Here is an interesting WSJ article on the economy and how it just MIGHT not be the end of the world…unless of course we make it that way with flawed policies. Read the whole article, but this is my favorite part:
The irony is almost too much to take. Yesterday everyone was worried about excessive consumer spending, a lack of saving, exploding debt levels, and federal budget deficits. Today, our government is doing just about everything in its power to help consumers borrow more at low rates, while it is running up the budget deficit to get people to spend more. This is the tyranny of the urgent in an election year and it’s the development that investors should really worry about. It reads just like the 1970s.
The ’70s. Now that’s WAY scarier than the housing market.