It's not what we'd like to see.
We've been able to achieve great things amid great challenges- including the stock market crash of 1987, the bursting of the stock bubble in 2000, two wars and the September 11, 2001, terror attacks. Alan Greenspan might be thought of as our most valuable economic player.
While companies have bigger stacks of chips to play with, they still remain hesitant to put many of them into the pot.
It has surprised all of us that the economy has performed so strongly, but we think that the accumulated influence of higher rates both in the market and by the Fed will begin to take a little bit of starch out of the economy.
We've given the auto industry steroids, and we might be looking at a period of withdrawal as auto companies wean themselves from these stimulants.
Eighteen years of excellence has earned Greenspan the benefit of the doubt when blame is being allocated.
Outside of Detroit -- and outside of the gulf region -- there are signs that the economy is still doing very well.
Unfortunately, I don't think the news tomorrow morning will put smiles on any faces.
It's a good time to make sure your debt is at a reasonable level.
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