Stock futures are through the roof

[pbrower2a]

When highly-leveraged speculative activity becomes the only game in town we are on the brink of an economic meltdown. Sorry, folks. Put your money into a low-yield certificate of deposit so that you will have a return of your investment... and be able to invest in a chastised stock market, buying at fire-sale prices without the fire. The economy can tank, as the retail apocalypse shows. If you think that on-line merchandising can replace brick-and-mortar sales, then think again. On-line shopping is still a high-end practice.

Luxury spending collapses first. Just look at what happened to gold during the last economic meltdown. People quit buying golf clubs and let memberships lapse. The upper class can go from Nordstrom's to Kohl's, and the middle class and skilled workers can go from Kohl's to Wal*Mart. Wal*Mart might be surprised at the new customers who supplant workers laid off, who then go to Big Lots, Dollar General, Family Dollar, and Dollar Tree.