I remain optimistic that housing is nearing a bottom. Collapsing prices have created very good buying opportunities and a pick up in home shopper traffic. Add to the fall in prices, the recent sharp reduction in 15 and 30 year mortgage interest rates (now under 5%) and housing is becoming very, very cheap by any standard, including replacement cost.

Investors decided in September and October that the global economy was not decoupled from the US economy and slammed both international and domestic stocks. If the US was catching a cold, then the rest of the world would soon be sniffling.

We thank the Lord for this wonderful season of the year, when we gather together with family and friends to celebrate Christmas with gift-giving and feasts fit for a king. This is as it should be because at this time of the year, we do celebrate the birth of our King, Jesus Christ.

We know family is very important to God. Jesus said that through Him we would become children of God, and we could call God "abba." As most everyone knows abba means something more akin to daddy, than king.

McDonald (MCD) may be as well positioned as any company I can think of to prosper during these difficult times. The reason is the effects of three forces that all appear to be driving business to their stores.

The news that Bernard Madoff may have stolen $50 billion from his clients puts an exclamation point on a tragic year for the finance industry. It’s one thing to make stupid subprime investmentments, as much of Wall Street and some of the banks have done, but it's another ball game when an individual outright steals people’s money. That is bottom of the barrel stuff, especially when so much of the money belonged to foundations whose aim it is to help those less fortunate.