Lawmakers Aren’t Ready to Act
Chuck worries that lawmakers won’t wield the political will necessary to do something about the debt. So far we’ve seen no evidence to calm ourselves on that point.
Add to that the fact that housing is still searching for a bottom and many of the jobs lost since 2008 aren’t coming back.
While the American consumer—whether unemployed, paying an underwater mortgage, or just battening down the hatches—can actually repair her own balance sheet, it’ll probably just be in time for a bout of rising inflation. Chuck calls this our Sword of Damocles.
But lest we give only worries, let’s hear some thoughts from our Middle Eastern pal in Dubai, who’s not at all as worried as the rest of us.
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