Right now I'm rather concerned about the economy because of the asset bubbles that exist, especially in the housing market. The link above is to a site called "The Prudent Bear" that has a good presentation of what's wrong with the economy. Americans think they can spend their way to prosperity. But in the long run savings and investment bring about economic growth. I believe there's a connection between the economy and virtue. An excessive thirst for material goods that are not essential can cause people to go into debt and in the end leave them poorer.
Every month the trade balance gets worse because Americans are buying stuff they don't need with money they don't have. It can't go on forever. But if the bubble in the real estate market bursts, then people will face big problems. Consumer spending has been fueled by high housing prices. Bursting bubbles will bring "toil and trouble."