Poll: How do you see the economy?

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  1. #1
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    The Economy-fact or fiction?

    The economy has been in the news lately with Bush speaking about how great the economy is doing. A couple of threads on this board also have been touting the economy.

    I don't know if it is where I live or what I do for a living, but I just don't see it. On an individual basis, I am making more than last year, have acquired no new debt but am having a harder and harder time making ends meet. I opened my house insurance bill yesterday and about fell over. It's up 30 plus per cent even though I have never filed a claim in 14 years. My heating costs are up 40 per cent over last year, my property tax has increased, sewer rates have gone up, I am paying more for groceries and gas, and I find that I have less and less disposable income. Where I was able to take the wife out two dinner two or three times a month, I now find that I am stretching it at once a month.

    On a business level, I am in charge of directing purchases for a small corporation and oversee the spending of about 20 million dollars a year. This past year, I have seen paper and plastic prices rise significantly. Fuel surcharges from high diesel prices have driven delivery costs higher and higher and this in turn has driven costs on just about everything higher.

    In the city that I live, one steel manufacturer has laid off about 85 per cent of his workforce because of cheap imported steel coming from China. The downtown area is a shell of what it once was. General Motors has announced that they are laying off 30,000 workers and one pharmiceutical company is laying off about 8,000.

    Now I know that I live in a depressed area of the country and I will admit that the mall parking lots are packed this month. I just want to know how the rest of you that live in the U.S. see this economy. I really want things to go well economically so that I can see some growth in my 401k so that I can eventually retire.

  2. #2
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    war_man is offline the gatekeeper of honesty and integrity in self
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    Re: The Economy-fact or fiction?

    Prepare like never before bairdi,, the statistics are coming just wait and see... instead of titling this The Economy-fact or fiction call it everyone bring a statistic sheet from a different place, Cause that whats gonna happen here.... I have no statistic sheet to show the economy slowly getting worse, although thats what i believe.... (sorry) Theres just to much contridiction on weather it is or it isnt, Id have to have sourses from very high above tell me they were'nt before id ever believe it,, Unreliable sourses planted all over everywhere that people are believing just cause its kosher to what they would like to believe,,Most members on here make legitimant efforts to find facts about the economy,, its their sources that are motivated and twisted by affiliation and its not always their faught,, I guess they put the effort in and thats more then im willing to do, about the topic of the economy anyway,, I just believe what I believe, and based on so much false information floating arround thats a good position for me to stand in now...
    Last edited by war_man; 12-07-2005 at 02:08 AM.
    war_on_scam

  3. #3
    war_man's Avatar
    war_man is offline the gatekeeper of honesty and integrity in self
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    Re: The Economy-fact or fiction?

    We are in the middle of a war how good can the economy be, it cant be good......
    war_on_scam

  4. #4
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    Re: The Economy-fact or fiction?

    Take the Economic Indicators used During Clinton's first year in office. The ones that where used to say the Economy was good. Then compare the same indicators from his first year in office to each year since then until today.

    The question you first have to answer is whether the Economy was good or bad that year. Then based on that information, you will be able to figure out if the economy was better or worse then the year before?

    This will give you as unbiased a view of the Economy as you can get. The view will only be slanted by the original opinion you had as to whether the Economy was good or bad in Clinton's First year in office.

    I am making no claim as to whether it was good or bad, just explaining how to deterine without much bias what the economy is doing today.

  5. #5
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    Re: The Economy-fact or fiction?

    Reg
    I am not disputing any economic indicators. I am just saying what I see here in my small area of this country and my personal life. I live in a depressed area and the economic recovery hasn't reached here yet. Financially things are harder now to make ends meet than they have been in years. I am just trying to get an understanding and make sense of it all. Is the economy booming in the area where you live? Do you see more jobs being created? Is the mood of those around you getting better, reflecting better economic conditions? Are your personal finances better? Do you have more disposable income to enjoy some of life's pleasures? These are the things I would like to know. If the economic indicators are not reflective in the lives of people then what good are they? If things are getting better for others, then I can grasp to the hope that soon conditions will be improving here.

  6. #6
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    Re: The Economy-fact or fiction?

    Quote Originally Posted by bairdi
    The economy has been in the news lately with Bush speaking about how great the economy is doing. A couple of threads on this board also have been touting the economy.

    I don't know if it is where I live or what I do for a living, but I just don't see it. On an individual basis, I am making more than last year, have acquired no new debt but am having a harder and harder time making ends meet. I opened my house insurance bill yesterday and about fell over. It's up 30 plus per cent even though I have never filed a claim in 14 years. My heating costs are up 40 per cent over last year, my property tax has increased, sewer rates have gone up, I am paying more for groceries and gas, and I find that I have less and less disposable income. Where I was able to take the wife out two dinner two or three times a month, I now find that I am stretching it at once a month.

    On a business level, I am in charge of directing purchases for a small corporation and oversee the spending of about 20 million dollars a year. This past year, I have seen paper and plastic prices rise significantly. Fuel surcharges from high diesel prices have driven delivery costs higher and higher and this in turn has driven costs on just about everything higher.

    In the city that I live, one steel manufacturer has laid off about 85 per cent of his workforce because of cheap imported steel coming from China. The downtown area is a shell of what it once was. General Motors has announced that they are laying off 30,000 workers and one pharmiceutical company is laying off about 8,000.

    Now I know that I live in a depressed area of the country and I will admit that the mall parking lots are packed this month. I just want to know how the rest of you that live in the U.S. see this economy. I really want things to go well economically so that I can see some growth in my 401k so that I can eventually retire.
    The economy of this country is vibrant, strong and doing quite well.
    5% unemployment is virtually full employment. Especially when it's compared to liberal icons such as France and Canada - approx. 15% unemployment.

    If congress would just run their houses like I run mine then the budget would fall into place. I get my check, pay my essential bills and then decide how much is left over for discretionary spending. I consider items like swine research in Arkansas/ bridges to nowhere in Alaska/ Rodeo clown memorials in Texas/ and pocket-parks in Pennsylvania as non essential extras. Even with such extras as the ones listed as well as the Iraq budget, the U.S. is only carrying 10-11% debt. This is probably the average debt of the American consumer.

    Surely everyone on this board has some extras that they could cut from their budget if they needed to free up some money to pay for essentials. How about this pricey internet? Do you really need the phat flat screen plasma with HD technology and the DVR service to boot? You got along quite well before that $60/mo. cell phone bill came along --- didn't you? The winter months are here, natural gas prices always rise then and electric prices drop. Go buy some electric blankets and turn down that thermostat. These are rudimentary operations to a fiscal conservative. :cool:

    Things are better for my family now, economically speaking! :cool:

  7. #7
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    Re: The Economy-fact or fiction?

    Quote Originally Posted by Raider
    The economy of this country is vibrant, strong and doing quite well.
    5% unemployment is virtually full employment. Especially when it's compared to liberal icons such as France and Canada - approx. 15% unemployment.

    If congress would just run their houses like I run mine then the budget would fall into place. I get my check, pay my essential bills and then decide how much is left over for discretionary spending. I consider items like swine research in Arkansas/ bridges to nowhere in Alaska/ Rodeo clown memorials in Texas/ and pocket-parks in Pennsylvania as non essential extras. Even with such extras as the ones listed as well as the Iraq budget, the U.S. is only carrying 10-11% debt. This is probably the average debt of the American consumer.

    Surely everyone on this board has some extras that they could cut from their budget if they needed to free up some money to pay for essentials. How about this pricey internet? Do you really need the phat flat screen plasma with HD technology and the DVR service to boot? You got along quite well before that $60/mo. cell phone bill came along --- didn't you? The winter months are here, natural gas prices always rise then and electric prices drop. Go buy some electric blankets and turn down that thermostat. These are rudimentary operations to a fiscal conservative. :cool:

    Things are better for my family now, economically speaking! :cool:
    I see that this discussion is breaking down along political idealologies. I was hoping for some type of honest dialog. Oh well.

    Where I live the unemployment figure is 6.9%. I know what the figures say. I was hoping that since things are going great for you raider you would share some of the reasons why. Maybe where you live in an area of the country that has a building boom happening. Maybe a lot of new shopping areas are opening. Maybe several companies have opened new plants there and unemployment is very small. Maybe the company you work for has seen an influx of new business or if you work for yourself, then maybe you have seen specific conditions improving. What is happening in your life that will give some type of hope to us that are living in areas that haven't seen economic recovery yet?

    Nothing has changed for me in the past few years. I have not taken on any new debt or added expenses. I have gotten raises yearly and make more now than last year or the year before. I run my house like you run yours, and yet, I find that my check does not stretch as far as it once did. I have no children at home now where I use to have five. I've turned down the heat. I have purchased an electric blanket. I continue to cut and cut. I am just looking for some plausible explanation.

  8. #8
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    Re: The Economy-fact or fiction?

    The numbers don't lie...

    Gas prices have come down and continue to fall
    Economic growth is strong despite Katrina
    Inflation continues to be held in check
    Consumer spending is up
    Consumer confidence is up
    More than 200 thousand jobs were created last month
    The Dow continues to move upward
    And the unemployment rate held steady at 5.0%


    Today the Bureau of Labor Statistics (BLS) released its November Employment Situation report, highlighting a gain of 215,000 new jobs in the payroll survey and a low unemployment rate of 5.0 percent. This good news follows on the heels of Wednesday’s report of unexpectedly strong economic growth in the third quarter. The U.S. economy has been expanding at a brisk pace since the enactment of the President’s 2003 tax cuts, which cut tax rates on capital, thereby stimulating business investment and job creation. Through November, 1.7 million payroll jobs have been created in 2005, and 4.5 million jobs have been created since the 2003 tax cuts went into effect. With the dividend and capital gains tax rate provisions of that package set to expire at the end of this month, Congress must act to ensure that the economy continues to expand and create jobs.

    This month’s numbers also mark a milestone: this is first jobs report since Hurricane Katrina hit the Gulf Coast to return to using the standard employment coverage for the affected areas.

    Highlights of the November Jobs Report
    The monthly survey of business establishments showed that firms added 215,000 jobs in November. BLS also revised the job growth in October and September upward by 13,000 and 25,000 jobs, respectively. With this revision to the September numbers, the economy has added jobs in every month since the 2003 tax cut.

    The strongest growth came in the service sector, with 165,000 new jobs in November. Construction, which added 37,000 jobs, remained strong, and manufacturing showed an increase of 11,000 jobs. The construction industry has been steadily adding jobs since the 2003 tax cuts. Both construction and manufacturing continue to benefit from the lower capital costs and higher investment that stemmed in part from the lower taxes on dividends and capital gains, key features of the 2003 tax cuts.

    The unemployment rate for November was 5.0 percent, unchanged from October and down from 5.2 at the start of the year. For workers who have graduated from high school, the unemployment rate is below 5.0 percent. Workers with a bachelor’s or higher degree had an unemployment rate of 2.3 percent. The labor force grew by 97,000 workers in November.



    Based on all of this GOOD news, I have to believe that the majority of you who say there is no recovery, are caught up in political "wishful thinking", rather than the reality of our current economic situation.

  9. #9
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    Re: The Economy-fact or fiction?

    Some time do you ever feel like you are talking to a brick wall?

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