Replies to post #10534 on Profunds index and sector trading (PRO)

[otraque]

In that regard the worst thing Greenspan said that he put forth as GOOD news is that household spending continues to escalate but not noting their debt load is rising AND pent up demand is being exhausted.
Put escalating household spending/rising debt and pent up demand reaching an exhaustion point and that rationally calls for one to paint the future in dark shades of grey, maybe to even paint it black.
He was forthright is saying he is extremely worried about 1909--he is frankly saying if we do NOT change matters regards deficit the SSI will be bankrupt in the future.
He says it is imperative that those nearing retirement be told NOW not too count on SSI as matters stand now.

[mjfdl]

Steve the future always "looks" bleak...thats my point I guess.We are usually wrong.

IMO its too easy to look for negatives because thats all we seem to get from the press.It sells newspapers...always has,always will.

What seems to always happen with gloomy analysis is it always pretends problems can be extrapolated into the future in a static environment.

In reality...especially in this country (and its one of our great strengths) problems are being solved and worked on every day in a dynamic environment, by free people who have a great stake in making things better.Its so fundamentally basic to any problem that you want to look at...yet it is always discounted to the extreme...by the press,by so called expert economists,by ourselves...and maybe most importantly by our enemies.

Thats my way of looking at the world...and I'm sticking to it.
If that is pollyannaish so be it as well.I think it explains quite well why we as a nation have overcome every major obstacle to date, in our existance.

Thanks for letting me vent a little and allowing me to post an alternate view.Its a great thread when we can discuss these matters without anyone getting too bent about it.

For sure in the shorter term you could be very right and I'll look wrong...but I hope for the longer term ,for all our sakes, I'm right.