The TOP IS IN

IMHO yes it is!

We have already set historic records of debt. We have borrowed the world's savings to fund our consumption. A consumption society we have, our capital stock has suffered.

GOV spending becomes a larger part of GDP, any slowing in GOV spending weakens GDP, any GOV spending weakens private sector investment.

We had double whammy, increased GOV spending and HISTORIC TAX CUTS and FED STIMULUS.....it has resulted in the WEAKEST growth in wages and jobs in history.

GREEN BUM from NOV 2003

"Spreading globalization has fostered a degree of international flexibility that has raised the possibility of a benign resolution to the U.S. current account imbalance," Greenspan said in his speech to a monetary conference at the Cato Institute." (this guy is oN ACID!)

FEB 2004
WASHINGTON -- Federal Reserve Chairman Alan Greenspan said Wednesday the economy had been showing "impressive gains," even as he warned that mushrooming federal budget deficits could derail the progress. (what the????)

We in a heap a trouble Pilgrim!

D