LAT badmouths the economy

No surprise, since the LAT has been preaching doom and gloom for years -- this morning the LAT's Stephanie Simon reports that things are getting worse. As proof, she cites the case of a heavy equipment salesman in Colorado who was doing fabulously well, judging from the fact he owned a Corvette, and now can't pay his bills. On the facts presented in the article, the guy overspent when the money was rolling in, probably went in to debt in a big way and now can't adjust. It's an old story. Seemingly, people never learn that you must save and invest when you have extra income. Instead, people spend, spend, spend. This has little or nothing to do with the economy.