I'm just not ready to buy into that thinking right now – of course I'm an optimist.  When I start missing meals and only after I lose that extra 20 pounds am I ready to declare an emergency.  But hey – that's me and I've always made it a point to look out for rainy days.  Perhaps my world is different – what's your world like?