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Unbelievable. and yet Obama still has a very high approval rating with all this economic disaster. I do not understand what's happened to soul of this nation.
Consumer Confidence Cools as U.S. Jobless Claims Rise
Obama is doing a damn good job of wiping out the middle class. We're moving to a have and have not society thanks to dear leader. No more upper middle class, middle class and lower middle class.
Total nonsense.
Middle class erosion didn't begin with Obama. It's been going on since at least the Reagan years and it seems to go hand in hand both the decline of unionization and the rise of the Third World as a source of manufactured goods.
Try again.
Unbelievable. and yet Obama still has a very high approval rating with all this economic disaster. I do not understand what's happened to soul of this nation.
Consumer Confidence Cools as U.S. Jobless Claims Rise
This Obama zero percent growth rate is really something, eh? We need to call him ZERObama now, in appreciation f0r this w0nderful ZER0 gr0wth ec0n0my. Thanks 0bama.
This Obama zero percent growth rate is really something, eh? We need to call him ZERObama now, in appreciation f0r this w0nderful ZER0 gr0wth ec0n0my. Thanks 0bama.
It'll be a whole lot more for this quarter (which will be announced next week) - and most economists and business leaders realize that (signs of that are already showing up with numbers such as the much improved jobs numbers last month). While no one is expecting the new GDP to be "gangbusters", it's a pretty good bet it will be "decent".
And yes, I KNOW the new jobless claims number was up more than expect last week, but it's still a pretty average number of new claims historically (neither particularly good nor bad).
Yup--the Fed continues to practice printing worthless dollars and inflating yet another bubble, which steals value from EVERY dollar earned or saved by YOU, the lowly worker/taxpayer.
Great system--it worked so well for the Weimar Republic.
Government spending has been a large portion of the economy the last decade. That is not a sustainable policy.
A large portion? It's practically been the economy.
Quote:
Originally Posted by pknopp
I'm not complaining. I think it's a good thing. I have no problem with slowing government spending even if it means a bit of negative growth.
Good luck with getting the voters to go for that though.
Well, see, that's why Democracy always fails. About half the people are like you and I: Common Sense, Meat & Potatoes, Real World, Big Picture, etc, and the other half is "What's mine is mine and what's yours is mine and I still want more and I want the government to get it for me..." and they drag down everyone.
Quote:
Originally Posted by LordBalfor
Middle class erosion didn't begin with Obama. It's been going on since at least the Reagan years and it seems to go hand in hand both the decline of unionization and the rise of the Third World as a source of manufactured goods.
Figure that out all by yourself?
Gosh, the US cannot compete globally, so the logical thing to do is have unions jack up wages even higher than Market-rate wages so that America is even less competitive.
Part of the equation with manufactured goods is Opportunity Costs.
A worker can make Lattes at Starsux, or manufacture a product, but the worker cannot do both at the same time.
You decided that Starsux and other services like colonic irrigation and massage therapy were more important, and so Capital was shifted from Manufacturing to the Service Sector, forcing Manufacturing out of the US, because you didn't have enough workers, and the result would wages in Manufacturing rising faster than other economic sectors, making a mess of things, since the US cannot compete globally, and no one in the US could buy the products made in the US either.
Don't forget the rise of the Stupid Class.
We all know that buying a 4,400 square foot McMansion with 0% down is financially sound and it can be justified, right?
Quote:
Originally Posted by LordBalfor
The fact is, though the US debt is indeed high, as a percentage of GDP the debt was higher in 1945 than it is now and we were able to deal with it - just as we'll deal with it this time.
Uh, last time you had the Bretton Woods Agreement, the Marshall Plan and all of your Colonies, with no competition globally.
Am I to understand that you want to start WW III so that you can re-institute the Bretton Woods Agreement, set up a Marshall Plan to sell products to the countries you destroyed, and then re-colonize in world with no competition?
That $6.6 trillion dollars would have been added to our national debt, built a lot of US factories in China, and bought Americas rich a lot of personal jet airplanes.
But you still want those supply side tax cuts don't you ??
Romney isn't president. The point is moot. You liberals have been entrusted with this country for another 4 years in the executive branch: time to man up and start getting to work. No more excuses. It's your economy now.
Gosh, the US cannot compete globally, so the logical thing to do is have unions jack up wages even higher than Market-rate wages so that America is even less competitive.
Where did I say that? The long slow demise of union began longgggg before manufacturing fled overseas, the rise of the third world simply compounded the weakening of the middle class that was already well underway. Now the problem is doubly hard to fix but it will eventually resolve itself - already places like China is finding that rising wages there are resulting in the costs of their products increasing, driving manufacturing to cheaper overseas locations such as Vietnam. This is all part of the "big picture" of the rest of the world modernizing. Eventually even the basketcase Africa will see an economic boom as companies seeking cheap labor find it more competative in that regard than other parts of the world. Not only that, but many companies are finding that when the quality issues are taken into account, it doesn't really pay to offshore manufacturing so they are starting to bring those jobs back to the US.
Uh, last time you had the Bretton Woods Agreement, the Marshall Plan and all of your Colonies, with no competition globally.
Am I to understand that you want to start WW III so that you can re-institute the Bretton Woods Agreement, set up a Marshall Plan to sell products to the countries you destroyed, and then re-colonize in world with no competition?.
Again, where did I ever say I wanted that? I swear you Rightwing folks are such drama queens, jumping from one silly interpretion to another without ever touching common sense. The fact is yeah - there ARE major challenges and yeah, the US position today is wayyyyy different than it was in 1945 (when we pretty much dominated the planet both militarily AND economically) but that's a far cry from it being an impossible task to get the deficit problem under control. Afterall, Clinton was moving strongly in the right direction just a few short years ago. All it takes - as I mentioned - is for taxes to be raised some (which has already happened to a degree) and government spending to be curbed a bit (which again, has already started). The lions share of the increase in the deficit was due to recession and - though we are still suffering the hangover from that - we are already well into recovery with the deficit already falling from it's peak and revenues largely recovered from their lows.
It's truly sad that you folks have such little faith in your country. Folks like you have been saying the stock market was going to collapse further, housing would take a decade or more to recover, and the UE rate would climb to 30% or more - NONE of which has occured (and in fact has been the OPPOSITE of what's actually happened), and NONE of which WILL occur.
Mircea
Ken
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