Investment bankers are starting to worry about their jobs and tightening their belts. Fear pervades the executive suites and worker lunchrooms of America's steel industry. A flood of steel made cheap by the collapse of the currencies in Korea, Indonesia and Thailand is coming our way. Farmers already feel the pressure and have once again sued for support. Most Americans don't feel the pressure yet.
Jobs are still plentiful.
Wages have begun to rise. American workers are still feeling pretty good. Incumbent legislators are running on the strong economy and a budget balanced for the first time in decades. This may get them through the election, but not much further. Forty percent of the world's economy is already in recession.