Is your consumer spending going down? Do you think the consumer economy is cooling, will it drive us to a recession and economic hard times?

In this article from smartmoney.com, Donald Luskin exposes this belief as myth.

THERE'S AN ENDURING modern myth among investors that the economy is about to collapse because consumers are going to stop spending.

Like all myths, this one starts with a grain or two of truth, and then embellishes that grain until it's a preposterous mountain.

These mythical mountains are dangerous only if you believe them. Lots of my readers do, and so do lots of my professional investor clients. And worst of all, so does the Federal Reserve - which is going to lead to some really bad monetary-policy errors.

I'm not sure why consumption is supposed...

Read the Economic Mythology of Consumer Spending