Its Positivity Day!
Today is positivity day at The Big Picture!
Last night on the show, Kudlow said the site was "the best financial blog on the internet, but it made him want to reach for hanky it so depressing." So today will be nothing but positive news, all day, all the time!
Here's a few headlines:
• Crude oil fell $2.77 to $61.51 a barrel, the biggest one-day drop since August 2005.
• The consumer continues to shop -- since ~70% of GDP is consumer spendign related, this is good for the economy.
• On Friday, BLS revealed that Unemployment fell to 4.4%; Wages improved.• The Fed model -- a measure of stock valuation using earnings yield versus the
30 year10 year yield, shows that stocks are approximatelty 20-40% undervalued.• Earnings season kicks off this week, and this is expected to be the 20th consecutive quarter of positive earnings growth.
• US equity Markets are higher than they were 6 months, 1 year and 5 years ago. The 50 and 200 day moving av erages are positively sloped.
• M&A, share buybacks, and private equity deals continue unabated.• The Housing market has not caused a collapse in the economy or the stock markets
• Senator John McCain says the surge appears to be working!
And look at this: the weather forecast for today: Mostly sunny, with a high near 50.
Tuesday, April 10, 2007 | 07:34 AM | Permalink
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Comments
I feel so dirty now . . .
Posted by: Barry Ritholtz | Apr 10, 2007 7:51:55 AM
I can contribute.
DHI announced today that it's quarterly cancellation rate didn't get worse!
(It didn't improve, either)
Posted by: winjr | Apr 10, 2007 7:56:02 AM
I bet your dog (and Mrs. BP) ignores you for a couple days. That'll teach you to talk positive on Kudlow and make silly promises. I bet LK doesn't have a dog (or vice versa). Even in the animal kingdom there is respect.
Posted by: Craig | Apr 10, 2007 8:06:47 AM
Where is Barry Ritholtz and what did you do to him? If you don't release him right now, I'm calling the FBI and Arthur Laffer.
Posted by: Nova Law | Apr 10, 2007 8:08:15 AM
Barry--you may want to check your cold medicine dosage!
In truth, though, we tend to focus on the negative aspects rather than the positive. But we also have a tendency to underestimate (or at the very least) mis-time calamities. I'm not quite sure how the good v. bad should be probability weighted.
Posted by: Leisa | Apr 10, 2007 8:27:11 AM
As an aside...to BR and to BR's readers: which blogs to you consider to be top notch (including/among the blogs listed to the left)?
Posted by: johntron | Apr 10, 2007 8:29:34 AM
Barry, don't give in. These positive bias posts are boring. Reminds me of a line from Spaceballs: "And now you see that evil will always prevail, because good is dumb."
Posted by: Adam | Apr 10, 2007 8:31:44 AM
This ranks right up there with the Stephen Roach capitulation last spring.
More fuel;
Thousands take to the streets in Iraq to celebrate the aniversary of their liberation.
China sees relations so good with U.S. they see no need to attend G7 meetings.
Posted by: tjofpa | Apr 10, 2007 8:51:06 AM
with all the "good" news it should be a red day for wall street..... :-)
gold 680$ signaling strong demand for jewellery... lol!
Posted by: jmf | Apr 10, 2007 8:59:25 AM
McCain won't win the presidency because he is stubborn about his position about the Iraq war. someone ought to go in there and give him a view from the street.
Posted by: Richard | Apr 10, 2007 9:12:56 AM
"The Housing market has not caused a collapse in the economy or the stock markets"
The sentence needs "yet" -- to reflect the reality.
"The Housing market has not 'yet' caused a collapse in the economy or the stock markets"
Posted by: V L | Apr 10, 2007 9:21:55 AM
Been watching Fox News?
Posted by: Gayla | Apr 10, 2007 9:23:04 AM
and number one reason to be happy---no Imus for two weeks!!!!
Posted by: lurker | Apr 10, 2007 9:29:34 AM
Might as well move to Jersey and get a job with CNBC.
CAH-CHING!
Posted by: KP | Apr 10, 2007 9:33:27 AM
"In truth, though, we tend to focus on the negative aspects rather than the positive. But we also have a tendency to underestimate (or at the very least) mis-time calamities."
Turning back the clock 25 years to my college days, "The Fate of the Earth" and "How to Profit During the Coming Bad years" were best sellers. Biblical prophecy about the coming end of the world was a growth industry (Hal Lindsay, et al.). we were running out of oil. Reagan was going to blow up the planet. Etc etc.
Of course, we were actually at the beginning of a major economic expansion and bull market and the USSR would not survive the end of the decade. There is something to those sentiment indicators.
Posted by: The Dirty Mac | Apr 10, 2007 9:36:07 AM
Its more like "balanced" day
Posted by: mary | Apr 10, 2007 9:45:41 AM
Delicious Sarcasm.
And the trade balance is still growing positively the way it was before!
Posted by: Louis | Apr 10, 2007 9:52:00 AM
Oh. I get it!
Balance is when you make an equal number of incorrect statements interspersed with correct statements.
That explains "Fair and Balanced" perfectly.
Apparently we are entering an era where all information, correct or not is "equal".
This isn't recency, it's retardation.
Posted by: Craig | Apr 10, 2007 9:56:11 AM
John McCain is the new and improved Bob Dole.
Posted by: MAS (San Diego) | Apr 10, 2007 9:59:42 AM
I can contribute:
Housing worries deepen on DR Horton sales slump.
Citigroup Chief Executive Charles O. Prince III plans to eliminate or reassign more than 26,000 jobs, or 8 percent of its work force.
Posted by: me | Apr 10, 2007 10:11:33 AM
Improved Bob Dole is an oxymoron.
Posted by: Craig | Apr 10, 2007 10:13:11 AM
Candide and I thank you for taking us up on our invitation the other day. Welcome to the best of all possible worlds, sit down and have a beer with Mr Lereah.
Enjoyed Mike Larson's column the other day http://www.moneyandmarkets.com/press.asp?rls_id=743&cat_id=6&
which got me to thinking, all the great minds at work on this blog, let's put them to use by having you run a contest to identify the NEXT BIG THING - leveraged buy outs of cornfields, Chinese this that and the other thing, publicly traded hedge funds, global warming futures, or some of those boring traditional alternatives - stocks, bonds, commodities, etc. I mean, if catching the next liquidity wave sloshing around is how to make the big bucks, lets figure it out.
Also any take on all these China trade developments (trade rep resigns for personal reasons (yeah right) hours before the coated paper tarif is announced, now this new round of beating on them over intellectual properties and limited American market access in china) and how it might all play out, dollar decline/inflation impact etc or is this all talk that will go puff and not impact anyone?
Lewis
Posted by: lewis | Apr 10, 2007 10:14:59 AM
after all the happy talk, aren't you supposed to ask for contributions so's you can keep on spreadin' the word all around the world?
Posted by: Bob A | Apr 10, 2007 10:17:16 AM
Barry-
How about those BLS numbers!!! Although I did'nt see your spot on krudlow last night I bet not one of you guys mentioned that in order to get that "low" unemployment # the FEB. AND JAN. numbers were revised again (since Jan.s was revised previously in Feb.) to get that all important 1/10th of a point tick down in the unemployment rate.
Oh sorry this is "positive day"
How about them Yankees??
Cia0
MS
Posted by: Michael SChumacher | Apr 10, 2007 10:18:15 AM
The trade balance the commercial sector has with the government is positive!
The Asian central banks have big account balances at the Fed to protect them from another 1997-style meltdown!
Former sub-prime office space is available for new entrepreneurial ideas!
Iranians, Norwegians, and Nigerians are getting rich!
Temperatures are a bit higher here during Chicago's winter than when I was born!
Almost of third of Americans think our President is doing a great job!
Don Imus gives us something to talk about!
Posted by: VennData | Apr 10, 2007 10:19:18 AM
