A comment responding to the financial post quoting Abelson below. Please remember your comments are always welcome through the comments section or by e-mail.
Read your column on Abelson and will not be so bold as to challenge him, caution is certainly a recommended policy when dealing with money.
On the other hand go to our friend Kudlow and read that the conditions in place, low interest rates, strong corporate earnings point to a continuing strong economy. I think the housing trouble in the shaky credit risk market is overblown. There is already some movement to find refinancing help there. The fact that a couple of the operators in this market are going belly up is good news. THey should not be promoting debt to people who would be crushed by the slightest set backs. The rest of the housing market will weather this blip and regain traction. There may be some overevalution in real estate but remember our populations grows & grows and the folks need a roof over their heads.
We have had a great run due to the Bush tax cuts, he has fumbled some stuff but not the economic policy. The tax cuts are bringing in record revenues. You should do a column on that. The rest of the media keep hammering him, I still find Katrina popping up but no mention of the tax revenue flowing in from the tax cuts. One point made in the Kudlow blog by a panelist, the capital gains revenue is from a voluntary tax. If it were not 15% lots of people would sit on gains and a no tax would occur.( less business activity)
The real danger to our economy is the Democrats who if they had their way would repeal the cuts out of straight demogogery not economic insight.
Next, I have been reading about consumer debt for years and somehow it never comes to have an adverse impact on the economic engine. I'm not sure about this but I simply think as the ecomony grows the debt gets handled. Corporate spending fell back a couple of years ago and is probably due to pick up.
So don't run out and do something reckless, listen to the cautionary advice but take a look at what has happened with the low interest rates and tax cuts and do your darndest to get the message out so that a few more people realize what has happened and don't fall for the Democratic message of the tax cuts benefiting only the wealthy and should be repealed.
Disasterous economic nonsense.