Positive Economic Numbers…Are We Recovering?

The Associated Press released this information today regarding the positive number of the Dow Jones:

NEW YORK (AP) — The Dow Jones industrials rose back above 9,000 for the first time since early January. Investors snapped up a broad range of stocks Thursday, sending major indexes up more than 2 percent, after existing home sales jumped for the third straight month in June. The 3.6 percent increase in home sales has investors excited that the hard-hit housing market might be improving. The National Association of Realtors said sales came in at 4.89 million, above the 4.84 million analysts had been expecting.

If we keep seeing people get back into the market, the tide could move in the right direction for all of us. The question is, have we hit the bottom? In my opinion if we haven’t hit the bottom in this bad economy, we are pretty darn close.

The Associated Press also released these numbers today:

WASHINGTON (AP) — The U.S. housing market has started to recover from the most far-reaching crisis since the Great Depression, data released Thursday show. Sales of previously occupied homes rose for the third month in a row in June, the National Association of Realtors reported. That hasn’t happened since early 2004, during the boom. “The turnaround in the housing market appears finally to be here and indeed may be gaining some speed,” wrote Joel Naroff, president of Naroff Economic Advisors Inc.

I find this latest news to be a truly encouraging considering all the negative data we generally see. I continue to put my faith in America’s economic recovery in the people of this great nation. I don’t believe that government will get us out of this mess, but however it will be the entrepreneurial spirit of our citizenry. I don’t believe that we can spend our way into prosperity and hope for positive results. In the end, these latest numbers can give us some optimism, that we will get through these tough times. As I publish this, I am watching the Dow Jones, and it currently sits at 9082.97…keep rising!

Thursday, July 23rd, 2009 Economics

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