Consumers are finding confidence in continuing to spend. Granted it seems finally common sense has entered the picture.
Yet we see these incredible deals when it comes to starting a new credit card...
Look this economy is not in reality getting better. Its true that the bear crashes of the last year and half or so were over-reaction, but reflect the fact that there are tons of people out there with no jobs... homeless... collecting from a govt that is broke.
In Hawaii, 1 of 11... collect food stamps... WHAT? yes 1 of every 11 persons supposedly collect food stamps in Hawaii. That is just another example where the govt is already trying to increase taxes to make up for lost income... but the conundrum(spelling?) is that citizens are using more govt resources than ever before. Somethings gotta give.
Now its not like i like seeing a bunch of homeless/jobless people around. There are people who lost pretty well paying jobs and have 3 kids, a mortgage and car payments.
In the end.. I continue to keep my life simple... and pay of debt as quickly as i can without cutting into having a 'normal' life.
DUG/FXP are still on the radar. it briefly played with trying to fall below 15 today. Nope... The oil rally may at the very least be sputtering. I have a few $ to get some long calls on DUG. S&P may very well get to 1300... but beyond that? i really doubt it. So, i am happy for the slow crawl on this rally. just to allow me more time to be a fool and jump back in the market with the few $.