A lot of people like to call me Dr. Doom for all of my cautious columns during the past year or so. Well, I really am not so doomsday (even now), but I think now you see the black swans that I have been forecasting have come home to roost and they are swarming and splattering everyone. Let me start by saying the S&P downgrade is not the end of the world, and is more a political statement than anything else. Nobody’s mortgage or credit card payment is going up. Treasury rates are at record lows and are likely to stay down for a long time. They are going even lower as the economy slows. Mortgage rates are at record lows. That will help housing.

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