Everything we read about the economy these days is depressing – too much debt, scary demographics (with regard to social security and healthcare), weak political leadership and a warming planet.  As an antidote to this macro gloom, there were lots of positives in the news this week.

Billionaires in gear – It was announced that 40 billionaires have accepted Warren Buffett and Bill and Melinda Gate’s challenge to give away at least half of their wealth to charity.  Ted Turner, Larry Ellison and Michael Bloomberg are among the names that went public with their pledge.  In face of government cutbacks, it’s encouraging to see the mega-rich taking on some important global issues.  Even if our governments had the money, they probably couldn’t achieve the cross-border coordination that organizations like the Gates Foundation can. 

It feels good when you stop – BP got the well sealed and 75% of the spill has evaporated, broken down or been collected.  Yahoo!

Writing them off – Speaking of BP, I always find it interesting how quickly we write off the ‘down and outs’.  Whether it be countries (Korea, Sweden and Canada a decade ago), companies (Apple, IBM, Teck … the latter by me), politicians (Bill Clinton, Joe Who), athletes (Tommy John, Jim Plunkett, Grant Hill) or entertainers (Britney Spears, Tina Turner, Robert Downey Jr.), bad press and short-term outlooks make us jump to premature conclusions.  Besides BP, we’re doing that now with Toyota (it will never be a power again) and RIM.       

De-accumulators delight – We’re quick in these pages to remind readers that weak markets are a great opportunity for investors who are in the accumulation phase (i.e. putting money in as opposed to taking it out).  Well it’s been hard to hold the stock market down this summer and de-accumulators are being given an opportunity to re-balance and top up their cash reserves. 

A housing breather – I may be the only homeowner in the country that feels this way, but I actually think the news of a slower housing market (sales volumes down significantly and prices weakening) is a good thing.  It was getting silly six months ago and I hated to see young friends and family getting started in that type of environment. 

Now if only I can avoid reading any big picture stuff over the weekend, all will be good.