economy schmeconomy

my thoughts from a survey at the learning curve:

1. How do you think the economy is doing?
I think the economy is mediocre. There is some muted growth but consumer confidence is down and the market is lack luster; people are still hungover from the roaring 90's.

2. How do you think the stock market will do for the remainder of the year and into 2006?
The optimist in me says 5% for the S&P but the realist says "flat".

3. Do you think the bull market is over?
I think we're at the tail end of the bull market, '06 will be ugly for stocks (I'm hanging on to my blue chips though).

4. Do you think the real estate market is in a bubble? Has that bubble ended?
I think real estate in hot markets has plateaued. Analysts said Boston would "pop" like it did in the early 90's but it hasn't (I live there). However, Boston is a hot condo market and the units are predominantly owner-occupied, no one is buying 10 condos as rental properties like they did in '91. I think places like Florida should be worrying about housing sustainability--highly leveraged people with little experience, tunnel vision, and herd mentality have been picking up handfuls of properties in places like ft. lauderdale and tampa. I don't know if there is a viable rental market for all of these apartments.

5. What do you think about inflation? Have you noticed any inflation in things other than energy prices?
What inflation?

6. Have you made any lifestyle changes because of the rise in energy prices? Have you changed how you spend money or the kinds of activities you participate in on evenings and weekends?
I don't drive much because I live in the city so I haven't really been effected by high energy prices yet (just wait until winter rolls around). My discretionary spending hasn't changed much: movies & beer.