As you know, my theory is that the Late Great Housing Bubble served as a nice comfortable little band-aid for the past few years, letting Americans live beyond their means, feel wealthy and fund Wal-Mart Chinese cheap crap shopping sprees.
It feels pretty good when you feel wealthy. And it sucks bigtime when you wake up to realize that the wealth was a mirage, your job has been exported, and you have crushing, lasting, paralyzing debt.
The latest Newsweek "on the right track" number is a shockingly low 28% - with 64% feeling dissatisfied with how things are going in the US.
So, how low will the "satisfied" number get now? And for extra credit, how low will George Bush's 30% "favorable" rating go, now that home wealth is disappearing faster than his 2004 campaign pledges?
It feels pretty good when you feel wealthy. And it sucks bigtime when you wake up to realize that the wealth was a mirage, your job has been exported, and you have crushing, lasting, paralyzing debt.
The latest Newsweek "on the right track" number is a shockingly low 28% - with 64% feeling dissatisfied with how things are going in the US.
So, how low will the "satisfied" number get now? And for extra credit, how low will George Bush's 30% "favorable" rating go, now that home wealth is disappearing faster than his 2004 campaign pledges?
