He is right.  In looking around this weekend, I noticed a lot of the same things.  I went to Pete & Eldas (great Shore Area pizzeria and bar) for pizza on Saturday.  We waited for 45 minutes for a table.  I also went to a fundraiser picnic on Saturday in town sponsored by one of the local Knights of Columbus councils.  It was packed...and not just with Knights and thier families.  If people were truly going broke, I don't think they would be giving their money to charities in droves.  

 

I truly think that things aren't as bad as they are being reported.  Obviously, the markets are in turmoil.  And there is no question that home value have fallen.  But if you look at your investments as long-term and aren't worried about short-term fluctuations and if you are doing the same with your home--that you have no need to sell now and can still afford your mortgage then the turmoil in the markets are of no concern to you...and I am optimistic that the majority of people fall into that category.