No, it's not. This is what we expect to hear, because it will match how we feel. Investors are letting the stock market be their master, rather than forcing it to be their servant, as it should be. You'd never believe it reading the headlines, though. Oh sure, we've got problems.
Corporate debt is up, which is troublesome.
Let there be no doubt that any one of these factors would be enough to cause a weak economy to teeter. Several sectors of the stock market, most notably Internet, telecommunications, and banking, have been hammered. This is a perspective that seems to be utterly lost in financial coverage. This perspective, more than anything else, is causing a fair portion of investors to get very nervous. I had the opportunity to meet Lou Dobbs, former host of CNN's Moneyline , a few weeks ago.