No doubt...the real "wild card" is "energy prices." They have to and will factor into the economy...and they will. I would also agree, the people hardest hit by gas prices are the people on "fixed incomes," salaried employees. If you have no control over your pay, I understand the fear...I do...
BUT....up to this point, the horriffic predictions of the masses have been....WRONG. No one can argue that. NO ONE.
What's more...the US Economy is, and this is available even in the doom and gloom media, "remarkably resilient." We got hammered during 9/11....and guess what? We're fine. The media said, "Hurricane Katrina will most certainly put the economy into a recession." Guess what? Didn't happen. Then there was the subprime mess....OMG, we're all doomed....nearly 3% of the mortgages are DOOMED! Funny thing happened on the way to reading the papers and reports....EVERYONE forgot to study up on banking and the mess that is the sub prime debacle...it's a relatively SMALL piece of the biz...and many of those people who got loans in the first place should NEVER have gotten them. Not to mention, there were some very silly banking policies that fueld that mess.....That's being fixed now.
Then we have Global Warming...Al Gore and others out there are profiting from scaring good people into oblivion are making LOADS of money because, "the earth is in SERIOUS jeopardy...." Hell, even CO is profiting from Global Warming for crying out loud! Meanwhile that moron from TN continues to screw US by flying his Gulfstream and not flying commercial...because in his little world, making money is more important than saving the earth...wait...isn't he making money telling all of us to save the earth? And he's not? (I love bleeding heart libs like that idiot, Al Gore)
Next up, a couple of guys names Buffet and Soros, who the world seems to love for some silly reason, decided to drive the dollar into the crapper because they hate the direction of the current leadership in the country....and drive the Euro AFTER the EU had artificially propped it up. Their stroke of genius? Only that they took advantage of inirtia....and the media bought it...and sold everyone "how terrible" things are...
Next up, the oil crisis...."oil is going to $200 a barrel." (Frankly, that would be a good thing from my vantage point.) "Now we're really f-ed" proclaims a media bent on selling doom and gloom to the public.
Funny thing though....a great number of economists publicly stated, "we believe the US Economy can actually sustain $150 per barrel oil prices with minimal damage." There is pretty much only one way you can find that piece of information...and that is to use USA Today for lining in a bird cage and read a "boring" rag like "The Economist" where they aren't tryingt to sell fear.
And, get this...Millie Vanillie and The Fat Lady are in the back, behind the scenes, tuning up their vocal chords, getting ready to sing....for the demise of this bubble known as $130 per barrel oil. Will it come back to WHERE OPEC SEES IT? $60 t0 $70 a barrel? Who knows....and even if it does, what's the next crisis that will bring an end to the earth?
http://news.sky.com/skynews/article/0,,91211-1317363,00.html
Okay....so I'm in a mood...and thats my rant...
But I'm just SOOO irritated by all this "things are soooo bad" crap. Am I in denial? Maybe....I doubt it...but if it makes others feel good to think I am, that's fine....just remember that when everyone told me "things are really bad" and I was living in blissful stupidity, building, please remember to not tax me into 27 years of craziness....simply because I chose not to participate in this f-ing "recession."
Off the box....