Whether the economy II

Oil today below $52 per barrel. There are few things that can be more positive for the economy than that.

Flip side - weak earnings report last night from Intel; terrible earnings from home builder Lennar this morning.

Historically, weak housing plus weak homebuilding equals recession. Not clear now, with export markets booming, unemployment still very low (probably a lot of the construction workers now out of work are illegals, so they don't show up in the unemployment numbers), and still attractive interest rates, along with rising financial assets from the recent market run.

My bet - the Goldilocks economy.

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