It's the Economy, and We're All Stupid

Here's Robert Samuelson on the improving (or declining) economy:

Gosh, the news seems good. People should have ample spending money. After the Iraq war, confidence indicators have increased. So have profits and stocks. Corporate debt levels have dropped -- a point Greenspan has emphasized -- freeing cash for plant and equipment spending. Why shouldn't the economy get better? Well, here are a few reasons: