Gas is crazy high. The housing market has dumped itself out. But I still think that the economy is still stable (even if in a slight downturn). I know it’s not any sort of real analysis or measurement–but it seems that when lots of folks still have enough expendable income to drop $5 to $7 on a fancy coffee drink, there probably isn’t a crisis quite yet.
(Unless, of course, those folks are just dumb, or they are putting those beverages on a mountain-high credit card tab. Both real possibilities).