Friday, December 19, 2008

Auto Rescue

Philosophically I am opposed to government "rescuing" any business. But these are unique times, to say the least. But I am seeing glimmers of economic recovery. The low interest rate environment is stimulating some home buying. And many households will refinance their mortgages. As a result of lower home payments and gasoline at half the price per gallon as a few months ago, there will be an estimated $500 billion available for saving/investments and spending.