Boy, this thread went in some interesting directions...
Tim G, it's Brave New World but there are elements of 1984 as well. The news headlines on Thursday and Friday were how much better 2012 was than we all thought, because when the big 4th quarter is included in the annual figures average monthly job growth was 183K instead of 151K. A newly-invented statistic to conjure a positive headline on a day where unemployment crept slightly upward, new claims for unemployment rose, and the size of the labor force shrank once again...Dept. of Labor press releases increasingly remind me of the Ministry of Truth. But like you said, they have to give us our happy pills.
Economic disaster? My personal opinion is that we are in it already, this is what it looks like, it won't resemble an apocalpyse or a collapse. Earlier in the thread someone mentioned Japan, I believe the Japanese speak of their "lost decade", its an apt analogy.
For me, the question becomes: is seeming recent improvement in the USA economy the beginning of a real expansion? Or is this as good as it's going to get, to be followed by a repeat of 2009?
As I wrote once on a different thread, I am very worried that Fed policy keeps interest rates at virtually zero. The consequence that primarily worries me is that riskier investments are much more enticing than FDIC-guaranteed savings. And since investing nowadays is very complex, I think we are seeing a pattern of small investors chasing what's popular and then getting wiped out when the bubbles burst. Tech stocks, followed by real estate, followed by
I suspect the

is currently the stock market in general, it is doubtful that the fundamentals of our economy warrant the Dow near an all-time high. I think a lot of money is being put there simply because it has been rising lately and nothing else is growing as fast. I hope I'm wrong, because if that bursts a lot of people are going to get hurt (again!)