Should we be optimistic?

I have had a lot of other things on my plate and haven't been able to write as regularly as I would like. But I am going to try to increase the volume of posts by putting out more quick hits like this one that capture my macro view without a specific topic behind it because I was thinking about this question this morning and felt that I had something of value to write.
The question is about where we are headed next. Right now, you continue to hear headlines about Spain and their needing a bailout, about Greece and their needing one, about a double dip in the UK and the fiscal cliff in the US and so on. On the other hand, in the US, the housing market has perked up and in Ireland, the country has returned to growth and the capital markets. At the same time, we have over 25% unemployment in...


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