PressTv (which is not better or worse than FoxTV) may be right or wrong but even the NYTimes (I take that seriously enough to be a paid digital subscriber) has recently written about the so-called 'Fiscal Cliff' at the end of this year, expressing fear that, given the electioneering, no legislation to stop that is likely until after the presidential oath-taking.
I think there is going to be a 'new normal' in America. Less of these giant houses, SUVs, vacations on credit cards. And the world and the Americans are better off because of that.
situation will a lot worse by 2013-14,considering that there is a stealth devaluation of dollar and all currencies worldwide.Plus the geopolitical situation is ripe for a very MAJOR oil spike.