Today's Economy

Well as you all might now our economy is is a bad spot. It hasnt been this bad according to politics since 1940's. Business are going out, people loosing their jobs and families struggle to feed thier families. We already have alot of homeless situations and now i fear we are going to get alot more. What i dont understand is that we can give and give billions and billions of dollars to another country to fix up because we went to war there and we struggle here in our own country. I also cannot understand that the governments and other political offices are complaining of the economy taking a downfall but if you look at their salaries they are not hurting. I believe if they truly cared they would cut down their salaries. They are taking funding from school programs, early intervention programs, state funded programs that help families and not even blinking at their own salaries. I just dont understand when our country says "for the people" are they really taking that in effect, i just dont see it.
What do you feel about the economy's issues, it would be interesting to see other peoples point of views on this issues that effects everyone.

 

One thing you should understand is that boom and bust cycles are natural under the capitalist mode of production. This is the second recession within the past eight years. The Bush presidency produced two recessions, yet another astounding feat by what is possibly the worst administration in American history.

What it'll take for the recession to end for banks to loan money again and house prices to stop falling. What pisses me off about the 700 billion dollar bailout is that there was no mandated amount that had to be guaranteed for loans. The banks are just holding the cash and not doing enough of what they're supposed to do.

 

Now that the election is over you will see a lot less hyperbole used to describe the economy. It is not the worst since the great depression, it is a normal downturn. A visit to your local shopping mall will demonstrate that Americans aren't suffering all that badly.

Even after a series of major layoffs our unemployment rate remains at about 7%. Most economists feel a rate of 5% is "full employment" due to normal transitioning and some people who simply choose not to work.

Taxes remain remarkably low in the US compared to most developed industrial nations, gas prices are falling fast, interest rates are very low and our economy remains the strongest in the world even though we are in the middle of two wars.

Don't panic, things are fine.

 

"Taxes remain remarkably low in the US compared to most developed industrial nations"
You obviously do not live in ny state where i do, the taxes are outrageous. :smt073

 

It's always interesting when the papers starts going "This is the worst since!" and it's always "since 1996!" or something similar.

Ok, here ppl are loosing jobs in a scary tempo, and I think the actual downfall is affected by how the media is reporting it, rather then vice versa. . At least to some extent.

 

Unfortunately....this is often true

 

That is true. The only thing is that certain states (Ohio) tax a lot more than others

 

You can't use a trip to the mall as a barometer for how well Americans are doing.

A better way to tell is to drive thru the neigborhoods and look at all the houses that need roofs and all the people that need their teeth fixed.

You don't even hear people talking about what they have saved anymore..Savings is a word that seems lost from the american vocabulary.

Pensions are being looted and the looters get key positions in the Treasury department.

Things ain't fine..not by a long shot.

 

I have to concur with Satyricon. In addition to no mandates of how the money was to be used, there was no oversight of which to speak. Only now is it being reported that congress is questioning how that money has been used by the banks. Pumping 700 million dollars into banks hasn't resulted in a single job being created because that money is not flowing down to the consumer level.

Obama's infrastructure plans on the surface seems to be one which will create actual jobs. Historically, it's been consumer spending that dictates whether or not the economy is afloat. With no jobs, there's no spending.

 

I'm doing better than before the down turn personally, so I'm not at all worried.

That's what Blue states do, they raise taxes, and we just elected a president who promised to raise federal taxes. California has nearly gone bankrupt more than once.

In Arizona things aren't so bad.

Come on down, just don't turn us Blue.

 

I can see Russia from my house.

 

I still see people spending like before

 

to buy a pack of ciggaretts in ny state it is going to cost you 9.00 a pack,
they also have a new thing called "obesity tax" which means if you buy a regular soda instead of a diet soda it is going to cost you i think an extra 15% tax. They are also going to tax public transportation, i mean our new govenor is taxing EVERYTHING in ny state that already doesnt have tax on it. It is getting crazy. I just dont see "FOR THE PEOPLE" being practiced anywhere here.......

 

The economy is bad, but I got a temp full time job offer and I'm happy happy HAPPY! :smt026 Will keep getting bills paid for another couple of months! He said he can't guarantee a perm job because the economy sucks,:smt009 but we'll see what happens.

 

As Tinkerbell pointed out you live in a state under the strict control of liberal democrats, so you pay high taxes. Now that we have a liberal democratic president, we all could end up paying more.

That being said, we still pay a lot less than our European counterparts.

 

To hell with that shit. That's why me and my girl invested in a rolling machine, some filters, and some tobacco, and we do the shit ourselves, because Ohio's taxes are pretty high, not like New York taxes, but damn high compared to Kentucky or North Carolina. I can't take this shit anymore. If you got the time, you can do it. I put the music on and I start rolling. I usually make about 18 cigs at one sitting.

It's well worth the time :smt023

 

ORRRR quit smoking

Save ya loads of $$$$$$$$

 

I'll get there one day Sarah. I promise. I'm just not ready to quit right now, to be honest with you

 

It seems simple, but it really is a reliable economic indicator. Earlier this week I had to try several ATM machines in the area before I could find one with cash available. Consumer spending says a lot about the state of the economy. Shopping after all, is not a basic need. If folks can afford the updated PSP for little Johnny they obviously are not starving.

We have some problems right now, but to compare it to the Great Depression is ridiculous and I am sure anyone who lived through those times would agree.

 

My mom drives to KY for cigarettes. They got like the lowest tax on cigarettes in the country, or one of them, at least. She gets the generic brands for about 12 bucks a carton.