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It's Not ALL Bad News...

October 22nd, 2008 at 08:11 pm

Post from my Money Wise Coach blog earlier today...

You'd never guess there was any good news in the economy based on the gloomy headlines and the lack of consumer confidence. The economy is definitely in turmoil right now, but I've always felt that the media focused on the negative news and buried any good news.

So I was thrilled to see "10 Things That Are Going Right" on Kiplinger.com today.

According to the guys at Kiplinger, there are a few reasons to be optimistic about after all:

1. Oil prices have dropped 50% in the last three months. I have definitely noticed this at the gas pumps as gas prices have dropped from over $4 per gallon to $2.33 per gallon earlier this week. This will definitely help the old pocket book each time we fill up.

2. Deals on new cars are abundant as car makers have suffered a double digit decline in sales. This is good news for consumers in the market for a new car. In addition, car makers have finally started developing hybrid and alternative fuel vehicles which should have long-lasting benefits.

3. Interest rates are low and are expected to go lower. So again, consumers in the market for a new car or house should benefit.

4. Home prices are down significantly, which is good news for first time home buyers who were previously priced out of the market.

5. Bank deposits have never been safer. Thanks to the bailout plan FDIC insurance on checking and savings accounts and CDs held at FDIC insured banks has more than doubled.

6. Stocks are on sale. If you have time on your side (10 or more years to invest), you should definitely take advantage of the down market to buy low (remember buy low, sell high?).

7. Technology continues to advance, which means televisions, computers and other tech gadgets are super cheap.

8. U.S. harvests have had one of the best years ever (I didn't know this, did you?), which means U.S. exports are up, and profits are up, allowing farmers to pay down debt.

9. The November elections mean new leadership for the U.S. and optimism for positive change going forward. After the year we’ve had, who wouldn't be happy about a change in leadership?

10. Expect bargains and great deals this holiday season. Retail sales are expected to be slow this holiday shopping season, which means retailers are planning on giving deep discounts. If you're a bargain shopper, this is good news indeed Smile

So, it's not all bad news... Thanks to the folks at Kiplinger.com for giving us something to be happy about.

3 Responses to “It's Not ALL Bad News...”

  1. gamecock43 Says:

    Thank you! This list reminded me of a lot of good things coming from this economy. I had forgotten today. You should add~people are starting to live within their means rather than on credit.

  2. kristinecfp Says:

    "You should add~people are starting to live within their means rather than on credit."

    - very true! my dh has never used credit but he used to be quite the spender... he has totally changed the way he thinks about spending thanks to this economy. Since I'm the saver in the family, I am very grateful for the change in him!

  3. Broken Arrow Says:

    Good list! It truly is a buyer's market out there right now, for those who have been responsible with their money and credit.

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