At The Head Of The Parade
Published: September 8th, 2008
By: Tom Morgan

At the head of the parade

You can listen to the guys who predict doom for our economy. You can listen to those who predict world recession. Or you can look at some facts. When you do, you might come to more positive conclusions.

I am not saying all is rosy. However, some of these facts look pretty encouraging.

Our Gross Domestic Product rose 3.2 percent last quarter. Our exports were particularly strong. Those are good figures. Those who predicted we would be knee-deep in recession by now have red faces.

The number of people filing for unemployment benefits has declined for a few weeks. Another encouraging sign.

The median family income is gradually moving up, after it was stalled. The average family is gaining more disposable income gradually. Good signs.

We should see inflation slow down. That will be welcome by most Americans. We have already seen gasoline prices drop. World oil prices have fallen about 40 percent. Heating oil prices are slipping. Almost all consumers will be happy with this.

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Meanwhile the companies that make and ship our products will welcome the lower energy prices too.

Oil is not the only commodity whose price has fallen. The price of wheat has fallen. So has corn’s. And soybeans’ price. And cotton’s. And cocoa’s. (Think candy bars.) And coffee’s. And prices on a range of the metals that go into our various products.

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