Ok I admit, I have become a CNBC junkie and I need to be broken of the habit. My routine has been arriving at the office around 6:30am and eating my yogurt and grapefruit in front of CNBC. I truly want to be informed and I find the roundtable conversations interesting and entertaining. The show attracts the titans of Wall Street and industry as well as the occasional politician. The debates range from how iPhone 5 sales will affect AAPL to the fiscal cliff to esoteric international monetary policy.
It is incumbent on all of us to be informed on global trends as the US cannot put a fence around our borders and expect to survive. Sadly and irritatingly, our savings and economy are affected by the socialist and ineffective governments of Greece and Spain!
I have been blessed to have been provided with a wonderful education (thanks Mom and Dad) and I am supposed to have detailed grasp of these macro and micro events discussed on CNBC. But I have now developed too much cynicism toward their debates. How many times does the opinion on AAPL stock change over the course of a week? How many games are played with jobs reports? How can a Foreign finance minister (who has no control over Germany) move the market so wildly? Is China going to crash or boom? I could go on and on, as I know you could…
So, bringing it back to Middle and East Tennessee, I get comfort with the local real estate markets and this is what we are seeing. Our news feed this week reports two sizable retail sales, apartment construction is rapid (could we see oversupply?), office activity is robust.
I need to depart from CNBC, quit worrying about stock prices and figure out how to own more tangible assets……maybe I will have breakfast in front of ESPN, like most American men!