Everyone thinks they know about the timing of this recession. When it will end, when it won’t end, etc… Well, I don’t pretend to know anything about it’s duration, but I do enjoy reading other peoples’ guesses.

Today I read that America’s biggest banks expect the economy to recover from this deep slump by late summer but still remain weak until next year. That’s not bad and I bet a lot of people would take that! That is only like three or four months until late summer!

“The economy will return to growth but not to health,” Bruce Kasman, chief economist for JP Morgan Chase & Co. and chairman of the American Bankers Association’s Economic Advisory Committee, said in an interview today.

This committee includes economists from Wells Fargo & Co., PNC Financial Services Group, Morgan Stanley and some others as well. They expect the gross domestic product to increase 0.5 percent in the July-September quarter, after falling a predicted 1.8 percent in the April-June period.

Ben Bernanke, who is the chairman of the Federal Reserve, also says the economy could recover by the end of this year. That is pretty optimistic talk. I hope they are not setting people up to be heartbroken. But I also think there is a lot to be said for being optimistic.

We will see if these prognostications come true when September rolls around. I am still reading on this issue. There are things written about it everywhere, so I will probably post more of my findings tomorrow.

Charlotte NC. Charlotte NC Real Estate. Charlotte North Carolina. Charlotte North Carolina Real Estate.

I had two different clients in Charlotte this week Looking at Davidson and Concord and Harrisburg real estate and I was really worried about the race crowds. But I worked my timing so I would be around the speedway during the races. I was really cool, just a few people in the parking lots, we didn’t have to set thru any lites. My last clients couldn’t believe all the campers and people that were there. We came from Concord, NC on Hwy 29 and turned left onto Morehead Rd, all the while the cars were zooming past us at the speedway. Actually the Lowes Motor speedway is in Concord, but everything around the speedway is located in Harrisburg. This was done back several years ago as a favor to Bruton Smith to get better utilities and police protection around the track. I guess the crowds might of been down a little this year due to high gas prices, but there were sure plenty of campers and camping going on all week long.
Hope you will decide to visit us and check out the speedway for yourself soon. Gary

Do you believe this headline, keep it in mind as you read the newspapers and listen to talk radio. It will soon come true. The Mayor and town council are in big trouble and will probably loose their jobs pretty soon. I just wonder if Bruton Smith was smart enough to plan this all along, or it just happened and he went with it.
Bruton Smith didn’t become a billionaire from an Oakboro, NC country boy without some smarts. I remember him talking about the giveway of all the money to the Charlotte Bobcats and the Carolina Panthers, and he said he’d never asked for any public money, Why he even paid for part of the road over to the speedway. How nice of him, well guess what he is about to get all his money back and then some. I just heard him talking about how it was going to cost about $200 million or so to remodel the current Lowes Motor Speedway, and if he can build a new place for $300 million it might just be a much better deal. I wonder what the 2000 acres of land is worth the speedway now sits on, let us see 2000 times $50K per acre =$100 million. So he can either stay put and invest $200 million of his own money or move tear down the speedway and sell the land and build a new state of the art facility with loads of government help and maybe pocket $200 million. Not counting the land he will be given to build a new LMS on. He did say he was a business man! I heard him! A pretty smart one at that. I and sure not only Rowan County will roll out the red carpet for him, but don’t you know Iredell is jumping up and down at the possiblity of a new LMS there. It might fit somewhere between Mooresville and Salisbury, Let me think, HWY 70 needs to be upgraded to I70 between Statesville and Salisbury. This way both Iredell and Rowan could invest a 100 or 200 million each in the new facility. With a drag strip, airport, office buildings and land for raceshops and parking and who know what else. I think Concord has laid a big egg, Is it something like killing the golden goose because you are so hungry? I just don’t know but it seems Mr Smith not only went to Washington but he also is going to Fort Knox. I remember not too long ago that our Governor wrecked a car at LMS, wonder if Bruton remembers that little incident. How much money did we give google to move a plant into Lenoir, this deal is at least 50 times bigger than that. How about South Carolina, it’s not too far south is it, or the west side of Charlotte around the airport, would they care about noise there? Eastern Gastonia, I’m sure Burton would build a bridge across the Catawba river to connect with I485, he might even build a couple. If the state don’t beat him to building them first. Wow! What a coup. Once these things start there is no way to stop the snowball from getting larger.
In the end Bruton Smith and LMS and the dragway (should probably name it after the Concord mayor) will be free, completely built with our money (taxpayers) and probably Speedway Motor Sports will sell pernament seat licenses to the grandstands. When the dust settles in a few years Mr. Smith’s companies and families will have at least another billion to add to their wealth.
I can only pray that Mr. Smith takes a little time to read his Bible and will study Romans and find out that God does love us and sent his son to die for us so we would not have to go to hell. God’s son Jesus suffered our hell for us so we could spend eternity in heaven when we die. I’m sure Bruton is at least 80 and he’s in good health, but the time he has left here until he meets the Lord Jesus face to face can’t be that long. I could die tomorrow and of us could. What about it Mr. Smith what shall it profit a man if he gains the whole world but looses his soul in hell and the everlasting fire and tourment and suffering. I’m sure when Mr Smith dies and if he has not trusted Christ alone to get him to heaven then in 10 seconds after Mr Smith meets hell head on he would give up his entire fortune for another chance.

Bruton I hope somehow you have a chance to read this and think about eternity and find a Bible and Read Romans 3:10 and 3:23 this tells that we all fall short of God’s glory, none of us are good enough. Then read Romans 6:23 and Revelation 21:8 this tells about us all being sinners and that eternal life is a gift that we don’t pay for. When you get a gift it is free, all you have to do is take it. Then Read Romans 10:13 and to call on the Lord is to just call his name Lord Jesus, I know I’m a sinner and deserve to go to hell when I die, but I know that you sent you son to live and die here on earth to save me and I’m trusting him alone to take me to heaven. And I want turn from my sin and repent. And he will, as long as you remember it is nothing you do, no money you can pay, no church attendance, nothing you can do will get you to heaven no rituals, nothing. Only trusting Christ. Just like the man needed to trust the tight road walker by getting in the wheelbarrow and then being pushed across the falls, he told the tightrope walker he believe he could push him acorss the falls in the wheelbarrow, but when the tightrope walker told him to get in the wheelbarrow he ran, he believed but he didn’t trust, this is how you trust Christ, you have to be willing to let Christ take you to heaven and just trust him, nothing else.
Mr Smith should you do this let me know, it’s important!
Gary Mitchell 704-578-9789
I’ll pray for you until then!