Down, Down, Down

The stock market keeps going down despite a few rallies. A few more bad days on Wall Street, and Main Street will feel even more of a pinch than it already does.

The canary in the coal mine has been easy credit drying up and causing the housing market to contract. Since housing is virtually the only thing we produce in America anymore, the whole economy rests on suburban expansion, an enterprise that's a recipe for disaster. We can only build so many houses and so many shopping centers and highways to serve them before the bottom drops out.

Looks like it's about to. :-O