I think it is bit unreasonable to think that we are going to be ok. Atleast not anytime soon. Tiny bubbles did pop in the past, which might be the reason why some of you might think this is just another one of those phase and everything will be back to normal. Unfortunately this is bigger bubble, possibly biggest that have been building for decades. When the bubble burst and US economy finally hit rock bottom, then we can truely decide where we stand.

ps.
This is not the fault of president entirely, only the sheep will blame and point fingers.