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Is Our Economy Failing Or Getting Better?

alphieb

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I wonder if our economy is hurting or getting better, any input??????
 

Herophant

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alphieb said:


I wonder if our economy is hurting or getting better, any input??????
The american economy is growing. (Real GDP up 4.4% in 2004) Wee bit less growt in the begining of the milenium but i belive Clinton helped in growth in the 90s. Problem for some is that Since 1975, practically all the gains in household income have gone to the top 20% of households For the 11-12% living in poverty the economy is not growing strong.
http://www.cia.gov/cia/publications/factbook/geos/us.html#Econ

Also the US goverment has gained a huge budged deficts lately and there is some talk about a US debt crisis. Furtermore there is some wories about the amount of dollars in foreign hands and the effect on its monementary value if foreign countries decide to use Euro instead. Some also wory about foreing goverments "dumping" dollars on purpose to vastly reduce its value and hurt the american economy, and everybody else that is dependent on a high dollar value.
 

iamjack

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Has anyone considered that the never-ending discourse on Iraq incited by the left has taken major attention away from trivial and secondary interests like, you know, agriculture?
 

Comrade Brian

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alphieb said:


I wonder if our economy is hurting or getting better, any input??????
Yes, it may very well be getting better at this moment, but as always, it will fall into a recession, so therefore, its getting better but because its better, it will get worser, oooh capitalist economics are so easy to predict.
 

Iriemon

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Herophant said:
The american economy is growing. (Real GDP up 4.4% in 2004) Wee bit less growt in the begining of the milenium but i belive Clinton helped in growth in the 90s. Problem for some is that Since 1975, practically all the gains in household income have gone to the top 20% of households For the 11-12% living in poverty the economy is not growing strong.
http://www.cia.gov/cia/publications/factbook/geos/us.html#Econ

Also the US goverment has gained a huge budged deficts lately and there is some talk about a US debt crisis. Furtermore there is some wories about the amount of dollars in foreign hands and the effect on its monementary value if foreign countries decide to use Euro instead. Some also wory about foreing goverments "dumping" dollars on purpose to vastly reduce its value and hurt the american economy, and everybody else that is dependent on a high dollar value.
Good summary.

The economy is growing strongly right now, the rich are getting richer, but it is fueled to some extent by federal deficit financing with the Govt borrowing $1/2 trillion annually to fund its spending and to make up for the tax cuts.

We are already paying a price for the Republican deficits. The SS trust fund is effectively non-existent; all its assets have been stolen to finance the deficits. This will make the boomer SS crisis a real one because their won't be enough money to pay their SS pensions. And the annual interest expense on the Republican debt was $352 billion last year. It would be nice to use that money for rebuilding N.O., providing health care to those that need it, or even fighting wars. Or better yet, slowing down further increases in debt. Instead, it is interest, big chunks of which go annually to our friends and creditors, Japan, China, Saudi Arabia, and even Britain.

This can't last forever. The Republicans gained power by promising it all -- tax cuts, more spending, and then get-tough wars. Popular message; everyone likes tax cuts and more spending. But it cannot last. It is an illusion; a farce; a Ponzi scheme built on ever more debt that will burden the next generation. But it is the trademark of the leaders of the pass-the-buck generation.

My guess is the Republicans will ride the scheme through the next election and as long as they can. Then when a Dem is elected, let them get the blame the pain of spending cuts and tax increases. Just like in '93.
 
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alphieb

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Herophant said:
The american economy is growing. (Real GDP up 4.4% in 2004) Wee bit less growt in the begining of the milenium but i belive Clinton helped in growth in the 90s. Problem for some is that Since 1975, practically all the gains in household income have gone to the top 20% of households For the 11-12% living in poverty the economy is not growing strong.
http://www.cia.gov/cia/publications/factbook/geos/us.html#Econ

Also the US goverment has gained a huge budged deficts lately and there is some talk about a US debt crisis. Furtermore there is some wories about the amount of dollars in foreign hands and the effect on its monementary value if foreign countries decide to use Euro instead. Some also wory about foreing goverments "dumping" dollars on purpose to vastly reduce its value and hurt the american economy, and everybody else that is dependent on a high dollar value.
"Treasury prices slipped, raising the yield on the 10-year note to 4.50 percent from 4.48 percent late Tuesday. Treasury prices and yields move in opposite directions.

In corporate news, embattled automaker General Motors announced that its chief financial officer would resign after the end of his contract this month and be replaced by the chairman of GM Europe. GM (up $0.09 to $22.48, Research) shares were little changed.

Fellow automaker Ford Motor (up $0.09 to $8.20, Research) is planning to close at least 10 plants and cut up to 30,000 jobs over the next five years, according to a published report.

The dollar gained versus the euro and yen." info from www.cnn.com

ALSO:
"President Bush today will detail U.S. efforts to boost Iraq's infrastructure and economy during the second speech of his series leading up to Iraq's December 15 elections, the White House says. With growing public doubts about the war and heightened congressional debate about the U.S. military deployment in Iraq, Bush is expected to offer specific examples of progress in building Iraqi schools, hospitals, restoring water and electricity". from www.cnn.com

Now is this indicative of a strong growing economy. Me thinks it sounds like a disaster. GM and Ford failing and laying off is not good. If it wasn't for those stupid, over priced, gas hog, ugly buses aka SUV's. The automobile industry wouldn't be in this mess.

Oh, but SUVs are cool (sarcasim)......everybody has one so I must too. That is the mentality of people in general. That is why it is referred as the thundering herd and including the stock market.
 

Iriemon

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alphieb said:
"Treasury prices slipped, raising the yield on the 10-year note to 4.50 percent from 4.48 percent late Tuesday. Treasury prices and yields move in opposite directions.

In corporate news, embattled automaker General Motors announced that its chief financial officer would resign after the end of his contract this month and be replaced by the chairman of GM Europe. GM (up $0.09 to $22.48, Research) shares were little changed.

Fellow automaker Ford Motor (up $0.09 to $8.20, Research) is planning to close at least 10 plants and cut up to 30,000 jobs over the next five years, according to a published report.

The dollar gained versus the euro and yen." info from www.cnn.com

ALSO:
"President Bush today will detail U.S. efforts to boost Iraq's infrastructure and economy during the second speech of his series leading up to Iraq's December 15 elections, the White House says. With growing public doubts about the war and heightened congressional debate about the U.S. military deployment in Iraq, Bush is expected to offer specific examples of progress in building Iraqi schools, hospitals, restoring water and electricity". from www.cnn.com

Now is this indicative of a strong growing economy. Me thinks it sounds like a disaster. GM and Ford failing and laying off is not good. If it wasn't for those stupid, over priced, gas hog, ugly buses aka SUV's. The automobile industry wouldn't be in this mess.

Oh, but SUVs are cool (sarcasim)......everybody has one so I must too. That is the mentality of people in general. That is why it is referred as the thundering herd and including the stock market.
Even in the best of times you can find bad news about specific companies and industries. There are some problems in particular industries, but I don't see fundamental problems in the economy as a whole, on the macro level.

If you want to look at segments of the population and who is benefitting and who is not, there are other issues.
 

alphieb

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Iriemon said:
Even in the best of times you can find bad news about specific companies and industries. There are some problems in particular industries, but I don't see fundamental problems in the economy as a whole, on the macro level.

If you want to look at segments of the population and who is benefitting and who is not, there are other issues.
"
LOS ANGELES — The U.S. housing market will see a sustained decline next year, causing a drag on the nation's economy but falling short of triggering a recession, according to the quarterly UCLA Anderson Forecast." www.usatoday.com I can provide more disturbing links if you would like?
 

Iriemon

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alphieb said:
"
LOS ANGELES — The U.S. housing market will see a sustained decline next year, causing a drag on the nation's economy but falling short of triggering a recession, according to the quarterly UCLA Anderson Forecast." www.usatoday.com I can provide more disturbing links if you would like?
If I had a dollar for every prediction that was completely wrong, I'd be sailing off the Marquesas right now.

I agree the housing market cannot sustain and there may be adjustments, but if, when, and to the extent that will occur is speculation; and other segments of the economy are doing well.
 

alphieb

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Iriemon said:
If I had a dollar for every prediction that was completely wrong, I'd be sailing off the Marquesas right now.

I agree the housing market cannot sustain and there may be adjustments, but if, when, and to the extent that will occur is speculation; and other segments of the economy are doing well.
That ridiculous housing bubble is going to burst my friend. What segments of our economy are doing well? Don't say the market as it is always up before christmas, but most people put it on plastic and then file chapter 7, wow that helps.
 

Iriemon

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alphieb said:
That ridiculous housing bubble is going to burst my friend. What segments of our economy are doing well? Don't say the market as it is always up before christmas, but most people put it on plastic and then file chapter 7, wow that helps.
No doubt, but when and how hard it the question. I knew guys who knew the stock market was going to pop too. So they pulled all their money out. Only problem was, they did it in 1995 and missed out on more than doubling their money based on the S&P 500.
 

oldreliable67

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GM and Ford failing and laying off is not good. If it wasn't for those stupid, over priced, gas hog, ugly buses aka SUV's. The automobile industry wouldn't be in this mess.
True, GM and Ford are not in good shape and thats not good for the economy. But you must also realize their is lots more to the US auto industry than GM, Ford and Chrysler. Mercedes, BMW, Hyundai, Honda, Nissan and Toyota all have plants in the US now. Not all, but a large part of GM, Ford and Chrysler losses are gains for these other guys. GM, Ford and Chrysler have been losing market share to these other guys for years.
 
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