I think the new laws regarding bankruptcy will pull us all down. All those credit loving idiots have no way to clean the slate anymore. Sure business takes a hit when someone goes under and files for bankruptcy but then when they come out the other side they grab a new bunch of cards and start spending again. Now you still gotta pay off most of the debt you created so you are screwed and it will be a domino effect. I remember as a kid the most important thing was your home, protect it at all costs, now it is just a place to hang your hat at the end of the day, if you get into trouble you just walk away and let the bank deal with it while you run off and find another hat hanger. I remember when someone on my block bought a new car it was an event, everyone wanted to see the new car. Today you get another one before you even paid off the old one and you traded it in and now owe more for the new one than it is worth. It is not just our fault the lenders are way more at fault than us they have given us the opportunity to spend way more than we could ever pay back. I have been waiting for the colapse of the housing market, it is inevitable and everyone that paid the big bucks for those homes will suffer, they will never recoup that money ever. That will be the biggest catalyst to our downfall, everyone that has bought, then refinanced, then cashed out will be done.