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[Gene GeRue <genegerue AT ruralize.com>]

> Some differences of opinion from Roubini and Greenspan over the 
> state of the economy and the affects of the housing market.

Another thought I have on economic forecasts: The US economy is huge 
and while it certainly waxes and wanes, it is highly unlikely that it 
will ever fall hard as it did in 1929. The Fed control of interest 
rates is the power steering control on the economy.

As for recession, we may have reached the point where it is not 
pertinent to make general national statements. Various parts of the 
US are very strong economies unto themselves. California is said to 
be between the sixth and tenth largest finite economy in the world. 
Most big US cities are affected by the national economy but they have 
many local factors that smooth out the bumps even as they are 
exacerbated by the national economy.

The other thought I have is that bloggers are a new phenomenon. 
Anyone with a computer connected to the Internet has almost unlimited 
access to virtually unlimited information. Instant experts. A species 
that thrives on self-importance, needs it for self-identity, now has 
the ability to speak, spout, shout to a virtually unlimited audience. 
Power! Ah, but there is also huge competition. Yes, and that is why, 
I believe, the verbage has become so outrageous and outlandish. 
Orwell and Huxley might call bloggerese shout-speak. In addition to 
that, I think of it as shallow-speak and silly-speak. Turns me off.