Optimism

Two actions occurred today that tell me we are on the road to recovery.  The bottom has been reached in the respect of contraction of the world to establish a new credit base with the result being most people reevaluating how they use credit and how to be more conservative.  The market stayed above 8,000.  First, Wells Fargo bought Wachovia and Citi backed off.  That is a great sign of free enterprise.  The government got out of the way.  It doesn't matter that Citi is going to follow through with a lawsuit for breach of contract.  That is part of the system, although I don't think is a wise decision.  Citi should be focused on their liabilities and how to support their share price.  Second, the Fed came out and said the government is going to buy stock shares of financial institutions with the plan of making a gain later when the share price rises.  That makes good business sense to me and using part of the $700 billion in this way is is a wise use of the money that will be printed for this purpose.  I have lost on paper 60% of my investment in stocks, yet I am optimistic.  I have full confidence in this country to rise up in any situation.  Our ancestors have and their energy help us continue the tradition.  

Now I am waiting for the third sign to reinforce my optimism.  I do believe in the rule of three.