Mister Boffo (8/24/09)

08-24-09 (Mister Boffo)

The chart in today’s Mister Boffo makes for a good representation of our national economy from, say, the mid-1990s through the end of 2007. A brief recession notwithstanding, the stock market, home prices and individual spending went up, up, up. What no one seemed to notice, however, was that all of those good indicators were hopelessly inflated. That house next door wasn’t really worth $400,000. And the stock market had no business climbing above 12,000. Now that our economy has deflated, I’m hoping for a slow, steady, sustainable period of growth rather than a dramatic and risky scheme that will list us back into the (phony) stratosphere. We’ve already been goosed once. Let’s not let it happen again.

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