Ustwo

I keep hearing how bad the economy is or will be or whatever but outside of people turning the housing market into the next ponzi scheme I am having a hard time seeing this happening in a major way.

My reasoning is simple, anecdotal, but was right for the last 'recession' too.

People are still shopping, and shopping like its going out of style in pretty much the entire Chicago area. I'm waiting in lines worse than xmass from Costco to Best Buy, Stein Mart, Borders, to Tiger Direct.

Now I'm not an economic wizard, its a section of my education I have only basic knowledge of, but I'm just wondering whats so 'bad'.

Unemployment is still very low, interest rates are low, yea some people who never should have had some homes will lose them but I just don't see where this looming danger is.

I'm thinking economists job is to make predictions and repeat them enough that people react to them as if they were true, making them in fact come true.

So those of you who are into this sort of thing, enlighten me, whats the problem exactly?

__________________
Agents of the enemies who hold office in our own government, who attempt to eliminate our "freedoms" and our "right to know" are posting among us, I fear.....on this very forum. - host

Obama - Know a Man by the friends he keeps.