Getting grumpy?

United States – Economic Forecast – The mood around the global village is just a tad grumpy these days. Is the sky falling? Well, maybe, and maybe not. But amidst the panic, there does appear to be a trend. If US stock and real estate prices sit at uncomfortably low levels for a while, consumer spending is likely to stagnate. Yes, that sounds like a period of low growth and possibly a recession. The attaché NYT piece by Dave Leonhardt makes the argument.