It was 1996 when Mr. Greenspan uttered the phrase irrational exuberance and since then the ultimate of double tops. 



It all started with President Clinton after he canned Lloyd Benson as Treasury Secretary and hired Goldman Sachs to be our Treasury Department  (Robert Rubin).  Mr. Greenspan warned us, nobody listened. 

The United States, local governments and individuals diverted from their long history of prudent levels of debt (except the of course the 1920's).  They were sold an image, not unlike the tobacco companies with rugged men and naked women taking life head on with smokes.  Consume, buy cars, live beyond your means  -  the government is!

There have been lots of players since Clinton and Rubin; Greenspan even changed teams during the period. 

Now, the private sector is completely unable of continuing the scam.  President Obama, you are drinking the same kool-aid from the same Goldman Sachs pitcher as Clinton and Bush 2.  With all your borrowing, do you think we can create an Obama Bubble?

No second stimulus and don't spend what you have not spent yet!  We will get through this and unemployment is already out of control.