We've backed ourselves into a very dangerous situation. The economy is dependent on everyone consuming like crazy. If everyone heard my diatribe and said, 'Yeah, we better start saving,' the economy would go into a recession.

The economy is continuing to run at a strong pace in the third quarter. The underlying trend in durable goods orders is positive and the housing market continues to run strong.

The PC is a big durable goods item now. When the economy is slowing, people tend to reduce their spending on those kinds of things.

It looks to me, with a slowing economy, the first half of the coming year is going to be pretty challenging but the second half will be a little easier. For the investor, the challenge is to stay on the sidelines and watch what the growth expectations are ? the challenge is to keep your eye on the trend line and when the markets assumptions get way above, you sell, and when they get way below, you buy.

I think Iowa is really going through a massive change as a rural economy moving urban. The fact is, the family farm tends to be a nostalgic myth, to be honest about it. Companies like Cargill, Iowa Beef Processors, Pioneer Hybrid, corn companies, beef companies, pig companies have basically taken over the family farm and moved it into a large corporate enterprise.

There is a large psychological element behind current housing prices,