I Hope Our Economy is Sluggish
There are those that write about the sluggishness or potential sluggishness of the U.S. economy in future years. In my opinion this is a best case scenario.
Personally I fear it may be worse then sluggish.
Not only are there issues with “failing” banks some of which like AIG that should have already failed but weren’t allowed to and still need to fail (only now fail with taxpayer dollars). There is this issue regarding the commercial retail market that is in the midst of serious deterioration. And also there is the bubble in treasuries which Buffet has been warning about created by our government. Then on top of that there is the mortgage backed securities market which is up over 40% while at the same time defaults are approaching 10%. This is a government created bubble still being pushed by Frannie and Freddie.
Add to this “sluggish” economic recovery a monstrous health care spending and taxes coupled with energy taxes and control under the guises of health care reform and cap-n-trade and “our economy being sluggish” may be quite an understated.
