RE: Poverty down...Median Income up...Bush Bad!...
You people are aware that mortage foreclosures are at record levels? And, are you aware that over 100 mortgage companies in Louisiana have gone out of business this year?
RE: Poverty down...Median Income up...Bush Bad!...
Observer Wrote:You people are aware that mortage foreclosures are at record levels? And, are you aware that over 100 mortgage companies in Louisiana have gone out of business this year?
That has nothing to do with the economy. It has everything to do with people borrowing more than they should and greedy lenders lending to people they shouldn't.
Don't get me wrong, this will effect the economy, but the economy is not causing the defaults.
RE: Poverty down...Median Income up...Bush Bad!...
Observer Wrote:You people are aware that mortage foreclosures are at record levels? And, are you aware that over 100 mortgage companies in Louisiana have gone out of business this year?
Yeah, because of people's own stupidity. Now the dems want to bail them all out.
RE: Poverty down...Median Income up...Bush Bad!...
spending is a smaller percent of GDP now, than it was in the 1980's. In fact the GDP of this country has nearly tripled the last 20 years.
in the 1980's you had bottom feader politicians using scare tactics telling people JAPAN was giong to buy us out and the US is 'going under'....same stupidity today, just insert China for Japan.
best indicator of how healthy our economy is, Foreign Investment which is booming.
we do have entitlement problems, which its been proven is politically impossible to deal with(see Soc. Security reform) and the fact Old People vote. They are trying to fix that with Economic Growth(which we've had alot of) and immigrants.
our problems are nothing compared to Europe, its all related to Demographics. Do your part, have babies and continue the human species in the process.
RE: Poverty down...Median Income up...Bush Bad!...
GGniner Wrote:best indicator of how healthy our economy is, Foreign Investment which is booming.
No its not! Foreign investment is booming because the dollar is plummeting. With every month the major foreign currency gains on the dollar, making it more lucrative by the month to invest in the US. The pound already gets you over two dollars... and increasing every month. If I moved from the UK to the US, my apparent fiscal wealth would double in the currency conversion.
RE: Poverty down...Median Income up...Bush Bad!...
georgia_tech_swagger Wrote:
GGniner Wrote:best indicator of how healthy our economy is, Foreign Investment which is booming.
No its not! Foreign investment is booming because the dollar is plummeting. With every month the major foreign currency gains on the dollar, making it more lucrative by the month to invest in the US. The pound already gets you over two dollars... and increasing every month. If I moved from the UK to the US, my apparent fiscal wealth would double in the currency conversion.
if you knew anything about monetary policy you'd know the dollar is dropping on purpose, as a policy. They do so to attract Foreign investment since they get more for their money, and also to discourge american dollars leaving the country to other countries. Taking monetary policy out of the hands of politicians was one of the smarter things they ever did, thank you Alexander Hamilton and james madison.
when foreigners invest in real estate or the Japanese take their money and invest in a new factory here in the United States it creates a new Asset for the United states. Too many people are 'balance sheet challenged' and ignore the rest of the countries financial statement. In the 80's, while spending(Liabilities) soared our ASSETS outpaced them at around a 10 to 1 mark, which is why we are so much wealthier now.
also, when foreigners invest here they are giving their seal of approval on our economy, the best market in the world.
your dollars are worth a fortune in say, Zaire, but you aren't looking to invest there now are you?
Libertarian Economist, Thomas Sowell on the dollar:
Quote:John Hawkins: Do you think the US would be better off having a strong dollar, a weak dollar, or one just as good as the other? Why so?
Thomas Sowell: Whether a currency is "strong" or "weak" tells very little by itself. These are among the many emotional-laden words used in discussing of international transactions which obscure more than they reveal.
(This post was last modified: 08-29-2007 12:43 PM by GGniner.)
Quote:We heard it in the early 1990s, when economists, political scientists and pundits were quipping that while the U.S. and Soviet military superpowers waged the Cold War, it was economic superpowers Japan and Germany that won it; in the 1980s, when Paul Kennedy led the chorus by concluding that America was tumbling toward “imperial overstretch;” in the 1970s, when the U.S. slipped into a malaise; and in the 1960s, which began with the U.S. unable to dislodge a communist dictator 90 miles off its coast and ended with the U.S. unable to hold back the spread of communism half-a-world away.
But the declinists were wrong yesterday. And if their record—and America’s—are any indication, they are just as wrong today.
Any discussion of U.S. power has to begin with its enormous economy. At $13.13 trillion, the U.S. economy represents 20 percent of global output. It’s growing faster than Britain’s, Australia’s, Germany’s, Japan’s, Canada’s, even faster than the vaunted European Union. In fact, even when Europe cobbles together its 25 economies under the EU banner, it still falls short of U.S. GDP—and will fall further behind as the century wears on. Gerard Baker of the Times of London notes that the U.S. economy will be twice the size of Europe’s by 2021.
RE: Poverty down...Median Income up...Bush Bad!...
fsquid Wrote:The defaults are caused by an unedicated populace and the companies that took advantage of that.
exactly, its not the job of the government to bail out stupid people, hell you all will probably shoot me for this but i said that when katrina hit New orleans just have the airforce come in and fire bomb it.
RE: Poverty down...Median Income up...Bush Bad!...
your Comptroller post has nothing to do with the current Economy(the subject of the post), which is booming, and is the best of any point in world history. $13 Trillion GDP...
yes, there are 38 Trillion roughly worth of longterm liabilities thanks to entitlements(Medicare, SocSec, etc) because the Baby boomers didn't have enough Kids/workers to pay for their retirement..........the only problem is these are NOT real Liabilities, or rather realized. The doom and gloom numbers assume we do nothing, yet we are doing multiple things.
1) The Economy is booming, as I've said the GDP has tripled in the last 20 years alone, we have the wealthiest economy in world history right now, Unemployment rates are at all time lows......so Economic Growth can obviously go along way to solving problems, as it has in the past.
2) regardless of the immigration controversy, that is part of their answer. Replace the babies/workers that weren't born with Mexicans and other Central American workers......it sucks, but could be worse, we could be Europe who has had even worse birth rates and more Entitlements, their immigration problem is with muslims instead though.
3) and the Trump card: THEY CAN CHANGE THE BENEFITS(as they've done in the past). As we saw with the attempt to fix Social Security, its currently not politically possible to mess with, but once we approach "crisis mode" down the road, they'll change the benefits again. It will take getting the public to realize the problem before they can take on the AARP and convince the old people(who vote in force) of the problem. All you have to do is look at the SocSec debate a couple years ago that went nowhere to see how hard that is.
I hate Soc Security and other Entitlements, however that doesn't mean that the Sky is falling. We've had the "declinist" or doom and gloomers who "have the answer" for decades and they are always wrong, judging by their track record.
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Poverty down...Median Income up...Bush Bad!...
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