What causes the speaker in "Sonnet 29" to feel better?

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Sonnets break into sections, and the turning point in this sonnet is the line 10: “Haply I think on thee, and then my state…”  After speaking of his moments of despair, envy, and depression in the first sections, the speaker tells of how he emerges from that depressed state; by thinking of his love, the very fact of her/his existence, the speaker feels blessed and rich, and would not change places with the richest person.  This sonnet, then, is an Elizabethan version of the modern wisdom:  count your blessings.  It is a compliment to the graceful, warm personality of the receiver, the very existence of whom is a treasure to the speaker.