Smart man, and 100% correct.
The sheep that believe all the BS that Bush is spewing are clueless. All you have to do is look at the housing market & the trickle down impact of $4 a gallon gas on various industries, and it's pretty clear. This economy is in a world of hurt-and we haven't seen the worst of it.
Woof, you make a good point about the bogus government stats. They don't always paint an accurate picture. Can you illustrate to us how GDP has decreased 2 consecutive quarters? I'm not being sarcastic. I know you can speak intelligently on the issue.
With that being said, I don't believe GDP should be the only indicator. There are several other indicators that lead us to believe that the economy is not doing well and I don't mean to communicate that it's not doing well. However, I don't see the double-digit inflation (even with gas prices going up) nor do I see double-digit unemployment nor do I see double-digit interest rates like we've seen in the past.
There are 2 major sectors that have been hit: the mortgage industry and rising gas prices. So far those have not significantly affected the indicators I have mentioned. The brick that has hit you in the face that you neglect are all the other sectors that are still doing well. Don't ignore those by pointing out the few that aren't doing well.
%^_
Ql
Housing rising the past decade was the fuel that fed the overall economy.
People were pulling 1 trillion worth of equity out of their homes to support their lifestyles.
Housing was also a major employment area thats no longer available as during the peak bubble years.
I do agree there always will be some bright spots in the economy such as agriculture and energy, but overall the economy is suffering now and much worse than is being reported by the govt.
We hear about plant closures every week, and any hiring being done in well-performing areas doesnt seem to make up the losses.
The foreclosure problem is closer to the start than the finish as an increasing # of arms resetting start during the next year.
Housing rising the past decade was the fuel that fed the overall economy.
People were pulling 1 trillion worth of equity out of their homes to support their lifestyles.
Housing was also a major employment area thats no longer available as during the peak bubble years.
I do agree there always will be some bright spots in the economy such as agriculture and energy, but overall the economy is suffering now and much worse than is being reported by the govt.
We hear about plant closures every week, and any hiring being done in well-performing areas doesnt seem to make up the losses.
The foreclosure problem is closer to the start than the finish as an increasing # of arms resetting start during the next year.
"People were pulling 1 trillion worth of equity out of their homes to support their lifestyles. "
Surf n' Turf for dinner, BMW's and all the other lavish goods and services are now a thing of the past, as are SUV's. Now people more are restricted to making daily ends meet, that still entails modest growth by sheer numbers of people walking the planet.
Surf n' Turf for dinner, BMW's and all the other lavish goods and services are now a thing of the past, as are SUV's. Now people more are restricted to making daily ends meet, that still entails modest growth by sheer numbers of people walking the planet.
ditto
emphasize the negative you happen to read about
call anything good you read about bullshit
baddabing, you have a recession in your mind
yes. record number of foreclosures, at least in my area. costs too much to live these days. everything costs more since its more expensive to produce now. jobs all over cutting workers, unemployment rate continuing to rise.
WASHINGTON - The nation’s unemployment rate jumped to 5.5 percent in May — the biggest monthly rise since 1986 — as nervous employers cut 49,000 jobs.
and the people who have jobs arn't making shit, and the raises arn't there like they used to be since companies are having to tighten up. lot of people being forced to grab an extra part time or full time job. its basically becoming a burden to live for a lot of people. i take my shots anytime i can at this country because i've grown to hate it, but i feel sorry for my fellow citizens.
WASHINGTON - The nation’s unemployment rate jumped to 5.5 percent in May — the biggest monthly rise since 1986 — as nervous employers cut 49,000 jobs.
and the people who have jobs arn't making shit, and the raises arn't there like they used to be since companies are having to tighten up. lot of people being forced to grab an extra part time or full time job. its basically becoming a burden to live for a lot of people. i take my shots anytime i can at this country because i've grown to hate it, but i feel sorry for my fellow citizens.
in a nutshell, the inflation figures are bogus. Gov't says they are at 2%:missingte - when in actually, if you calculated them the way they were for the last 50 years before they were changed in the 90's, it has been proven the true rate is currently 7%-10%
when they calculate the GDP, they use what is called an "inflation deflater" - I.E. they back out the inflation rate from the number.
Gov't is backing out only 2% from the initial GDP number, when they should be backing out a minimum of 7%......thus the GDP has indeed been negative for 5 consecutive quarters and we are in a recession
For Immediate Release
[FONT="]The Ovary Office – June 06, 2008
“This recession talk is just a bunch media bull.
I have personally spoken with the members of my cabinet. They are all making much more money than they ever have.
My friends in the Oil business have doubled their net worth in just a few short months.
And how can anybody say unemployment is up? Look at all the jobs I created in <st1:country-region w:st="on"><st1
lace w:st="on">Iraq</st1lace></st1:country-region>.”[/FONT]
[FONT="]The Ovary Office – June 06, 2008
“This recession talk is just a bunch media bull.
I have personally spoken with the members of my cabinet. They are all making much more money than they ever have.
My friends in the Oil business have doubled their net worth in just a few short months.
And how can anybody say unemployment is up? Look at all the jobs I created in <st1:country-region w:st="on"><st1
lace w:st="on">Iraq</st1lace></st1:country-region>.”[/FONT]
Despite Interest Rate Cuts, Foreclosures Hit Record High
US foreclosures at all-time high
US home foreclosures hit another record
The latest gas pain: More job losses
US Unemployment Rate Climbs on Job Losses and New Entrants
Job Market Showed More Weakness in May
Heartbreak at pump: Skyrocketing gas prices push Utahns to the brink
Rising cost of gas making it 'harder and harder'
this country is dead ass broke.
US foreclosures at all-time high
US home foreclosures hit another record
The latest gas pain: More job losses
US Unemployment Rate Climbs on Job Losses and New Entrants
Job Market Showed More Weakness in May
Heartbreak at pump: Skyrocketing gas prices push Utahns to the brink
Rising cost of gas making it 'harder and harder'
this country is dead ass broke.
