(2002-10-31) — The Dow Jones Industrial Average (DJIA) posted its best month in 16 years in October. The economy is growing at a 3.1 percent rate. Mortgage rates dropped to within .15 percent of their 30-year low. Housing starts are up.
Economists agree: We’re doomed.
“The average American is deceiving himself,” said a noted economist who’s often available for lengthy news media interviews. “Joe Sixpack thinks that everything’s going great, just because the major economic indicators are strong. Well, that just shows how ignorant most Americans are. Once more economists and reporters start talking about how bad things are, American’s will back off on that spending, stop investing in homes, and yank their money from their 401K. Then you’ll see how right I am.”

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