The day of financial reckoning is coming. Combine an asset bubble with the exponentially increasing budget and trade deficits, and financial ruin is sure to follow.
Somedays, I think it might not be a totally bad thing. Our culture is totally corrupt and morally bankrupt, and needs to have the "reset" button hit. Perhaps after the collapse, Americans will rediscover the things that really important and stop their mad obsessions with making monopoly money and drooling in front of the propaganda machine (television).
Of course, history shows that the outcome will be much different. Bad times lead to 1) racial/ethnic/religious strife, and 2) most sheeple looking for a strongman. So we'll probably wind up with some bizzare combination of the USSR and Nazi Germany with 21st technology (cameras on every street corner and implantable microchips).
FYI...
Ping
But we have a different President now.
When Clinton took office, the stock market was on its way up.
He enjoyed the benefits of the dot.com bubble which lasted through the 1990's and had nothing to do with his being president.
When Clinton left office, the stock market was on its way down.