Long overdue credit to a good man
Posted by Charles II on November 21, 2012
The world is not coming to an end, and has not been since Democrats took charge of Washington.
You have to interact with Bill McBride to understand how modest and gentle a guy he is. I’m not as optimistic as he is… but he’s been right when I have been wrong. Now, maybe that’s because the Fed made him right, but in investing, being right for the wrong reasons beats being wrong for the right reasons.
So, I’d like to give a little thanksgiving for Bill McBride, who has been a voice of insight and sanity during a very confusing time. And I hope he’s right, that the turnaround in housing signals a sustained rebound in the economy. From Business Insider:
I’m not a roaring bull, but looking forward, this is the best shape we’ve been in since ’97 or something.
In 97, I started worrying about what was going to happen when the stock bubble burst. By the time you got to the decent part of the Bush economy 2004-2005, I was so worried about housing I didn’t think much about the economy. Looking forward, this is the best we’ve been since then. We have plenty of problems to work through, but gosh, housing is going to be a tailwind for some time.
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