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| The economy, is it good or bad. (Page 133/181) |
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84fiero123
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JAN 07, 11:10 AM
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Wow from,
| quote | Originally posted by aceman:
My opinion is that the economy is doing just fine. Low unemployment and inflation. Good interest rates for a mortgage. Housing market sucks, but there's a bigtime correction going on in the market. My stocks are doing well. What's not to like about the economy?
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To
| quote | Originally posted by aceman:
My viewpoint is that it is "In Trouble" but not yet a "Going down the toilet"
From being in trouble it MAY (catch word) go down the toilet. From being in trouble it MAY (catch word) continue to show stagnant GROWTH. From being in trouble it MAY (catch word) rebound and have good growth. |
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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.
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aceman
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JAN 07, 11:51 AM
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Like I said.........You can go from "In Trouble" to doing great, staying the same(fine) to down the tubes.
"In Trouble" doesn't equal the economy is bad.
I'm in trouble financially if I don't get this bill paid and this bill paid and do overtime this week. Doesn't mean that I'm going down the tubes financially. I'm still FINE, unless I don't do some of the things listed above.
I still fee that the economy is still just fine. The economy is not the housing market (Where we are in trouble), but there's a link between the two. The economy is not just a snapshot of the pastday or week or month to say it is not doing fine. In the past year there are some troubling issues, but, the economy over all is still in the black and thus is doing just fine.[This message has been edited by aceman (edited 01-07-2008).]
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84Bill
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JAN 07, 12:29 PM
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Paulson: No simple solution to housing crisis
The Treasury secretary says resetting subprime mortgages poses risk of 'market failure,' and that's why administration coordinated a rate freeze plan.
Bahhh thats impossible!!!!! Housing is only a fraction of the economy and it cont, couldnt, would never cause the market to FAIL.
Besides that eveyone knows I dont know anything about the economy so the Treasurey Secertary of the United States myst be full of bullshit.. uhh I mean blisshit.. yeah yeah, thats it bullisshit.. Traaa la laaa la laaa what a lovely day.  [This message has been edited by 84Bill (edited 01-07-2008).]
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84Bill
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JAN 07, 12:32 PM
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| quote | Originally posted by Pyrthian:
Wow - thats surprising - I was under the impression you were more confident in the economy than I was.
Here in Detroit - yes - In Trouble. and maybe even dropping pants for the toilet.....not yet in, or going down tho  |
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No no.. he knows and if you dont know that he knows you know what he knows he will be the first to let you know you that he knows you are dead wrong and make VERY sure to let everyone know how stupid you are for not knowing what he knows.
Got it? [This message has been edited by 84Bill (edited 01-07-2008).]
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Pyrthian
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JAN 07, 12:44 PM
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| quote | Originally posted by 84Bill:
No no.. he knows and if you dont know that he knows you know what he knows he will be the first to let you know you that he knows ............you are dead wrong and make VERY sure to let everyone know how stupid you are for not knowing what he knows.
Got it?
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lol - reminds me of the movie Dodgeball ..... I know you know I know, but you didnt know I knew you know I know..... makes me giggle everytime....
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Phranc
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JAN 07, 01:14 PM
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| quote | | By preventing avoidable foreclosures, we will safeguard neighborhoods and communities and fulfill our responsibility of protecting the broader U.S. economy," Paulson said in excerpts of his speech released by Treasury. "However, let me be clear: there is no single or simple solution that will undo the excesses of the last few years." |
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Hmmm excesses. Like people buying homes they couldn't afford. Now they get bailed out.
| quote | | Paulson said that the deal the administration brokered with the industry to freeze certain subprime mortgage rates for five years did not involve the use of any taxpayer money. Conservative critics have complained that the administration's plan represented government intrusion in the operation of markets that would end up rewarding some people who had taken out risky mortgages. |
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Bail outs for those who bought homes they couldn't afford.
| quote | The steep slump in housing has been a serious drag on the overall economy. There are rising fears that the country could topple into a recession. Those worries were heightened after a report Friday showing that the unemployment rate jumped to a two-year high of 5 percent in December with job growth slowing to a crawl.
Paulson called the current housing correction inevitable after what occurred during the five-year boom in which sales and prices climbed to record levels.
"After years of unsustainable price appreciation and lax lending practices, a housing correction is inevitable and necessary," Paulson said. To top of page |
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Look at that a correction. I love the fear mongering in the report though. That unemployment rate jumped? Nice use of words there. What was the rate before that. 4? 4.5%?Nope 4.7% Is .3 of a % really a jump? Job growth slowed to a crawl? Did it really? Is 18k new jobs added in one month ( a relatively low employment month) really a crawl? No it isn't. Did a 5% unemployment rate during Clinton spell the end of the economy?
And bill that market failure would have been only the housing market. You know the one with all the people who bought homes they couldn't afford.
Doom and gloom! Scare mongering. Scary. I wonder what else he said in his speach. I bet there was more that CNN left out so they could keep up the doom and gloom.
Some things like:
18k new jobs
5% unemployment. Thats still low
Economic Growth: Real GDP growth was 4.9 percent in the third quarter of 2007, supported by strong gains in business investment and exports. (Last updated: December 20, 2007)
Business Investment: Business spending on commercial structures and equipment rose solidly in the third quarter. Healthy corporate balance sheets bode well for continued investment growth. (Last updated: December 20,2007)
Exports: Strong global growth is boosting U.S. exports, which grew by 10.3 percent over the past 4 quarters. (Last updated: December 20, 2007)
Inflation: Core inflation remains contained. The consumer price index excluding food and energy rose 2.3 percent over the 12 months ending in October. (Last updated: December 14, 2007)
Tax Revenues: Tax receipts rose 6.7 percent in fiscal year 2007 (FY07) on top of FY06's 11.8 percent increase. As a share of GDP, FY07 receipts exceeded their 40-year average. (Last updated: October 12, 2007)
Real after-tax income per person increased 2.1 percent over the past 12 months (ending in November). (Last updated: December 21, 2007)
We are on track to make significant further progress on the deficit. The FY07 budget deficit was down to 1.2 percent of GDP, from 1.9 percent in FY06. Much of the improvement in the deficit reflects strong revenue growth, which in turn reflects the continued strength of the U.S. economy. Looking ahead, higher spending on entitlement programs dominates the future fiscal situation; we must squarely face up to the challenge of reforming these programs.
Look at all that good news that CNN left out so they could cram the doom and gloom.
Why would CNN do that?[This message has been edited by Phranc (edited 01-07-2008).]
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pokeyfiero
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JAN 07, 01:55 PM
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Well I don't know about the rest of the country but a lot of service contractors are hurting very badly. A combination of it being winter and people worried about the housing market has brought luxury jobs to a halt.
Really no one is pouring concrete or remodeling their bathroom. The hardware stores are practically vacant. The Dodge dealer here just closed its doors until next year or maybe forever more likely. Landscape materials sales have hit record lows but hydroponics sales are up.
Still all the restaurant's are seeing business and when we went to the movies it was packed. I don't see people driving any less even with the gas prices as high as they are.
The economy seems to be hitting certain people and others it doesn't even touch. I am used to a booming economy regardless of the rest of the country is doing so this is really all new to me. I have friends that are not working and call me looking for jobs at least four times a week. As I have a steady income to pay my bills I have been giving any little jobs I have away to them but it is almost nothing. Honestly I wouldn't give them up if they were worth a damn. They are not worth my time.
The family company employees are working only because we don't want them to go broke. We find work for them even though it isn't stuff that makes the company any money. Some of our employees get their housing through the company's real estate assets and even that we are allowing them to work the rent off and the rest we will either forgive or have them pay back over the summer.
It is a strange time indeed but I still don't see anything as bad as the the great depression here. Banks are not consuming entire towns and surrounding lands into foreclosure. There are no thousand man lines for soup. Mass migrations looking for work have not materialized. The crime rate has not skyrocketed.
I wouldn't say the economy is bad just yet but I will say it is getting vulnerable and weakening. I think this is just an economy correction and one of many to come. The normal bad dips will be deeper and the ups won't reach so high as the cycle continues.
No matter how the economy is doing there are way to make money and profit. Those ways just are not available to everyone and most wouldn't do anything even it was available.
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Pyrthian
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JAN 07, 02:22 PM
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| quote | Originally posted by pokeyfiero:
Well I don't know about the rest of the country but a lot of service contractors are hurting very badly. A combination of it being winter and people worried about the housing market has brought luxury jobs to a halt.
......
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yup - kinda like the "food chain"
part of what many people seem to forget, is you need people to buy stuff for the economy to work properly.
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84Bill
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JAN 07, 05:09 PM
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| quote | Originally posted by Phranc:
Doom and gloom! Scare mongering. Scary. I wonder what else he said in his speach. I bet there was more that CNN left out so they could keep up the doom and gloom.
Some things like:
18k new jobs
5% unemployment. Thats still low
Economic Growth: Real GDP growth was 4.9 percent in the third quarter of 2007, supported by strong gains in business investment and exports. (Last updated: December 20, 2007)
Business Investment: Business spending on commercial structures and equipment rose solidly in the third quarter. Healthy corporate balance sheets bode well for continued investment growth. (Last updated: December 20,2007)
Exports: Strong global growth is boosting U.S. exports, which grew by 10.3 percent over the past 4 quarters. (Last updated: December 20, 2007)
Inflation: Core inflation remains contained. The consumer price index excluding food and energy rose 2.3 percent over the 12 months ending in October. (Last updated: December 14, 2007)
Tax Revenues: Tax receipts rose 6.7 percent in fiscal year 2007 (FY07) on top of FY06's 11.8 percent increase. As a share of GDP, FY07 receipts exceeded their 40-year average. (Last updated: October 12, 2007)
Real after-tax income per person increased 2.1 percent over the past 12 months (ending in November). (Last updated: December 21, 2007)
We are on track to make significant further progress on the deficit. The FY07 budget deficit was down to 1.2 percent of GDP, from 1.9 percent in FY06. Much of the improvement in the deficit reflects strong revenue growth, which in turn reflects the continued strength of the U.S. economy. Looking ahead, higher spending on entitlement programs dominates the future fiscal situation; we must squarely face up to the challenge of reforming these programs.
Look at all that good news that CNN left out so they could cram the doom and gloom.
Why would CNN do that?
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Bwaaaahhahahahhah!!!! 
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84Bill
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JAN 07, 05:12 PM
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| quote | Originally posted by Pyrthian:
lol - reminds me of the movie Dodgeball ..... I know you know I know, but you didnt know I knew you know I know..... makes me giggle everytime.... |
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LOL
Yeah, it's a kind of top secret members only handshake that requires a special patented privilege... well you know. 
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