looming crises

several of the so-called crises facing the US economy seem overblown to me: the trade deficit, the weak dollar, the deficit-interest rate myth (i use 'conservative' bruce bartlett since he become a media darling due to his bush-bashing...if they prop him up now, they can't disavow what he said earlier)

however real problems include the potential pension system collapse
while the private sector stumbles, public sector employees demand even more (luckily this effort failed).

looming closer is a housing bubble burst. the usa today goes anecdotal to illustrate the problem. gimmicks like adjustable rate mortages and interest only loans will come home to roost just like the s&l crisis

¶ - nitish @ 12:54 PM