ARE WE ENTERING a period of irrational exuberance, or arc things just getting better? A couple months ago I told one of my colleagues that when the Dow hit 9,000, there would be a moment of optimism that might not be entirely justified. He said it was about time to start feeling good, and we should do an issue about that. We should exploit that moment. Then just as we started closing this issue, the Dow hit 9,000, the Cash for Clunkers program provided a significant boost for the automobile industry, we lost a few fewer jobs than expected, Bill Clinton flew out of North Korea with two imprisoned Americans, and pundits and economists began to talk about the official end of the recession. Continue reading ‘FEELING GOOD’