Well the bulls took a bit of a setback today. Economic data was weak, and then the CFO of Google pointed out that trees don’t grow to the sky. This was at least a temporary shock, although the dip in Google was bought aggressively, presumably by folks who believe that trees are different now and we don’t need the space elevator after all.

Are we finally starting down? At least we seem to have stopped going up, which is of course a prerequisite. And the housing sales data certianly seem to be particularly weak, not a good sign gor the legions of flippers and Option-ARM mortgagors out there, gambling on continued inflation in house prices. BTW, one thing I particularly dislike is the marketing spin that refers to houses as “homes”. Home is where the heart is, and cannot be bought and sold. A house may be a home, but a home may be a house, an apartment, a tent, a boat, anywhere where someone dwells in their particular version of home.

Oh well, I’m in Nanny Cay waiting for friends to arrive and then we’re off to Sint Maarten to watch the Heineken Regatta and perhaps perform a bit of quality control on the sponsor’s product.