More naysayers critical of economy....

http://news.yahoo.com/s/ap/20080807/ap_on_bi_go_ec_fi/economy

Well they can say the economy is going south and put up all these numbers etc.

But we know better don't we?

Just ask the economic gurus here on the forum.

I'm sure they can explain this away too just like they denied the economic hard times under Underwood.

I used to think they really knew but were just denying it for political reasons.

But I have about decided that they are such true believers they refuse to face facts.

They are deceiving themselves.

Loving eyes never see.

But the average Joe Blow sixpack knows.

From your story...

The nation's unemployment rate jumped to a five-year high of 5.7 percent, the government reported last week.

Also from your story...

Economists expect another half million jobs to be eliminated this year alone. The jobless rate could hit 6.5 percent by the middle of next year.

And Bill and Hillary only reported $109 MILLION of their income for the past 7 years.



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Let'm eat cake, right Aaron?

What's another half million jobs?

They can eat whatever they want Sherm because they're working. From 1976 on, you have to go to GWB's term in office to find unemployment rates BELOW the current 5.7%.

With the exception of a few months during his last year in office, it didn't happen under Clinton. For most of his Presidency, the rate averaged around 8%.

No President in the past 25 years has had an overall lower unemployment rate lower then what we are currently experiencing. But yeah, economic hard times abound.

keep drinking the kool aid Sherm.

If the economy is so bad Sherm, why did Americans spend over $150,000,000.00 going to the movies last weekend alone?

I understand you're incapable of answering a question so I don't expect one.

If the economy is so bad Sherm, why did Americans spend over $150,000,000.00 going to the movies last weekend alone?

Because they couldn't get a date?

Well that was a good one zig...

I was gonna say because they could not afford gas to go to the beach...

Sherman,

Aaron's point still stands. People do not HAVE to go to the movies (or have cable or satellite, for that matter) and yet so many do.

The fact is the financial crisis is plenty overstated, as plenty of people are not concerned over "movies vs food."

Yeah I know Mike.

There is no problem.

Everyone who works fulltime is comfortable.

And everyone who wants to work can find a job.

The folks who say otherwise are either making it up or bleeding hearts.

Is that about how it is from the republican point of view?

Sherman,

You have no idea how I live, do you?

I do not have a fulltime job, and I am the only provider for a family of 5.

I do not have a trust fund, either.

We make by through my working several jobs (including part-time teaching and working with teens serving restitution) and sharing a small car in an inexpensive city.

Your classism ain't gonna fly down here, Bubba.

Sherm,

I can only speak for my point of view. I do not pretend to represent all Americans or all Republicans.

The economy sucks. Things are getting worse. Middle class people are going without or increasing their debt. Inflation is hurting the working poor, we are amassing debt as a nation we can't afford to repay. Manipulation by the Federal Reserve is hurting this nation and Congress is completely oblivious or just doesn't give a hoot.

Americans have too much debt. This debt will become a greater and greater burden for them as credit card companies continue to increase rates and banks continue to further restrict home equity lines because homes aren't worth what they were a year ago.

It is a house of cards. It wasn't built under one administration. Democrats and Republicans alike, Presidents, Senators, and Congressmen all share blame.

We are screwed because those in power and those likely to be elected to power this term aren't going to do a damn thing about it.

Like many American families, the government isn't willing to live within its means. The Fed keeps printing money out of thin air and nobody has a plan to fix these problems.

Over 1 million iphones were sold over the weekend they were released. Sales are approaching 20 million I believe. That's a $300+ phone with a 2 year contract at close to $100.00 bucks per month. Daily, there is $1,000,000.00 worth of downloads for that phone alone. Computer sales are still strong along with all other digital equipment.

Yeah, American's are suffering tremendously.



Perhaps Edwars was wrong about one thing. There are two America's. There's the one the media wants to portray to get Obama elected and then there's the real world.

Stephanie wrote:
It is a house of cards. It wasn't built under one administration. Democrats and Republicans alike, Presidents, Senators, and Congressmen all share blame.

We are screwed because those in power and those likely to be elected to power this term aren't going to do a damn thing about it.

They'll keep propping it up so you won't see the collaspe in your lifetime Stephanie.

I agree that our economy is not doing well and that the fault is in people (including myself) overspending.

I also would like to have Sherman respond to Aaron's point that we continue to see mass amounts of discretionary spending.

I might suggest that the bulk of this country (including myself) needs to learn that frugality is a good thing, and you just don't need two cell phones, a tank to drive, etc.

In the meantime, in the government housing section of town, most every unit has a satellite dish.

People are struggling, but they aren't starving.

Aaron wrote:

Stephanie wrote:
It is a house of cards. It wasn't built under one administration. Democrats and Republicans alike, Presidents, Senators, and Congressmen all share blame.

We are screwed because those in power and those likely to be elected to power this term aren't going to do a damn thing about it.

They'll keep propping it up so you won't see the collaspe in your lifetime Stephanie.

Are you saying you agree it is a house of cards, just that it won't collapse in the next 40 years?

"if you let me write $200 billion worth of hot checks, I could also give you the illusion of prosperity"


Lloyd M. Bentsen Jr.
U. S. Congressman & U. S. Senator (Democrat, TX)

Hell, Lloyd Bentsen DID write $200 billion worth of hot checks. He was a career Congressman.

Stephanie wrote:

Aaron wrote:

Stephanie wrote:
It is a house of cards. It wasn't built under one administration. Democrats and Republicans alike, Presidents, Senators, and Congressmen all share blame.

We are screwed because those in power and those likely to be elected to power this term aren't going to do a damn thing about it.

They'll keep propping it up so you won't see the collaspe in your lifetime Stephanie.

Are you saying you agree it is a house of cards, just that it won't collapse in the next 40 years?

Are you saying you're going to live into your 80's?

And yes, it's pretty much a house of cards propped up by the government. I would be correct in saying you agree with me that something needs to be done about our monetary policy and that is the first place we probably need to start, yes!!!

ziggy wrote:"if you let me write $200 billion worth of hot checks, I could also give you the illusion of prosperity"


Lloyd M. Bentsen Jr.
U. S. Congressman & U. S. Senator (Democrat, TX)

Are you saying American's aren't propsperous Frank?

ohio county wrote:Hell, Lloyd Bentsen DID write $200 billion worth of hot checks. He was a career Congressman.

And a democratic one to boot...

Are you saying American's aren't propsperous Frank?

I am saying that some of us aren't as prosperous as we pretend to be.

Some people keep themselves poor by trying to pretend that they are rich.

How many i-phone purchaser can really afford an i-phone?

How many would be better off putting that money into winterizing their homes?

Aaron wrote:

Stephanie wrote:

Aaron wrote:

Stephanie wrote:
It is a house of cards. It wasn't built under one administration. Democrats and Republicans alike, Presidents, Senators, and Congressmen all share blame.

We are screwed because those in power and those likely to be elected to power this term aren't going to do a damn thing about it.

They'll keep propping it up so you won't see the collaspe in your lifetime Stephanie.

Are you saying you agree it is a house of cards, just that it won't collapse in the next 40 years?

Are you saying you're going to live into your 80's?

And yes, it's pretty much a house of cards propped up by the government. I would be correct in saying you agree with me that something needs to be done about our monetary policy and that is the first place we probably need to start, yes!!!

Our economy is one gigantic house of cards, Aaron. It isn't just the government. All those Americans purchasing movie tickets and i-phones, do you ever wonder what percentage of them are paying for those items by going further into debt? Do you ever ask yourself, "These millions of people who attend movies every weekend, how many of them are saving for their retirement? How many of them are prepared for when our entitlement system crumbles and there is no Social Security check coming every month in the mail?"

This economy is in trouble. We now find ourselves at a disadvantage when it comes to trade. China threatens to sell dump their US bonds if we keep bitching too much about lead paint in toys and contaminated fish. How good do you suppose being that far in debt to a communist nation is?

House of cards, Aaron.....time to elect leaders who will put an end to this foolishness. Digging ourselves into deeper and deeper debt to settle disputes in Asia and Europe and South America isn't harming this economy. Someday somebody has to pay. Even if you're right and we're not alive to see it we need to consider the future of our children and grandchildren.

I don't know how long I'll live. I'm thinking 40 years at the outside. My father's parents both saw their 84th birthdays with his mother celebrating her 91st in May.

ziggy wrote:

Are you saying American's aren't propsperous Frank?

I am saying that some of us aren't as prosperous as we pretend to be.

Some people keep themselves poor by trying to pretend that they are rich.

How many i-phone purchaser can really afford an i-phone?

How many would be better off putting that money into winterizing their homes?

Now Ziggy that is an excellent point.

But what can we do about the silliness of the American consumer? Perhaps any cure would be worse than the disease.

Stephanie wrote:This economy is in trouble. We now find ourselves at a disadvantage when it comes to trade. China threatens to sell dump their US bonds if we keep bitching too much about lead paint in toys and contaminated fish. How good do you suppose being that far in debt to a communist nation is?

House of cards, Aaron.....time to elect leaders who will put an end to this foolishness. Digging ourselves into deeper and deeper debt to settle disputes in Asia and Europe and South America isn't harming this economy. Someday somebody has to pay. Even if you're right and we're not alive to see it we need to consider the future of our children and grandchildren.

We've had a trade deficit with China for what, 25, 30 years and far as I know, they've been a communist country all along. We've been on the credit crunch for probably 35 to 40 years.

The only thing that has the economy slowing now is housing and this will pass, people will get a boat load of houses at huge discounts and turn around and make billions off today's misery tomorrow and once again, our 'so called depression' will once again be strong and vibrant, running on that same house of cards.

Like I said, you won't see the collaspe in your lifetime.