Pro's and con's of the current economic situation

I would just like to point out a few benefits of the recession which I have heard little about from the news media.

1. Lower housing prices mean lower rents which will help boost consumer spending
2. Weak dollar will lead to economic growth through stimulating exports (our goods will be cheaper to the rest of the world) and eventually creating jobs (hopefully lowering the deficit). The weak dollar will also stimulate the profits of American companies, a lot of whom are multinational. The goods they sell overseas will be earning foreign currency which will convert to higher amounts than if the dollar was strong.

There are also a few signs that are troubling to me right now:

1. High commodity prices, particularly copper and oil.
2. Extremely low interest rates, this suggests that we still have a significant amount of de-leveraging left to occur. If this is not the case then interest rates will begin to increase (unless the Federal Reserve slows the growth of the money supply) and constrict demand.

At the end of the day there are people and companies in the USA still trying to create the next Google and who are constantly inventing and improving upon our current ways of life. This will not stop simply because of the housing crisis.