What If?

The pessimism about the US economy and markets has become so extreme that I think it is time for a little reality check. So, here's a list of what ifs for you to ponder:

1. What if Citigroup writing off a year's profit (which is roughly the amount they will eventually have to write off in bad loans) is really not that big a deal? See Here
2. What if the derivatives market is a zero sum game and for every loser there is a winner? See Here
3. What if a lower dollar stimulates exports to such a degree that the economy continues to grow at 3%? See Here
4. What if peak oil is just BS and prices are peaking? See Here
5. What if the dollar is really undervalued and is near a bottom against the euro? See Here
6. What if the trade deficit means nothing significant from an economic standpoint? See Here And Here
7. What if foreign investors now view the US market as a bargain? See Here
8. What if mortgage rates follow the 10 Treasury Yield down (as the always have in the past) and mortgage resets aren't as big a problem as some think?

I'll think up more of these and post later.