Here's some good news about the economy.
http://biz.yahoo.com/ap/070406/economy.html?.v=2
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quote:Originally posted by FatNoMo:
Patriot,
Enjoyed the article!
You know, for SOME reason, purple print is getting harder and harder for me to see/read on my monitor.
quote:Originally posted by Kindred_Spirit:
Well... someone HAS to be doing some heavy duty number crunching to come to THAT conclusion!!!
The war alone is over 700 BILLION already... and we are at the Highest DEFICIT in the history of the USA, so how in the heck can ANYONE even THINK our Economy is doing good???
Too many are saying it is not... Expert CPA's around the Nation said that we are headed for a fall... and hopefully that doesn't end up in a depression...
Something has to GIVE, financially, for the good 'ole US of A for us to come out of this Bushy Era unscathed... It has already been proven that Generations to come are going to end up PAYING for JUST THE LAST FOUR YEARS ALONE... and that does NOT include ANYTHING else the USA has done with the money...
I just do not believe the author of that article... I will just have to look at it like it is another form of propaganda, because I can SEE what is going on in the Country.... and if the SAME things went on in someone's home, with their budgets gone haywire... and one brought home a thousand a week, but spent 10,000 a week, then no one in the world would say their finances were doing good....
quote:I read that too. In the article, it stated that 38% of the country, according to a poll, approve of the economy. This just goes to show that no matter how good the economy is, the lack of knowledge about economics along with those who hate the President will overshadow the strength of the economy. This goes for every president also.
quote:Originally posted by NashBama:quote:I read that too. In the article, it stated that 38% of the country, according to a poll, approve of the economy. This just goes to show that no matter how good the economy is, the lack of knowledge about economics along with those who hate the President will overshadow the strength of the economy. This goes for every president also.
Looks like Kindred proved you right.
From what I see, new neighborhoods are being built, new businesses are popping up everywhere, store parking lots are full, and new roads are being constructed. At the moment, the economy is strong. The problem is that too many people are using credit cards and accumulating debt. Our government , this includes both parties, is doing the same thing by borrowing too much and wasting it on pork projects. On the surface, our economy is doing very well. I'm just worried about long term when all of this debt comes due.
quote:Originally posted by FatNoMo:
Credit card debt - whoa, Nash GOOD point. I am concerned about the "younger generation" and the amount they owe to "the cards."
quote:Most credit card debt comes from the "younger generation" who are unwilling to work and save (like our parents did) for the things they want. It's the "gotta have it right now... ME, ME, ME" syndrome.
quote:Originally posted by NashBama:
I wasn't talking about the war, having debt in wartime is a given. I was talking about wasteful spending on the domestic side. The bridge to nowhere in Alaska is a good example. There are lots of projects and programs that are costly and accomplish nothing, yet the politicians we have now are too afraid to do anything about it because getting re-elected is more important than solving problems. At the moment, our economy is fine. However, unless we get some new in Washington with the guts to change things, I don't think the economy has long term stability.
quote:This is one key thing (besides immigration) that I fault GWB on. He should have vetoed some of the spending and budget bills his own party put out. There are times when he just isn't confrontational enough with Congress be it Dem or Rep.
quote:If we keep outsourcing all of our jobs to India, China, Mexico, and who-knows where else we'll all wake up one day unemployed. Then the economy will really suffer! We want the cheapest goods no matter what the real cost. I remember when my dad wouldn't buy it if it didn't say Made In The USA on the label. I remember when Wal-Mart's slogan was “Bring it Home America” with all the patriotic Red/White/Blue signage. Not everything was Made in America, but a good percentage was. We always had domestic cars, too. No "Japmobiles" at our house. These days that thinking is about as hard to find as Coke in a ten ounce glass bottle.
quote:Originally posted by NashBama:quote:If we keep outsourcing all of our jobs to India, China, Mexico, and who-knows where else we'll all wake up one day unemployed. Then the economy will really suffer! We want the cheapest goods no matter what the real cost. I remember when my dad wouldn't buy it if it didn't say Made In The USA on the label. I remember when Wal-Mart's slogan was “Bring it Home America” with all the patriotic Red/White/Blue signage. Not everything was Made in America, but a good percentage was. We always had domestic cars, too. No "Japmobiles" at our house. These days that thinking is about as hard to find as Coke in a ten ounce glass bottle.
The funny thing is the "Japmobiles" are mostly made in the US while Ford & Chevy have plants in Mexico. My next car I'm buying American, I'm getting a Honda.
quote:Originally posted by excelman:
This is good news. No doubt, but your slam that personal hatred of Bush causes people not to see it, is not fact.
What causes people to doubt the "great economy" is what they see in their own personal life. Good paying jobs in the manufacturing sector (as the article stated) are down, which means that there are more people hired in the lower paying service sector. Most people who consider themselves in the middle class, whatever that really means, see their dollars constantly eroded due to the price of gasoline and everything else associated with increased fuel cost (remember everything you have came to you on a truck). The cost of health care has increased at much higher rates than the economy has , the cost of carrying health insurance has (for me) doubled since 2000. With health insurance prices going up up up, I understand now about 48,000,000 people do not have health insurance.What most people consider their main source of investment wealth, their home, is falling in value. Those with investment in the stock market have done pretty good lately, but if you compare the market with what we had in the 90's, it is pitiful. To top that off, every day we hear on the news about some CEO getting MILLIONS in bonuses.
The above mentioned things DO NOT instill confidence in the average thinking man, no matter what the economic news is.
I submit this news is a mixed bag. More low paying jobs filled, more rich people getting a lot richer, but wealth not coming down to the working stiff. TRICKLE DOWN ECONOMICS IS A HORRIBLE MYTH - IT JUST DOES NOT TRICKLE DOWN.
My personal distain for this president does not color my views on this at all.