Originally Posted by
Turbo Joe
How's that Kool-Aid taste?
I'm not saying the sky is currently falling, but with stagnant or falling wages, the economic "boom" you mention has been largely (re-)financed by the housing bubble...if it pops, the S&L crisis will look like a walk in the park. Spending imaginary/borrowed money to keep the economy going is not a sustainable plan. Crazy government borrowing levels and a retarded foreign policy is rotting our economy from the inside.
all that housing "appreciation" everyone was so excited about is turning out to be nothing more than "inflation" to the cost of living for the vast majority of americans.. hopefully in 08 when the new regine gets in and we are out of iraq, we can turn it around.. and hopefully spend some of that money on education.. then pray we catch back up with the rest of the world..