It seems there is a lot of ignorance in the American economy.
With the mortgage problems getting bigger(most of those ARMs will hit later and those equity loans will also hit later), gasoline going higher and higher, China playing chicken with the Fed and many other pressures(frost killed off huge amounts of agriculture, honeybees declining with no solutions, etc.)things are going south but people still are thinking Invest, invest invest when caution should be maintained.
Very dangerous behavior by the markets.
Future makes one think 5 years or more
Thats not the timeframe
The worsening environment is not even considered by the markets.
Very foolish.

(more…)